Polygon
The cryptocurrency Polygon, also known as MATIC, is a blockchain-based platform that seeks to revolutionize the way people interact with Ethereum. It enables developers to quickly and easily build decentralized applications (dApps) on top of their network. The main goal of Polygon is to provide an easy-to-use infrastructure for developers who want to create dApps without having to worry about the complexities associated with building their own blockchain networks or dealing with high transaction fees. Additionally, it allows users access to Ethereum’s layer 2 scalability solutions while maintaining a secure environment for transactions and data storage.
Polygon utilizes Plasma technology to scale up its network by allowing users to offload some processing onto sidechains while keeping them connected securely through smart contracts on the root chain (Ethereum). This helps reduce congestion on Ethereum’s mainnet which results in faster transaction times and lower gas fees for all participants involved in any given interaction within the system. In addition, Polygon has created several tools such as Matic Wallet SDK which makes it easier than ever before for developers looking at creating dApps using this platform from scratch or integrating existing ones into their projects seamlessly. Furthermore, they have implemented a PoS consensus mechanism making sure that validators are incentivized properly when verifying blocks ensuring the security & reliability of transactions being conducted over this protocol.
Finally, what sets apart Polygons from other similar platforms is its focus on providing a user-friendly experience along with low-cost entry barriers so that more people can join & benefit from these innovative technologies & use cases built upon them. Moreover, most investors prefer investing via Defi protocols instead of traditional exchanges due to the higher returns offered by the former; hence helping bring more liquidity flow into the crypto space thereby increasing adoption rates further across the globe thus helping promote cryptocurrency even further!