Polygon Technology
Previously Matic Network
What is Matic Network?
Matic is a “Layer 2 scaling solution” that accomplishes scale by using sidechains for off-chain calculation while guaranteeing asset security utilizing the Plasma structure and a decentralized organization of Proof-of-Stake (PoS) validators. Matic is backed by the two most important cryptocurrency exchanges Binance and Coinbase. Matic endeavors to settle the scalability and convenience issues, while not conciliating on decentralization and utilizing or giving leverage to the prevailing developer society and the environment. Matic Network is an off/side chain scaling solution for the present platforms to give adaptability, scalability, and better client experience than DApps/user functionalities. The following are its main features:
- Scalability
- Public Sidechain
- Better User Experience
- Proper Security Policy
- High Throughput
- Modularity
What were the major reasons behind the rebranding of Matic into Polygon?
Matic Network team is now expanding their tech scope and their mission, it has now become “Polygon — Ethereum’s Internet of Blockchains”. While being an operational network Matic realized the limitations that developers have to deal with. They presumed that most of the developers and ventures need to construct their scaling solutions inside the Ethereum network to get profit by its security and organization impacts. Nonetheless, they are attempting to explore its unstructured scaling scene and to manage its usage intricacies. In a nutshell, these were some of the important factors that lead Matic Network to conceptualize and begin building Polygon. Matic believes that the change of name “will coincide with a strategic shift that will see Polygon focus on creating a multichain system akin to Polkadot on Ethereum.”
So, what does the New Version “Polygon” offers and what is the Vision behind Polygon?
“Polygon is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development.”
The core element of Polygon is the “Polygon SDK” which is a very flexible as well as modular structure system that builds and connects two major types of solutions.
- Secured chains also known as Layer 2 chains
- Stand-alone chains also known as Sidechains
What Makes Polygon Different from its Rivals?
Polygon effectively transforms Ethereum into a full-fledged multi-chain system.”
Cosmos, Avalanche, Polkadot, and other blockchains have a similar multi-chain system However Polygon offers multiple features:
- It is more powerful, secure, and transparent.
- It is able to provide the user with maximum benefits from Ethereum’s network.
- Polygon is providing a framework for Ethereum to grow faster and further.
- Shared security services
- an L2 An SDK that can host multiple technologies at once(such as Optimistic Rollups (OR), zkRollups (ZKR), and Validium)
- Adaptors for external blockchain networks and many more incentives.
P.S: Polygon will still use the MATIC Tokens
Polygon <> Alkemy Protocol
We are working on “Alkemy Protocol” a new protocol serving various purposes including the problem of wallets security and aim to scale by using Polygon framework.
More information about Alkemy Protocol will be available soon…
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