Polygon (formerly Matic Network) is a Layer 2 scaling solution for the Ethereum blockchain, designed to improve transaction speed and reduce fees without compromising security. Launched in 2017 by Jaynti Kanani, Sandeep Nailwal, and Anurag Arjun, Polygon uses a proof-of-stake consensus mechanism and offers infrastructure for building decentralized applications (dApps) like DeFi platforms, NFT marketplaces, and gaming projects. In September 2024, Polygon transitioned from its MATIC token to POL, which now powers transactions, staking, and network governance. With a current market price around $0.23, Polygon continues to play a vital role in expanding Ethereum’s capabilities by offering scalable, efficient blockchain solutions.$POL