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What is Polygon (MATIC)?
Polygon is a blockchain platform designed to help scale the Ethereum network by lowering the cost of transactions while improving speed. It does this through a growing suite of software products. This includes the EVM-compatible sidechain called Polygon PoS, which uses Proof-of-Stake (PoS) and MATIC as the native token of the network. Polygon is also developing several layer-2 solutions for Ethereum based on Optimistic rollups and zero-knowledge proofs.
How does Polygon work?
Polygon aims to provide a variety of software solutions to help scale Ethereum. Using the Polygon software development kit (SDK), Polygon will enable developers to deploy decentralized applications (DApps) on sidechains or L2s, all of which connect to the Ethereum mainnet. Currently Polygon is mostly a sidechain. The Polygon sidechain is partly responsible for its own security. It uses PoS consensus, requiring network participants to stake the native token MATIC to partake in consensus. PoS offers many advantages over Proof-of-Work like used on Ethereum.
History of Polygon
Polygon was originally called the Matic Network. The Matic Network was created in 2017 in India by Jaynti Kanani, Sandeep Nailwal, Anurag Arjun, and Mihailo Bjelic.
How to buy Polygon (MATIC)?
You can buy MATIC in the Bitcoin.com Wallet app in a few taps. Pay with credit card, bank transfer, or payment app and receive MATIC directly in your self-custody wallet. Polygon (MATIC) can also be purchased directly on this page and sent to the Polygon (MATIC) wallet of your choice.
How to use the Polygon blockchain?
You can buy, sell, send, receive, and hold MATIC in the Bitcoin.com Wallet app. Advanced users can interact with Decentralized Apps (DApps) on Polygon, enabling DeFi activities such as trading, borrowing, lending, and more.
