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The Artist Formerly Known as Matic: Polygon in 5 🖐

The Artist Formerly Known as Matic: Polygon in 5 🖐
By Fernando Gutierrez • Issue #61 • View online

What is Polygon (MATIC)? 🎩
Polygon is the new name of Matic Network, a project launched in 2017 in the Ethereum ecosystem.
Polygon is a set of tools and frameworks that allow building blockchain networks that are compatible with Ethereum. It is a layer 2 to be run on top of Ethereum to make it multi-chain.
Polygon could expand to support other blockchains, becoming a common layer 2 for all of them.
Polygon brings to Ethereum scalability and interoperability. Each Polygon sidechain can process up to 65k transactions per block, and blocks can happen every two seconds. They achieve finality on the main chain thanks to a system of checkpoints.
Developers also get some other advantages that they would not get if operating purely on Ethereum, such as sovereignty and modularity (dedicated resources, so CryptoKitties doesn’t slow your dApp!).
User experience is also better, with instant and free transactions being possible.
Other projects like Polkadot, Cosmos, or Avalanche promise many of the things that Polygon offers, but Polygon does so without forcing the adoption of a new protocol.
Ethereum has the most vibrant and open developer ecosystem, so staying within is a huge advantage.
MATIC is the native ERC-20 token of Polygon. It is used to pay fees and to stake. It will reach its maximum fixed supply in December 2022.
There were a couple of private sales rounds in 2017 and 2019. Significant percentages of the supply go to the team, foundation, and advisors.
A few links
Last few words
Of course, this is not financial advice yada yada yada.
If you scale your losses, you have a problem that only you can solve. Don’t blame others and look inwards.
I’m catching up with crypto concepts and projects daily for 50 days straight. Please reply to this email if there is something that you would like me to cover.
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Cheers!
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Fernando Gutierrez

I'm catching up with crypto projects and concepts in a few paragraphs for at least 50 days straight.

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