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What is Polygon Cryptocurrency?

Polygon (previously Matic Network) is a layer-2 scaling solution that utilizes an adapted version of the Plasma technology. It is a well known Ethereum layer-2 solution, designed to improve scalability on the Ethereum blockchain by incorporating sidechains for transactions. Polygon provides fast and secure transactions, as well as more cost-effective and faster transfers. Additionally, it enables various Ethereum-based projects to run fully decentralized applications and interoperability solutions, such as DeFi and NFTs without UX issues.

Developed for enterprise and consumer applications, Polygon delivers a user-friendly platform, offering a simple, cost-effective and streamlined way for projects to develop, deploy and operate fully decentralized applications and solutions. From layer-2 solutions to applications development, Polygon’s solutions are designed to provide developers, enterprises and users the scalability, security and convenience they need to achieve their ambitions.

The key components of Polygon are its scalable and secure proof of stake consensus protocol, as well as its numerous turnkey solutions, such as Plasma Cash and its own Layer-2 Rollup technology. By providing layer-2 solutions, it is able to decrease transaction costs drastically, increase transaction speeds and enables the developers to quickly and easily deploy decentralized applications and solutions that are accessible to the public.

Polygon provides developers the ability to rapidly and securely deploy decentralized applications, while eliminating the costs and delays associated with traditional blockchain infrastructure. It also provides developers with access to a wide range of development tools and a quick build permission layer that runs on the Ethereum Virtual Machine (EVM). This makes it possible for developers to easily deploy and operate their own applications and solutions, as well as upgrade existing projects.

Another important component of the Polygon platform is its Token Bridge technology, which enables developers to securely connect their Ethereum-based tokens to Polygon. This technology allows developers to easily deploy custom tokens, as well as easily and securely move assets between the two layers. This makes it easier for users to quickly deploy new and exciting applications, as well as move their assets from one layer of the blockchain to the other.

Polygon has an extensive network of partners, including leading layer-2 developers and enterprises, such as Arweave, Coinbase and Wyre. This extensive network enables developers and enterprises to have access to the best-in-class technologies and services. With Polygon, developers are able to quickly and easily launch their projects securely and with confidence, backed by the best-in-class technical and operational infrastructure, as well as a secure Token Bridge.

Polygon is quickly becoming one of the most popular layer-2 solutions available today. It is designed to provide developers, companies and users with the scalability, security and convenience they need to achieve their ambitions. With its secure Token Bridge technology and wide range of development tools and features, Polygon is the ideal platform for developers, companies and users seeking to rapidly deploy decentralized applications and solutions.

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