Polygon is a layer 2 scaling solution designed to enhance Ethereum's operability. The network transforms Ethereum into a multi-chain system that can cater to developers' diverse range of needs within the blockchain ecosystem. Ultimately, Polygon aims to stimulate mass adoption by solving scalability issues plaguing the blockchain industry.
Formerly Matic Network, the platform underwent a rebranding in 2021. Polygon uses Plasma Framework, which facilitates the easy execution of scalable and autonomous smart contracts, alongside a proof of stake consensus mechanism.
Polygon was founded in 2017 by Jaynti Kanani, Sandeep Nailwal and Anurag Arjun, obtaining guidance from Ethereum founder, Vitalik Buterin. In 2019 the network moved to its own platform and later rebranded to Polygon, while retaining the MATIC ticker.
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