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What is Polygon?
Previously called Matic Network, Polygon (MATIC) is a DeFi protocol that looks to address speed, scalability and transactional issues across the Ethereum network; high gas fees and low bandwidth. One big focus within Polygon is to address the fragmentation and interoperability between current protocols on the Ethereum network. By design, its purpose is to create an ecosystem of interaction across the network and erase fragmentation - creating a multichain ecosystem akin to an internet of blockchains. The Polygon SDK (Software Developer Kit) will assist developers in designing and moving existing projects and DApps to the Ethereum network. Plasma Chains, Validium chains, Optimistic rollups are just a few of the Layer 2 protocols Polygon will allow developers to use and integrate; allowing for faster speeds and lower latency whilst still utilising the ethereum network.
Polygon (Matic) is an ERC-20 Standard token, which provides security to the ecosystem and individual networks through a Proof of Stake model using validators and delegators to confirm transactions across the blockchain.