What is Polygon Crypto ?

How does Polygon work Let’s find out.The Nano network utilizes a block-lattice data structure, which is a special way to organize a blockchain But how? Let’s find out. Polygon is an Ethereum Layer 2 service provider that offers multiple scalability options todevelopers.

As Blockchain networks become more decentralized, they can also become sluggish and expensiveto use,

especially as more users join the network and make transactions.Ethereum has been the poster child of this issue, since it’s been getting a lot ofusage but also has scalability issues.

As a result, Ethereum transaction fees have been getting high.One approach to address this is designing a new network from the ground up, with a newname and coin, secured in a different way than Ethereum.

Ethereum or Polygon?

This new network is completely separate from the Ethereum network, and can scale accordingly.

However, the ecosystem surrounding the main network would have to start from scratch tobuild up adoption,

and security would be squarely in the hands of the new network’s node operators.

Another way is extending the functionality of Ethereum through something called a Layer-2Solution.In this method, a secondary network runs in concert with the main network.

Transactions are quickly verified on the secondary network and settled later on the main network.

Now, this is the approach Polygon takes.It’s a Proof-of-Stake Ethereum sidechain.

The platform allows developers to launch Blockchains that are highly scalable, but also benefitfrom Ethereum’s security and network effect by proxy.

Polygon’s MATIC token is already an ERC-20 token native to the Ethereum network,

andcan interface with the Ethereum ecosystem as needed.

Not only that,

but Polygon can provide developers with a choice of different L2 solutions accordingto their needs.With Layer-2 solutions providers like Polygon,

users and developers can get a similar experienceto Ethereum,

the security of the main network, and far improved performance for their applications.And that’s how Polygon works.

what is a polygon

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