How does Polygon plan to become Ethereum's blockchain internet?

The Ethereum blockchain is currently facing market issues such as high market costs and slow recognition times, which has led some users to switch to other standard 1 blockchains such as Solana, Avalanche, and Binance Smart Chain. Polygon aims to reverse this change and develop new systems that integrate all Ethereum-based blockchains into a single ecosystem.

Polygon, formerly known as Matic Network, was launched in 2017. They introduced the Ethereum sidechain in June 2020 which allows faster and cheaper transactions without full security. This is accomplished by a plasma solution developed by Ethereum developer Vitalik Buterin and the Bitcoin Lightning Network. - Designer Joseph Poon can secure Ethereum assets in Polygon. All other transactions are identified using a proof-of-concept model that allows users to access MATIC tokens and access network transactions.

The Polygon sidechain has become one of the most popular in the crypto industry, hosting a fixed value (TVL) on-chain of over $5.5 billion in total and leading the DeFi protocol like Uniswap and Aave. . CornThe team's goal is to be superior to each other, as they want to be the "internet blockchain" of Ethereum. In the future, they hope Polygon will become the basis for the integration and development of Ethereum-enabled blockchains with easy delivery, stable security, and secure management for the entire chain.

Currently, Polygon is developing another solution for Ethereum. One of them is Polygon Miden, ZK stack on EVM. This secures Ethereum while maintaining low exchange rates, and Polygon Nightfall, a privacy design rollup developed in partnership with one of the top 4 accounting firms, Ernst & Young (EY), licensed for private purchase by: In addition to the essential Ethereum ecosystem for all blockchain-based payments, Polygon is also developing another EVM-enabled ZK Rollup, Polygon Hermez. EVM-enabled chains use a predefined process.

All of these solutions use MATIC tokens for trading purposes. Improved rollups and sidechains could add value if demand for MATIC tokens increases, helping to achieve developer Sandeep Nailwal's goal of making Polygon the third-largest cryptocurrency by trade cap.

There are many ways to create a blockchain, which is why Polygon calls itself "Ethereum's Blockchain Internet". Unlike other collaborative projects, Ethereum's Polygon app has a similar experience. This means that Web3 developers don't need to learn any more complex languages ​​or patterns than Ethereum already requires. Additionally, users can use MetaMask for each sidechain, creating seamless user interfaces without having to create different settings for each blockchain.

The ability to create operations using Polygon is limitless, adding value to ETH and MATIC tokens while retaining the benefits of the Ethereum mainchain. If Polygon can achieve its goal of providing fast, secure, and affordable business to millions of users, then we will see the true era of Web 3.0 and the vast expansion of the Ethereum ecosystem.