Polygon Guide
Polygon (formerly Matic Network)
Polygon is a Layer 2 scaling solution for Ethereum, designed to improve transaction speeds and reduce costs by processing transactions off-chain, while maintaining security through Ethereum’s main chain. It offers a framework for building and connecting Ethereum-compatible blockchain networks.
Layer 2 Solution
A Layer 2 solution is built on top of a base blockchain (Layer 1) to enhance scalability and transaction efficiency. Polygon’s Layer 2 infrastructure uses sidechains and other scaling techniques to reduce congestion and fees on Ethereum’s network.
Plasma Chain
Plasma is a Layer 2 scaling framework that Polygon uses to handle a high number of transactions. It involves creating child chains, which bundle multiple transactions and then submit them to the Ethereum main chain in batches, reducing the load on the main network.
Proof of Stake (PoS)
Polygon uses a Proof of Stake consensus mechanism to secure its network. Validators are selected to create new blocks and confirm transactions based on the amount of MATIC tokens they have staked, incentivizing participation while keeping the network decentralized.
MATIC Token
MATIC is the native cryptocurrency of the Polygon network. It is used for paying transaction fees, staking, and participating in governance decisions. MATIC holders can also delegate their tokens to validators to earn staking rewards.
Polygon Bridge
The Polygon Bridge is a tool that allows users to transfer assets between Ethereum and Polygon networks. It enables seamless movement of tokens and NFTs, taking advantage of Polygon’s lower transaction fees while retaining compatibility with Ethereum.
zk-Rollups
zk-Rollups are a Layer 2 scaling technique used by Polygon to bundle hundreds of transactions into a single transaction. Using zero-knowledge proofs, zk-Rollups allow the network to validate transactions off-chain and submit the proof to Ethereum, enhancing scalability while preserving security.
Validators
Validators are responsible for securing the Polygon network by validating transactions and producing new blocks. They are required to stake MATIC tokens and are rewarded with fees and staking rewards in return for their work.
Delegators
Delegators are users who delegate their MATIC tokens to validators rather than running a node themselves. By supporting validators with their tokens, delegators earn a share of the staking rewards generated by the network.
Polygon SDK
The Polygon SDK is a modular development framework that allows developers to create Ethereum-compatible blockchain networks or decentralized applications (dApps). It provides tools and support for building both Layer 2 solutions and standalone chains, giving developers flexibility in designing their projects.
