CHAPTER 9

Polygon

“Decentralisation is not an option, it’s THE very purpose this all

started for!” - Sandeep Nailwal, Co-Founder Polygon

Launched: October 2017

Native token: MATIC

Market Capitalization: $7.57B

Smart Contract languages: Solidity & Vyper

In this chapter, we will cover Polygon, one of the most talked about

interoperable Blockchains of today. Launched in October 2017,

under the name of “Matic Network”, and co-founded by Jaynti

Kanani, Sandeep Nailwal, Anurag Arjun, and Mihailo Bjelic, this

Blockchain initially tried to solve the perpetual drawback of

Ethereum, i.e., scalability. Originally, Matic used an L2 technology

called Plasma with which it could create a child Blockchain that could

take some load of the transaction processing from layer 1.

The company was rebranded as Polygon only in 2021 with superb

interoperability features keeping the name of the native token the

same as “MATIC”. Being fully compatible with Ethereum, many of the

existing Ethereum based DApps preferred to move to Polygon for

higher scalability, lesser transaction fee, and future-proofing with

interoperability. No wonder, today Polygon has 3000+ projects under

its kitty, hundreds of partners, and a backing from crypto exchanges

like Coinbase and Binance.

9.1 Consensus Model – Proof of Stake

In Figure 9.1, we can see how Polygon can integrate with the other

public blockchains or other public interoperable blockchains

seamlessly, as shown as follows: