Polygon, formerly Matic Network, is a protocol and platform that allows you to build and connect decentralized apps (dApps), on the Ethereum blockchain. It was created to address some of the usability and scaling issues that have hindered widespread adoption of Ethereum and smart contract platforms.
Polygon, a layer 2 solution, allows developers to create and deploy dApps over Ethereum without being restricted by high transaction fees or slow processing times. Polygon achieves this through a combination sidechains with a proof-of–stake consensus algorithm. This allows it to process transactions more quickly and at lower costs than Ethereum.
Polygon’s modular design is one of its key features. This allows developers to select from many Layer 2 solutions that meet their requirements. These include Plasma, a framework that allows developers to build high-throughput dApps. Optimistic Ethereum is a Layer 2 solution that allows users to verify and complete transactions off-chain.
Polygon is not only a technical platform, but also focuses on the developer experience and community. Polygon offers a variety of tools and resources that can be used to assist developers in building and deploying dApps. It also has a active community of users and developers who help to maintain the protocol’s growth and development.
How does Polygon actually work? This is a detailed explanation of the process:
- A developer creates a dApp using Polygon’s Solidity programming language, which is used to write smart contracts on Ethereum.
- The dApp is deployed on a sidechain. This is a separate blockchain connected to the Ethereum mainchain.
- The dApp can be used to interact with users by sending transactions to sidechains, which are processed and validated using validator nodes.
- The sidechain’s integrity and validity are maintained by validator nodes. They achieve consensus by using a PoS algorithm to determine the sidechain’s state. This is faster than Ethereum’s proof-of-work algorithm (PoW).
- Once a transaction is processed and verified by the validator nosdes, it’s recorded on the sidechain. A corresponding transaction is then created on Ethereum mainchain. This allows the Ethereum network to audit and secure the sidechain.
- The dApp can be used to interact with users by sending transactions over the sidechain. These transactions are then processed and validated in exactly the same manner as the previous paragraph.
Polygon, a protocol and platform that allows you to build and connect decentralized applications on Ethereum. It aims at solving some of the usability and scalability problems that have hindered smart contract platforms’ adoption. Polygon uses a combination sidechains with a PoS consensus algorithm in order to process transactions faster than Ethereum and at a lower price. It also offers a variety of resources and tools to assist developers to build and deploy dApps.