Polygon (MATIC) is a layer-2 solution created to improve upon the functionality of the layer-1 blockchain known as Ethereum (ETH). The main goal surrounding the Polygon network is to speed up the network and lower the transaction fees which need to be paid on the network, alongside introducing numerous new features.
This scaling solution is developed to be utilized across numerous Ethereum-compatible blockchain networks and has its own native cryptocurrency known as the MATIC token. Today, we are going to go over everything you need to know surrounding the special technical features surrounding the Polygon MATIC platform.
Key Points:
- Polygon (MATIC) is a Layer-2 scaling solution purpose-built to be compatible with Ethereum (ETH) as well as other networks built on top of it.
- Polygon was specifically created as a means of solving the issues surrounding the slow throughput and the high gas fees that are present in the Ethereum network.
- Any developer is given the opportunity to build on top of the Polygon (MATIC) platform due to the accessibility of the Polygon Software Development Kit (SDK).
- If you want to get access to Polygon (MATIC), you can easily get it through the utilization of the blockchain-as-a-service provider NOWNodes.
What is Polygon (MATIC) platform?
Polygon (MATIC) is a Layer-2 scaling solution purpose-built to scale the Ethereum (ETH) blockchain, and this is the Polygon Definition.
Ethereum (ETH) as a network was experiencing numerous issues prior to the launch of the Polygon platform, including issues surrounding throughput, transaction speed, and a lack of community governance.
Polygon was created to solve these issues through the utilization of Proof-of-Stake (PoS) checkpoints.
The Polygon Network was formerly known as the Matic Network in 2017 when it launched before it was rebranded in 2021. Alongside using the PoS consensus mechanism, Polygon utilizes Commit Chain connectivity to solve inefficiencies that could hinder the widespread adoption of the network.
Why Choose The Polygon network?
If you are a developer that wants to create decentralized applications (dApps) for the very first time and want to utilize the advantages of smart contracts, in that case choosing the regular Polygon (MATIC) network might be beneficial for you.
If you want to define Polygon, Polygon offers scaling and infrastructure support to Ethereum Virtual Machine (EVM) dApps and is not hindered by the high transaction fees or the network congestion that has impacted the Ethereum network.
If you are curious about what is Polygon network, Polygon enables each developer that decides to build on top of its access to decentralized cloud storage on the Akash Network, PRC providers, and access to special developer packages such as Tenderly, Gelato, and Certora, to name a few.
There is also access to PolyBuilders, where developers can gain access to an internal group of developers and partners to aid them with the development process.
However, what ultimately makes the Polygon network home to a lot of developers is its unique features, and we are going to go over the most notable features of the Polygon platform.
Features of the Polygon Platform
When the Polygon (MATIC) platform was originally launched, it was known for its primary offering of Plasma Sidechains. The Polygon Token is the MATIC token.
Plasma enables developers to offload the transactions from the main blockchain network into “child chains” that enable fast and affordable transactions.
Matic Plasma Chains are Ethereum, Layer-2 implementations of Plasma, and their child chains are responsible for facilitating fast as well as cheap transactions, but they cannot be used to scale general-purpose smart contracts.
The Matic PoS chain is a permissionless sidechain that runs in parallel to Ethereum and is secured by the Proof-of-Stake (PoS) Consensus mechanism whilst having its own validators.
Developers are also given access to zk-rollups, which can allow multiple transfers to get bundled within a single transaction, alongside optimistic rollups that are similar to Plasma Chain, with the main difference being that they can also scale Ethereum smart contracts.
Polygon also gives developers access to a framework on top of which they can easily and quickly start new projects. Looking at other features of Polygon, as a network, it is made up of four layers in total.
First, there’s the Ethereum layer, which is the base layer and takes advantage of the high level of security of the underlying network. It is used for finality, checkpointing, staking, dispute resolution, and sending messages across Polygon chains and Ethereum chains.
Second, there is the Security layer, which allows Polygon chains to utilize validators that periodically check the validity of a Polygon Chain and get rewarded in the form of a fee.
Third, there is the Polygon Networks Layer, which has sovereign blockchain networks, and each network can maintain the transaction collation and the local consensus and can facilitate the production of blocks on top of the network.
Fourth, there is the Execution layer that can interpret and execute transactions that get included in the chains that run on top of Polygon.
All of this is powered by the MATIC cryptocurrency, which is the native coin and the driving force behind the ecosystem that can be used for the payment of transaction fees. Theoretically, Polygon can process 65,000 transactions per second (TPS).
How to Get Access to Polygon (MATIC)
GET ACCESS TO POLYGONIf you are interested in gaining access to Polygon (MATIC), you can do so by utilizing the blockchain-as-a-service provider known as NOWNodes.
NOWNodes enables anyone to easily connect to Polygon through the utilization of an API key, and it has an uptime of 99.95%, where you can connect within the span of less than a second. Through analyzing various blockchain-related data, you can take your decentralized application (dApp) development process to the next level.
Here is a step-by-step guide that you can follow in order to get access to Polygon (MATIC) with NOWNodes.
- Step 1: Visit the Official NOWNodes website and get Your API Key for Free
First, you will need to visit the official NOWNodes website, after which you will need to enter your email address and click on the “GET FREE API KEY” button.
- Step 2: Connect to Polygon (MATIC) using the free API key
Once you have gained access to the API key, you will now need to go to the official NOWNodes documentation, where you will be presented with the commands you can utilize in order to connect to a Polygon (MATIC) node or a block explorer.
Due to the fact that Polygon (MATIC) is a Layer-2 scaling solution for Ethereum, we can use Ethereum as an example here as it is the underlying blockchain.
If you want to get the block hash, for example, you can use this command:
If you want to get access to a specific transaction, you can use this command:
If you want to check the status, you can utilize this command instead:
This is what a response would look like:
Conclusion
We have gone over just about everything you need to know when it comes to what Polygon (MATIC) is, as well as over some of the most ambitious technical features of the network that can aid developers throughout the development process.
Through connecting to Polygon (MATIC) as a network, you are gaining access to a lot of benefits you would not directly find or see on Ethereum (ETH), the most notable ones being the enhanced throughput and the cheaper transaction fees, alongside the numerous development tools.
All of these technical features combined with the ease of use make the Polygon (MATIC) network a solid solution for developers that want to create decentralized applications (dApps), and through the usage of the blockchain-as-a-service provider NOWNodes, they can get easy access to any blockchain data that they need.
GET ACCESS TO POLYGON
