Ethereum’s exorbitant transaction fees have made headlines for several years, and scaling solutions, or Layer 2s, have become an important niche. One project that has gained traction over the last few years in the scalability race is Polygon.
Polygon’s inception is attributed to three developers and co-founders: Jaynti Kanani, Sandeep Nailwal, and Anurag Arjun, the original co-founders. The project’s development began in 2017 under the name Matic Network. Then, in February 2021, Matic was rebranded to Polygon. This shift aimed to address a wider range of technical goals, emphasizing presenting Polygon as a comprehensive suite of scaling solutions.To enhance scalability of Ethereum-based apps, Polygon employs two scaling techniques: a sidechain named Polygon PoS and a zero-knowledge rollup network known as Polygon zkEVM.
In addition to its existing proof-of-stake chain, Polygon also manages a Layer 2 network based on ZK-Rollups: the Polygon zkEVM. Polygon zkEVM aims to harness Ethereum’s security for Polygon’s advantage, an objective the Polygon PoS chain hadn’t fully achieved. With the development of Polygon zkEVM, Polygon is progressing notably in its journey to emerge as a rollup.
Users can stake MATIC tokens on the Polygon sidechain network for security and to earn rewards. However, this functionality is not available on the zkEVM version.
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