​​What is Polygon or (MATIC)? Formerly known as the Matic Ne | Infam Announcements

​​What is Polygon or (MATIC)?

Formerly known as the Matic Network, Polygon is an interoperability and scaling platform for building Ethereum compatible blockchains. It is still centered around the MATIC token, which is used for governance, staking, and gas fees.
Currently, Ethereum is the largest platform for running decentralized applications, but it has certain limitations that cannot be solved at the moment. First of all, these are low throughput and high gas fees.

Polygon undertakes to solve these problems by implementing Plasma MVP (Minimum Viable Plasma).
Users can instantly perform financial transactions with the ETH crypto asset, ERC 20 tokens, and other virtual coins.

A few words about the development of the project:

The test version of the Matic Network was launched in 2018. The Matic intraday token became available to traders in the spring of 2019.

At the beginning of 2021, a rebrand was made and now the Matic Network blockchain ecosystem is called Polygon. According to the founders, the new name more accurately reflects the main goal of launching the project, to make the blockchain more accessible and faster.

The long-term goal of the project is to create an open world without borders, where users can seamlessly interact with decentralized products and services without having to first go through intermediaries. It aims to create a hub that various blockchains can easily connect to while overcoming some of their individual limitations such as high fees, poor scalability, and limited security.