As the popularity of decentralized applications (dApps) on the Ethereum network continues to grow, the need for a high-performance, low-cost infrastructure has become increasingly important. This is where Polygon comes in.
Polygon (formerly known as Matic Network) is an open-source, multichain scaling solution that aims to provide a high-performance and low-cost infrastructure for decentralized applications (dApps) built on the Ethereum network. It is considered a Layer 2 scaling solution, which means that it runs in parallel to the main Ethereum blockchain, allowing for faster and cheaper transactions.
One of the key features of Polygon is its use of a modified version of the Ethereum consensus mechanism called "Proof of Stake" with a variant called "Plasma" for its side chains. This allows for faster and cheaper transactions, while still maintaining the security of the main Ethereum blockchain.
Another important feature of Polygon is its concept of "Supernets." Supernets are a collection of interconnected Polygon chains that share a common governance model and token economy. Each Supernet is designed to serve a specific use case or community, and they are designed to be interoperable with each other and with Ethereum.
Polygon also provides a suite of other protocols and services, including a decentralized oracle network, a cross-chain communication protocol, and a decentralized governance model. All of these features work together to provide a robust and flexible infrastructure for dApp developers.
In terms of deployment, developers can use Polygon's SDKs to easily deploy and interact with their dApps on Polygon's networks, and in order to use Polygon's infrastructure, developers need to pay in $MATIC, the native token of the network, as a transaction fee.
Overall, Polygon is a highly promising scaling solution for the Ethereum network. Its use of a modified version of the Ethereum consensus mechanism, its concept of Supernets, and its suite of other protocols and services make it a powerful infrastructure for dApp development.
It's worth noting that Polygon also has on its networks a variety of independent projects and protocols that can be used to build decentralized oracle systems, such as Chainlink, API3, others, as well as AMMs, Lending Protocols, and more.
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