Polygon is a leading Layer-2 Ethereum scaling solution that can support smart contracts, letting developers build scalable decentralized apps. Previously Matic Network, the proof of stake network offered all the security benefits of Ethereum with the added benefit of low transaction fees.
MATIC is the native token of the Polygon ecosystem and is an ERC-20 token built on the Ethereum blockchain. It serves as the currency within the Polygon ecosystem, with users paying transaction fees in it.
As of May 2022, Polygon’s MATIC is among the top 20 cryptocurrencies by market cap. Its popularity has soared in recent months as the Layer-1 Ethereum network suffers from network congestion and high gas fees, both of which are solved by Polygon’s scalable infrastructure.
The developers of Polygon SDK are optimistic that their innovation can power the Web 3.0 revolution, offering a low-cost, scalable and highly secure platform with superior transaction speed for decentralized apps to operate on. Its compatibility with the Ethereum main chain is one of the biggest strengths Polygon has over other Web 3.0 blockchains in the market.
You can learn more about Polygon(MATIC) at our KuCoin Blog.