What is Polygon (MATIC)? | Polygon Crypto Explained in Under 60 Seconds

Polygon (MATIC) is a protocol and a framework for developers to build & deploy Ethereum-compatible blockchain networks. The Polygon Token (MATIC) is the ERC20 token that powers the Polygon ecosystem. Used for fees, staking and to secure the network.

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Polygon provides off-chain (Layer-2 scaling) solutions, aiming to solve the issues of high gas fees & slow confirmation times.

Polygon supports two ETH-compatible blockchain networks: Stand-alone chains (establish validator pools) & secured chains (“security as a service”).

Polygon Technology provides projects with their own dedicated instance of Ethereum, combining the best features of both a stand-alone blockchain and Ethereum.

The Polygon architecture consists of four composable layers: Ethereum, Security, Polygon Networks and the Execution Layer. Each layer provides a range of functions.

Dedicated blockchains are compatible with all the existing Ethereum tools (such as Metamask), and can exchange messages among themselves and with Ethereum.

WEBSITE: https://polygon.technology/