Polygon ?????#Matic _ Web3. Aggregated blockchains | #Cryptocurrency / #CryptoToken

Polygon (previously #Matic Network) is the first well-structured, easy-to-use platform for #Ethereum scaling and #infrastructure development. Its core component is Polygon #SDK, a modular, flexible framework that supports building multiple types of applications. To learn more about this project, check out our deep dive of Polygon Matic. Using Polygon, one can create optimistic #rollup chains, #ZK rollup chains, #stand alone chains or any other kind of #infra required by the #developer. Polygon effectively transforms Ethereum into a full-fledged multi-chain system (aka Internet of #Blockchains). This multi-chain system is akin to other ones such as #Polkadot, #Cosmos, #Avalanche etc. with the advantages of Ethereum’s #security, #vibrant ecosystem and #openness. The $MATIC token will continue to exist and will play an increasingly important role, securing the system and enabling governance. Polygon (formerly Matic Network) is a #Layer 2 scaling solution backed by #Binance and #Coinbase. The project seeks to stimulate mass adoption of #cryptocurrencies by resolving the problems of #scalability on many blockchains. Polygon combines the #Plasma Framework and the #proof-of-stake blockchain architecture. The Plasma framework used by Polygon as proposed by the #co-founder of Ethereum, #Vitalik Buterin, allows for the easy #execution of scalable and autonomous #smart contracts. Nothing will change for the existing #ecosystem built on the #Plasma-POS chain. With Polygon, new features are being built around the existing proven #technology to expand the ability to cater to diverse needs from the developer ecosystem. Polygon will continue to develop the #core technology so that it can scale to a larger ecosystem. Polygon boasts of up to 65,000 #transactions per second on a single side chain, along with a respectable block confirmation time of less than two seconds. The framework also allows for the creation of globally available #decentralized financial applications on a single foundational blockchain. The Plasma framework gives Polygon the potential of housing an unlimited number of decentralized applications on their infrastructure without experiencing the normal drawbacks common on #proof-of-work blockchains. So far, Polygon has attracted more than 50 #DApps to its #PoS-secured Ethereum sidechain. MATIC, the native tokens of Polygon, is an #ERC-20 token running on the Ethereum blockchain. The tokens are used for #payment services on Polygon and as a #settlement currency between users who operate within the Polygon ecosystem. The transaction fees on Polygon sidechains are also paid in MATIC tokens. To know more about Polygon in detail you can refer the whitepaper :- https://lnkd.in/grUnVy8U Special thanks ☺️ to #Whiteboard Crypto for such informative videos ? #knowyourcrypto #trending #viral