In order to address the network's scalability concerns, The Polygon Network combines scaling technologies including sidechains, Plasma, state channels and rollups. It is a Layer 2 scaling solution for Ethereum.

Sidechains: Polygon, which acts as a sidechain that relieves congestion by connecting to Ethereum and letting users process transactions on it.

Plasma: Polygon Plasma is the official bridge provided by the Polygon team to bridge MATIC tokens from Ethereum to Polygon chain. Originally it was also used to bridge DAI, but now Polygon PoS bridge is recommended.

State Channels: A state channel is a blockchain second-layer solution. It allows a group of participants to perform unlimited private transactions off-chain. The channel participants can only observe these transactions and are not public. And only the initial and final state of the transactions is recorded in the main blockchain.

In order to build state channels, a portion of the blockchain's state must be locked inside a multisig contract, which calls for several signatures, or keys, to approve a transaction. Then, the paticipants quickly exchange information off-chain. The Ethereum main chain only receives the final transaction. For transactions that call for numerous state modifications, this model is appropriate.

Rollups: The finalized transaction data is posted to layer 1 by rollups, which execute transactions outside of layer 2. In other words, rollup solutions get their security from the Ethereum main chain. Depending on how they verify the transaction, there are two different sorts of rollups. ZK rollups, which use validity proofs, are used. Transactions are computed in this case off-chain and then combined with a validity proof before being uploaded to layer 1. Validium uses validity proofs similarly to ZK rollups but does not submit transaction data to Ethereum layer 1. Positive rollups employ fraud defenses. In this architecture, transactions are wrapped up and provided to the main chain with the assumption that they are valid by default. Only when fraud is suspected are calculations performed.

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These aid in ensuring that transaction processing is quicker and more effective while also lessening congestion and gas costs on the Ethereum network. The Polygon network is built to be EMV (Ethereum Virtual Machine)-compatible as an Ethereum Layer-2 scaling solution, allowing developers to easily convert their current Ethereum-based apps to Polygon.

Interoperability with other blockchains, including the Binance Smart Chain, is made possible by the Polygon Network's cross-communication protocols.

The project claims to provide blockchain transactions that are affordable, scalable, and quick. Utilizing a modified version of the Plasma framework, Polygon runs on checkpoints for PoS (Proof-of-Stake), which are sent straight to Ethereum L1. The merkle block serves as a link between blocks generated or produced by these producers and the checkpointing mechanism. The Merkle root is in course the hash of all hashes. Here, generated random groups of blocks are approved by the PoS validators.

Merkle Block: A Merkle tree totals all transactions in a block and generates a digital fingerprint of the entire set of operations, allowing the user to verify whether it includes a transaction in the block.

Polygon’s Main Features

High Scalability: A blockchain network's or Web3 solution's capacity to process large numbers of transactions without sacrificing security or performance is referred to as scalability. Simplified, scalability is a Web3 solution's capacity to support an expanding user base and volume of transactions while preserving responsiveness and effectiveness. A crucial component of Web3 is scalability, which determines how many users and how many transactions a network can handle. Web3 solutions may encounter constraints that prevent their adoption and expansion if they lack scalability.

Interoperability: Polygon is able to talk and exchange information with other blockchain networks, enabling developers to take advantage of the advantages of other networks. As a result, programmers in the polygon ecosystem are able to create decentralized apps (dApps) that can communicate with other blockchain networks like Ethereum, Binance Smart Chain, and others. It goes without saying that this seamless interaction with Ethereum and other networks gives users more flexibility and accessibility, which makes it the perfect platform for decentralized applications.

Low Transaction prices: The Polygon layer 2 solution is a great answer to one of the key issues with the Ethereum mainnet—high transaction prices. Transaction fees on the Polygon network are much lower than those on the Ethereum mainnet because of its Proof-of-Stake (PoS) consensus mechanism and the fact that transactions are handled off-chain. This makes it an affordable platform for the deployment of Web3 solutions and the development of dApps, enabling developers to create decentralized applications without having to pay exorbitant transaction fees.

Community-Driven: A sizable and engaged community of developers, validators, and users contributes to the growth and development of the Polygon ecosystem, which is highly community-driven. The ecosystem of decentralized programs and solutions is fostered by the community, making it a prime setting for Web3 development. With the help of the community, the infrastructure is kept strong and current with Web3 technology's most recent advancements.

The Polygon network

Two layers make up the Polygon network:

1. The layer of Ethereum

2. The layer of Polygon

The Ethereum Layer

The basic layer of the Polygon network design is made up primarily of the Ethereum mainnet and is called the Ethereum layer. This layer lays a strong basis for security and reliability while also playing a key role in maintaining the network's integrity and handling transactions.

The Polygon Layer

The Polygon layer, which is composed of a number of connected sidechains, primarily functions as the layer 2 scaling solution for the Ethereum mainnet. Simply simply, these sidechains offer more processing power and transaction capacity, enabling quicker and less expensive transactions.

The following crucial elements make up the polygon layer:

1. Polygon SDK

2. Bridges

3. Polygon Network Explorer

4. Proof-of-Stake (PoS) Consensus Mechanism

5. Plasma

1. Polygon SDK

A developer toolkit called the Polygon SDK enables developers to make unique sidechains for their dApps. It offers a modular framework that lets programmers select the parts they require for their applications.

2. Bridges

Bridges make it possible for the Polygon network to communicate with other blockchain networks. Tokens can be moved between the Polygon network and the Ethereum mainnet, for instance, using the Polygon-Ethereum bridge.

3. Polygon Network Explorer

A blockchain explorer called the Polygon Network Explorer offers real-time details on the Polygon network, including as transaction history, network statistics, and validator data.

4. Proof-of-Stake (PoS) Consensus Mechanism

The PoS consensus mechanism used by the Polygon network improves both security and effectiveness. By examining transactions and building new blocks, validators are in charge of preserving the network's integrity.

5. Plasma

See above (2nd paragraph)

This versatility has made it a desirable platform for the deployment of Web3 solutions, along with its high scalability, cheap transaction costs, and excellent security. The network is also backed by a sizable and vibrant community of programmers, validators, and users that collaborate to constantly upgrade the platform.

Some more Informations about matic:

ICO Price: $0.002630

actual Price: €0.9107 or $1.00 (26.04.23)

Market Rank: #9

All Time High: Dec 27, 2021 (a year ago)$2.9232

-65.76% down

All Time Low: May 09, 2019 (4 years ago)$0.003012

+33133.56% if you bought on ATL

Polygon ROI if you purchased at start: 22038.27%

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