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| Denominations | |
|---|---|
| Code | $POL |
| Previous names | Matic Network |
| Development | |
| Original author(s) | Jaynti Kanani, Sandeep Nailwal, Anurag Arjun,[1] Mihailo Bjelic[2] |
| White paper | github |
| Code repository | github |
| Development status | Active |
| Developer(s) | Polygon Labs |
| Source model | Open source |
| Ledger | |
| Ledger start | June 1, 2020 |
| Block time | 2.3 seconds |
| Block explorer | polygonscan.com/ |
| Website | |
| Website | polygon.technology/ |
Polygon (formerly Matic Network) is a blockchain platform which aims to create a multi-chain blockchain system compatible with Ethereum. As with Ethereum, it uses a proof of stake consensus mechanism for processing transactions on-chain. Polygon's native token is POL, an ERC-20 token which allows for compatibility with other Ethereum cryptocurrencies. It is operated by Polygon Labs.
Polygon is a natively Layer-2 network that uses on Ethereum as a base network. In particular, transactions are first validated inside Polygon and then periodically committed in a "checkpoint": a Merkle root of transactions hashes is committed to Ethereum's mainnet, leveraging so-called "Core contracts" deployed on the latter.[3]
Polygon runs various decentralized applications (dApps) such as Defi, DAOs, and NFTs.
- ^ "Matic Whitepaper". github.com. Matic Network. Retrieved 19 August 2022.
- ^ "Polygon Litepaper" (PDF). polygon.technology. Polygon Technology. Archived from the original (PDF) on 2021-02-09. Retrieved 19 August 2022.
- ^ "Polygon Knowledge Layer". Polygon Technology. 2024-09-19. Retrieved 2024-09-19.