Polygon(MATIC or POL), formerly known as Matic Network, is a Ethereum scaling solution. It was initially established to solve the congestion problem of the Ethereum main-net through side chain solution(Polygon POS), but it was widely criticized because it did not share the security of Ethereum. On March 27, 2023, the beta version of the Polygon zkEVM mainnet was officially launched, marking Polygon's official transition to becoming ETH's layer 2.
In addition to a rich product matrix, another key feature of Polygon is its collaboration with traditional Web 2 companies. Disney, Instagram (Meta), Coca-Cola, Reddit, Mercedes-Benz, and others have all leveraged Polygon's blockchain technology to experiment with web 3.
On June 13, 2023, Polygon announced plans for 2.0 upgrade, which is a Layer 2 chain network based on ZK technology, providing infinite scalability and unified liquidity through ZK technology. For users, the entire network feels like using a single chain, it can support almost an unlimited number of chains, and can securely and instantly interact across chains without additional security or trust assumptions. Polygon 2.0 will make Ethereum more expandable.
In 2024, Polygon made significant advancements with the implementation of Polygon 2.0, a comprehensive upgrade that reimagined the entire ecosystem to support a network of interconnected, zero-knowledge-powered Layer 2 chains. This transformation introduced the POL token as the new native gas and staking token, replacing MATIC across all Polygon chains. The new token supports multi-chain staking, enabling POL holders to validate multiple chains and participate in various network roles, such as ZK proof generation and data availability committees.
Additionally, Polygon launched the Aalborg upgrade for the Polygon Proof-of-Stake (PoS) chain, significantly reducing block finality time and enhancing network stability. This upgrade resulted in a 5-6x improvement in finality speed, reducing the probability of deep reorgs and ensuring a smoother user experience. Polygon also introduced new zkEVM-based solutions and interoperability features that positioned the network as the foundation for a decentralized internet, offering shared liquidity and seamless communication between all Layer 2 chains.
Above are only for introduction, not intended as investment advice.
