Polygon is a blockchain protocol like Ethereum or Solana, except (unlike those protocols) Polygon is not its own blockchain. Instead, it operates on top of Ethereum.
Polygon has been pitched as a way to help the Ethereum blockchain scale, offering faster transaction times and lower fees. Here are some of the key features of Polygon you need to know about:
- Scaling: Polygon is a Layer 2 blockchain. It operates on top of the Ethereum blockchain and all its transactions are ultimately validated by Ethereum nodes.
- Cheaper and Faster: The biggest issue with Ethereum right now is the time and cost to perform a transaction. Polygon is trying to increase transaction time and reduce fees while also staying true to the decentralized nature of Ethereum.
- New Tech: Polygon’s ‘Layer 2’ scaling proposal relies on new technology that’s untested and some doubt whether it’s a long-term solution.
- Dynamic Ecosystem: Developers love how easy Polygon is to use for end-users. This has led to a vibrant ecosystem with developers, who would normally choose to build on Ethereum, opting to build on Polygon instead.
