Polygon is an open-source decentralized platform created to support Ethereum scaling and infrastructure development. It was originally released as the Matic Network in 2018 by Jaynti Kanani, Sandeep Nailwal, and Anurag Arjun, but later in 2021 expanded its technological field and mission and rebranded as Polygon.
The platform provides a modular and flexible framework, the Polygon SDK, which helps Ethereum’s multi-chain system grow further and faster. It is designed on Layer 2 Chain solutions, the Secured chains and the Sovereign Ethereum sidechains. Secured Chains scale up Ethereum-based security solutions instead of setting up their validation pool. This scheme is suitable for application institutions, startups, young projects, and communities that require extremely high-security levels.
On the opposite, Sovereign sidechains are responsible for their security as they have their verification program pool, which provides better independence and flexibility. These sidechains are often suitable for enterprises, projects that do not require the highest level of security, and projects with strong communities.
The former Matic Network works in complement with the Polygon platform, and provides it with technology features. Matic creates scalable DApps providing superior user experience in a secure and decentralized manner, using sidechains based on a framework for asset security and a decentralized Proof-of-Stake (PoS) validator network. Polygon combines this framework and the proof-of-Stake blockchain architecture, achieving easier execution of scalable and autonomous smart contracts.
MATIC is the native token of Polygon. It is an ERC-20 token that operates on the Ethereum blockchain, which functions as the unit of payment and settlement between participants who interact within the Polygon ecosystem.
The maximum supply of MATIC tokens is at 10 billion MATIC.