Polygon

In the blockchain domain, Polygon is a renowned Ethereum Layer 2 scaling solution, formerly known as Matic Network. It is dedicated to addressing Ethereum's network congestion and high transaction fees, boosting transaction speed and reducing costs through technologies like sidechains, thereby promoting the large-scale adoption of decentralized applications (DApps). The detailed introduction is as follows:

Technical Architecture

• Plasma Framework It employs Plasma technology for off-chain transaction processing, batch-submitting transaction data to the Ethereum mainchain to enhance transaction throughput. A single sidechain can achieve a performance of 7,000 TPS in internal testnets.

• Four-Layer Architecture

  • Protocol Layer: Defines core rules.

  • Expansion Layer: Supports solutions like Rollup and sidechains.

  • Execution Layer: Runs smart contracts and is compatible with the Ethereum Virtual Machine (EVM).

  • Application Layer: Supports various DApps in DeFi, NFT, gaming, etc.

• PoS Consensus Mechanism It ensures network security through Proof of Stake (PoS). Validators need to stake POL tokens (formerly MATIC tokens) to participate in consensus, which is 99% more energy-efficient than Proof of Work (PoW) and enables faster block confirmation.

Native Token

Its native token is POL (formerly MATIC), with a total supply of approximately 10.41 billion. It is mainly used for paying transaction fees, network governance, and staking to ensure network security. POL will play a key role in Polygon's AggLayer, featuring multiple functions such as governance, staking, and reward distribution.

Ecological Applications

Polygon's ecosystem spans diverse fields like DeFi and NFT:

• DeFi protocols such as Aave and SushiSwap have been deployed on Polygon, supporting cross-chain asset collateralization and other operations.

• NFT marketplaces like OpenSea have also integrated with Polygon, reducing transaction fees.

• Brands like Starbucks and Adidas have issued NFTs through Polygon, driving the application of blockchain technology in traditional industries.