Polygon (MATIC) is a system for making blockchain networks and scaling solutions that work with Ethereum. It’s not just one solution, but more like a set of rules. The Polygon SDK is a key part of this system, letting developers build these Ethereum-friendly networks.
You might be familiar with the Polygon Network, which is a Proof of Stake (PoS) sidechain and one of the initial functioning components in the Polygon ecosystem. A sidechain is like a parallel chain that is linked to another blockchain.
Sidechains provide many advantages, such as higher transaction speed and lower fees. Users of the Polygon Network can attest to its speed and cost-effectiveness when compared to Ethereum. However, there are some compromises that come with this improved performance. We will discuss these in more detail.
Polygon can run applications that are compatible with Ethereum Virtual Machine (EVM), making it easy to transfer existing apps. Users can enjoy a similar experience to Ethereum, but with faster transactions and lower costs.
You can do similar things on Polygon as you can on Ethereum, but at a lower cost and quicker speed. Many popular DeFi dapps like Aave, 1inch, Curve, and Sushi are already available on Polygon. Additionally, there are unique native applications like QuickSwap and Slingshot that you won’t find anywhere else.
Conclusion
Polygon (MATIC) is a tool for making blockchain scaling solutions that work well with Ethereum. The Polygon Network is a sidechain that uses Proof of Stake (PoS) and has become popular for its quick, affordable transactions, and compatibility with EVM.
Polygon plans to introduce additional scalability solutions like zk rollups, optimistic rollups, and stand-alone blockchains in the future. These solutions will enhance the Layer 2 ecosystem for Ethereum, making it more dynamic and interconnected.