Polygon: Ethereum’s Friend Is Looking To Make Big Strides

In a time of many new crypto coins, platforms, and contracts, Polygon is starting to pave a way and rise to the throne of Ethereum layer 2s. Polygon, formerly known as the Matic Network, is a scaling solution that aims to provide multiple tools to improve the speed and reduce the cost and complexities of transactions on blockchain networks. With recent headlines surrounding both Polygon and correlating Ethereum, it’s wise to get an in-depth perspective on Polygon’s market positioning for those interested in Ethereum alternatives. Related Reading | Why Cardano Is On A Hot Streak With 10% Gains In 1 Day Friend Or Foe, Polygon’s Start & How It Works With ETH… Here is a dive in to look at the coin once known to the world as MATIC. Polygon was created in India in 2017, and was originally called the Matic Network. It was the brainchild of experienced Ethereum developers—Jaynti Kanani, Sandeep Nailwal, Anurag Arjun, and Mihailo Bjelic. The Matic Network went live in 2020, and has since attracted some of the top names in the world of decentralized finance, also known as DeFi, including Decentraland and MakerDAO. The Matic Network rebranded to Polygon in February 2021, and in April 2019 during it’s initial offering, the Polygon team raised the equivalent of $5.6 million in ETH with the sale of 1.9 billion MATIC tokens over a brisk 20-day period. While some coins in the same field are aiming at top...