# Polygon(MATIC)

By [john0006](https://paragraph.com/@john0006) · 2023-01-08

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**Polygon** (formerly Matic Network) is a [blockchain](https://en.wikipedia.org/wiki/Blockchain) platform that enables blockchain networks to connect and scale. It aims to create a multi-chain blockchain ecosystem compatible with [Ethereum](https://en.wikipedia.org/wiki/Ethereum). As with Ethereum, it uses a [proof-of-stake](https://en.wikipedia.org/wiki/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](https://en.wikipedia.org/wiki/Decentralized_application) (dApps) such as [Defi](https://en.wikipedia.org/wiki/Decentralized_finance), [DAOs](https://en.wikipedia.org/wiki/Decentralized_autonomous_organization), and [NFTs](https://en.wikipedia.org/wiki/Non-fungible_token).

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*Originally published on [john0006](https://paragraph.com/@john0006/polygon-matic)*