Polygon is an Ethereum scaling solution offering low transaction fees and fast transactions.
Polygon (originally Matic Network) was founded in 2017 by Jaynti Kanani, Sandeep Nailwal, Anurag Arjun, and Mihailo Bjelic. Polygon is an Ethereum scaling solution that offers developers low transaction fees and fast transaction processing speeds. Polygon employs a modified proof-of-stake consensus mechanism that allows for consensus with each block. In order to validate Polygon network transactions, network participants must stake MATIC, the native token of Polygon. Polygon validators that behave are rewarded with MATIC. Notable customers of Polygon include some of the largest web2 brands such as Starbucks, Reddit, and Coca-Cola. Large web3 companies like OpenSea and Magic Eden have also announced support for Polygon.
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