What Is Polygon (POL)?
Also known as: POL, MATIC, Matic Network, Polygon PoS
In short
Polygon is an ecosystem aimed at improving Ethereum's scalability, developing the Polygon PoS chain, zero-knowledge proof-based solutions, and infrastructure that connects chains. Its native token is POL (formerly MATIC).
The project started in 2017 under the name Matic Network and took the name Polygon in 2021. Its best-known product is the Polygon PoS chain, which runs with its own validators and regularly sends state summaries (checkpoints) to Ethereum. Thanks to low transaction fees and EVM compatibility, many decentralized applications, games, and NFT projects have chosen this chain.
Over time, Polygon turned toward zero-knowledge (ZK) proof technology; Polygon zkEVM, the chain development kit (CDK), and AggLayer, which aims to unify the liquidity of different chains, are parts of this strategy. In 2024, the migration process from MATIC to POL began for the ecosystem's token. POL is used on Polygon PoS to pay transaction fees and for staking, and it is designed as a token that can secure multiple chains.
The security of the Polygon PoS chain relies on its own validator set, unlike a rollup; for this reason, it is technically a sidechain. The ecosystem pursuing multiple products and technology paths at once can make it harder for users to understand which network relies on which security assumption.
Last updated: · This content is for information purposes only and is not investment advice.