Polygon (MATIC), previously known as Matic Network, is a protocol and a framework for building and connecting Ethereum-compatible blockchain networks. It aggregates scalable solutions on Ethereum supporting a multi-chain Ethereum ecosystem.

Polygon was launched in October 2017 and it was co-founded by Jaynti Kanani, Sandeep Nailwal and Anurag Arjun, two experienced blockchain developers and a business consultant.

Before moving to its network in 2019, the Polygon team was a huge contributor in the Ethereum ecosystem. They worked on implementing the Plasma MVP, the WalletConnect protocol and the widely-used Dagger event notification engine on Ethereum.

According to Polygon’s website, it was “built by developers, for developers”, and it combines the best of Ethereum and sovereign blockchains into a full-fledged multi-chain system.

Polygon supposedly solves pain points associated with blockchains, like high gas fees and slow speeds, without sacrificing on security. This multi-chain system is akin to other ones such as Polkadot, Cosmos, Avalanche, etc, but with at least three major upsides: it is able to fully benefit from Ethereum’s network effects, it is inherently more secure and it is more open and powerful

Besides, the sidechains of Polygon are designed to support a variety of decentralized finance protocols available in the Ethereum ecosystem. While it currently supports only Ethereum basechain, the network intends to extend support for additional ones, based on community suggestions and consensus. This would make Polygon an interoperable decentralized Layer 2 blockchain platform.

According to CoinMarketCap Polygon’s price at the moment of writing this article is US$2,33 with a 24-hour trading volume of US$2.129.825.461. MATIC is currently ranked number 13 in CoinMarketCap’s ranking, with a live market cap of US$16.716.386.029. It has a circulating supply of 7.162.892.403 MATIC coins and a maximum supply of 10.000.000.000 MATIC coins.The top cryptocurrency exchanges for trading in Polygon stock are currently Binance, OKEx, Mandala Exchange, CoinTiger, and FTX.