by Matthew Russell - Posted 1 year ago
Welcome my CryptoComics Compatriots. Today we will go over the history of Matic & how it became the Polygon Network.
Here at CryptoComics, we love Polygon. Our comics have been placed there in order to provide the best Indy Comics to the masses. Let's dive into their history to see where the future lies.
The history of Matic and Polygon begins with the creation of the Matic Network, a Layer 2 scaling solution for Ethereum. The project was first proposed in 2018 by three co-founders, Jaynti Kanani, Sandeep Nailwal, and Anurag Arjun, with the goal of providing a more efficient and scalable infrastructure for decentralized applications (dApps) on the Ethereum network.
Matic Network was launched on the Ethereum mainnet in April 2019 as a sidechain, using a mechanism called Plasma to enable faster and cheaper transactions for dApps. The Matic token, also known as MATIC, was used to pay transaction fees on the network.
In 2020, the Matic team rebranded the project as Polygon and expanded its scope to become a full-fledged multichain network, providing infrastructure for building and connecting decentralized networks. The team also introduced a new token, called the POLY token, which is used to govern the network and pay transaction fees.
One of the critical innovations of Polygon is its use of a unique consensus mechanism called "Proof of Stake and Verification" (PoSV), which combines the security of proof-of-stake (PoS) with the speed and efficiency of verification nodes. This allows Polygon to process thousands of transactions per second and provides a more decentralized and secure network.
In 2021, Polygon's popularity and adoption grew rapidly, with more and more projects, including Decentralized Finance (DeFi) projects, building on the Polygon network. This increased demand for the network's resources and led to the introduction of a new feature called "staking pools" which allows users to pool their resources together to earn more rewards.
Matic and Polygon is a blockchain infrastructure project that started out as a Layer 2 scaling solution for Ethereum in 2018. The project was created with the goal of providing a more efficient and scalable infrastructure for decentralized applications (dApps) on the Ethereum network. In April 2019, Matic Network was launched as a sidechain on the Ethereum mainnet, using a mechanism called Plasma to enable faster and cheaper transactions for dApps. In 2020, the project rebranded as Polygon and expanded its scope to become a full-fledged multichain network, providing infrastructure for building and connecting decentralized networks. It introduced a new consensus mechanism called "Proof of Stake and Verification" (PoSV), which allows for faster and more secure transactions. Polygon's popularity grew in 2021 as more and more projects, including Decentralized Finance (DeFi) projects, built on the network.
In 2022 you can find CryptoComics on the polygon blockchain. Simply head to our marketplace and click on any of the fantastic comics and novels that we are hosting and take your pic!
