Polygon (formerly Matic Network) is a blockchain platform that enables blockchain networks to connect and scale. It aims to create a multi-chain blockchain ecosystem compatible with Ethereum. As with Ethereum, it uses a proof-of-stake consensus mechanism for processing transactions on-chain while deriving its security from Ethereum. Polygon's native token is named MATIC. Polygon is used in decentralized applications (dApps) such as Defi, DAOs, and NFTs.
