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Matic

Last Updated: December 21, 2022

Polygon, formally the Matic Network, is an Ethereum-based scaling solution allowing developers to move computation and data storage off Ethereum into a low-fee and high-speed environment.

Background

The Matic Network was co-founded by Jaynti Kanani, Sandeep Nailwal, and Anurag Arjun to combat blockchain scaling and usability issues. In February 2021, Matic rebranded to Polygon to provide developers a suite of scaling solutions beyond its existing PoS chain. 

MATIC tokens exist on multiple blockchains including Ethereum as an erc20 and as the native token for the Polygon network. Currently, we are supporting the Ethereum hosted erc20 version of the token.

History

2013

Matic Network founded

2020

Launched mainnet and core contracts on Ethereum

2021

Rebranded to Polygon and released suite of scaling solutions

What is Matic's place in the ecosystem?

Security

Polygon applies a Proof-Of-Stake mechanism that leverages staked Matic tokens to reach consensus and help secure the network. 


Governance

Token holders will soon have the ability to use tokens for governance voting on Polygon Improvement Proposals.

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