Polygon was created to address a well-known limitation of Ethereum: as more people use the network, transaction fees can rise significantly and confirmation times can slow down. Polygon acts as a scaling solution, processing transactions more efficiently before settling final results back to the main Ethereum blockchain.
Because it is built to work closely with Ethereum, developers can often move existing Ethereum applications onto Polygon with relatively minor changes, gaining access to much lower fees and faster transaction speeds while still benefiting from Ethereum's broader security and ecosystem.
The native token, POL, formerly known as MATIC, is used to pay transaction fees on the network and to participate in staking, helping secure the validators that process transactions before they are settled on Ethereum.
Frequently Asked Questions
Is Polygon a separate blockchain from Ethereum?
Polygon operates its own network but is closely connected to Ethereum, designed specifically to extend its capabilities by processing transactions more cheaply and quickly before reconciling with the main Ethereum chain.
What happened to the MATIC token?
The network underwent a token migration where MATIC was rebranded and upgraded to POL as part of a broader update to the project's architecture and roadmap.
