It’s time to get into shape — today, we’re taking a deep dive into Polygon.
Polygon serves as a framework for building and connecting Ethereum-compatible blockchain networks. Most recently, it made waves with a pair of announcements last month, including the launch of a new general-purpose blockchain known as Avail.
But what is Polygon, self-described as “Ethereum’s internet of blockchains”, and how does it work? Let’s find out.
What Is Polygon?
According to the project’s website, Polygon is above all “a protocol and a framework for building and connecting Ethereum-compatible blockchain networks.”
It first debuted in 2017, when it was known as Matic.
Now it’s known as Polygon, a protocol built by developers, for developers that combines the best of Ethereum and sovereign blockchains into a multi-chain system. It solves three major problems that exist on the Ethereum network, namely poor throughput, poor user experience, and a lack of sovereignty.
So, to solve these problems, Polygon offers several “improvements” on Ethereum. That includes one-click deployment of blockchain networks, a growing set of modules for developing custom networks, modular and optional security as a service, and more.
The result is a multi-chain system, similar to other protocols such as Polkadot, Cosmos, and more. Polygon, however, offers a trio of features that these other networks don’t: the ability to fully benefit from Ethereum’s network effects, increased security, and increased transparency.
These features power a wide range of projects and applications. That includes everything from Polymarket, one of the most popular blockchain prediction markets, to SportX, a blockchain sports betting platform, and many more.
Binance, Avail, and more new partnerships
Most recently, Polygon has made headlines for the increasing list of projects integrating the platform’s wallet. Binance, for instance, recently completed the integration of the Polygon (MATIC) mainnet onto its platform, according to a report from CoinTelegraph.
The month earlier, the team announced the launch of its newest project, known as Avail. According to a blog post announcing the launch, Avail is a “general-purpose, scalable data availability-focused blockchain.”
The goal is to offer “standalone chains, sidechains, and off-chain scaling solutions” arbitrary execution environments to bootstrap validator security. This would also remove the need to create or manage a unique validator set by guaranteeing transaction data availability.
Polygon also made headlines with several partnership announcements in recent weeks. That includes the launch of a decentralized service protocol, Automata network, as well as the debut of Minerva Wallet, and more.
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