Polygon

Last Updated: January 29, 2024

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 proof of stake (PoS) chain.

Launch

Polygon launched in 2017 as the Matic Network. with its native currency, MATIC subsequently launched in 2019, via an “initial exchange offering.” The mainnet launched with core contracts on Ethereum in 2020.

How does it work?

Polygon lives on top of Ethereum as a layer 2 blockchain. Polygon aims to bridge many different blockchain projects on Ethereum, which all boast different features, but aren’t necessarily interoperable. 

Polygon leverages staked Matic tokens to reach consensus and help secure the network. MATIC tokens exist on multiple blockchains.

Sources and Resources

Information on this page includes third party content. Such content has not been verified or endorsed by Bullish. Bullish does not warrant that such content is complete, accurate, up-to-date or appropriate for your intended use and Bullish is not liable for any errors or delays in updating such content or ensuring its availability. Any reliance on or interaction with such content is solely at your own risk. Material provided on this page is for informational purposes only and does not constitute investment advice. This information is not and should not be interpreted as a recommendation to buy, sell, or hold a digital or fiat currency or to use a particular investment strategy. You should conduct due diligence before deciding whether to transact in any digital asset or fiat currency. Any prices displayed are for illustrative purposes only. Not all digital assets may be available in all jurisdictions or to all types of customers. Please see the Risk Warnings for important additional information.

The Bullish Group and related parties engage in a range of businesses that may involve: trading their own assets on the Bullish exchange or elsewhere; holding or owning digital assets or fiat currencies or derivatives contracts traded on or off of the Bullish exchange; and participating in or performing other services and transactions on the Bullish exchange or that relate to activity on the Bullish exchange. In addition, the Bullish Group from time to time may enter into arrangements with digital asset issuers, sponsors and/or other third parties that may result in a direct or indirect benefit to the Bullish Group, including Bullish (GI) Limited, the operator of the Bullish exchange.  The scope of any such arrangement may include, for example, listing a digital asset, ensuring liquidity in a particular virtual asset market, providing other services in relation to a digital asset or receiving rewards for holding particular assets on the Bullish exchange. The Bullish Group and related parties may also make investments in issuers of digital currencies that trade on the Bullish Exchange; companies that develop the protocols or technologies on which digital assets traded on the Bullish exchange may rely; or companies that are active in ecosystems that may benefit from the trading of particular digital currencies on the Bullish exchange. The Bullish exchange has policies in place to manage conflicts of interest.

Trade crypto’s biggest assets on Bullish.

Other digital assets