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Learn everything about the blockchain taking Ethereum scaling solutions to the next level<\/h2>\n

Polygon is one of the most famous blockchain platforms with dapps. You can benefit from fast and cheap transactions and enjoy EVM conveniences to build your own project. But because it is constantly evolving it\u2019s hard to keep up with the latest developments. This article will cover everything you need to know about Polygon, from the basics of how it works to the upcoming features that may change the future of Web3. Read on!<\/strong><\/p>\n

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Contents<\/strong><\/p>\n<\/blockquote>\n

What is Polygon?<\/h2>\n

Polygon is a popular Layer 2 protocol solving problems inherent in the Ethereum mainnet. It provides higher throughput and deals with high gas fees thanks to a number of scaling solutions like sidechains and zero-knowledge rollups (zkRollups).<\/p>\n

Essentially, Polygon is trying to combine the best of Ethereum with other blockchains into one solution whilst also adding a better user experience.<\/p>\n

In 2023, DappRadar recorded Polygon\u2019s rise in dominance as a gaming blockchain, and games built using this technology are some of the most promising ones in the space.<\/p>\n

The Polygon 2.0 proposal<\/h3>\n

Announced in June 2023, Polygon 2.0 is a set of various upgrades to the Polygon PoS blockchain that will gradually change the protocol from its architecture to governance and the evolution of its token from MATIC to POL.<\/p>\n

The Polygon PoS chain now has its own roadmap to become the internet\u2019s Value Layer, a network of ZK-powered L2 chains that are EVM equivalent with unlimited scalability and unified liquidity. Keep reading to understand the changes to the Polygon PoS chain below.<\/p>\n

Polygon public chains<\/h2>\n

Polygon has a number of big projects that contribute to how it\u2019s improving dapp usage and Ethereum scalability. Let\u2019s have a look at some of their public blockchain solutions below.<\/p>\n

Polygon PoS or zkEVM Validium<\/h3>\n

The Polygon most of us know is Polygon PoS, the EVM-compatible sidechain. According to DappRadar, it is one of the most used chains in the world, hosting thousands of dapps and registering millions of transactions every day.<\/p>\n

This is the chain that the team is upgrading to a zkEVM Validium and that will be at the core of Polygon 2.0.<\/p>\n

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Validiums outperform rollups thanks to their significantly lower fees because they don\u2019t consume any Ethereum gas but store transaction data on a blockspace. Moreover, they also have higher scalability because their throughput is not limited by the transaction data capable on Ethereum.<\/p>\n

Polygon zkEVM Rollup<\/h3>\n

Another innovative public network in the Polygon ecosystem, Polygon zkEVM is an EVM equivalent zk Rollup. A zero-knowledge rollup basically aggregates multiple off-chain transactions into one on-chain transaction. Polygon\u2019s journey to develop zkRollups started long ago, and it\u2019s now closer than ever to the highest Ethereum throughput while keeping the chain\u2019s security.<\/p>\n

Like its predecessor, Polygon PoS, Polygon zkEVM is an Ethereum L2 and scaling solution. However, by leveraging ZK technology, it achieves its goal by being EVM equivalent and not only compatible \u2013 making transactions even cheaper and faster.<\/p>\n

But unlike you may think, this chain will not seize existing with Polygon 2.0. The new ecosystem envisions both chains coexistent harmoniously:<\/p>\n

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• zkEVM Validium for Web3 gaming and social dapps, because of its very high scalability and low dees that are a great fit for dapps with high transaction volume; and<\/li>\n
• Polygon zkEVM rollup as it is, that already is as safe as it can be but doesn\u2019t focus on lower fees, that would be ideal for DeFi dapps that require the safest environment of all.<\/li>\n<\/ul>\n

  Polygon Miden<\/h3>\n

  Polygon\u2019s third public chain solution coming soon, Miden Virtual Machine is optimized for STARK-proofs and not for EVM equivalence. A STARK represents an innovative computation validation method, enabling the generation of proof that can be easily verified to confirm that a specific computation has been performed accurately. Polygon Miden, therefore, stands as the ecosystem\u2019s version of StarkNet.<\/p>\n

  While it may stand as a challenge for Solidity developers, Polygon presents it as a main actor in the next generation of dapp development while harnessing the security of Ethereum.<\/p>\n

  Polygon Supernets<\/h2>\n

  Announced on February 2022, Polygon Supernets is a new type of Polygon network that will be designed for specific use cases. They are based on Polygon\u2019s PoS consensus mechanism, but they offer a number of additional features that make them ideal for high-performance dapps.\u00a0<\/p>\n

  Projects get Polygon\u2019s assistance to create its own ecosystem on a Supernet. Here are some key features of Polygon Supernets:<\/p>\n

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  • Setting up a custom application-specific blockchain to run your projects\u2019 dapps<\/li>\n
  • Defining your own throughput and gas cryptocurrency<\/li>\n
  • Having total control over the network that your dapp is built on<\/li>\n
  • EVM compatible with zkEVM technology<\/li>\n<\/ul>\n

    Some of the first projects building with Polygon Supernets were announced in March 2023, including Korean games publisher Nexon with its game MapleStory Universe.<\/p>\n

    AI meets blockchain: Polygon Copilot<\/h2>\n

    In June 2023, Polygon introduced its AI Assistant Chatbot, named Polygon Copilot, leveraging OpenAI\u2019s ChatGPT technology. This development followed the launch of the final mainnet of its zkEVM solution for Ethereum in March. Polygon Copilot, energized by the GPT-4 large language model and trained using Polygon blockchain documentation, delivers analytics and insights to developers.<\/p>\n

    These insights are instrumental for those developing dapps, examining wallets and transactions, or crafting NFTs within the network\u2019s ecosystem. Polygon Copilot promises to open up a universe of interactions, accessible by simply \u2018asking\u2019, to dedicated builders, enthusiasts, or curious users.<\/p>\n

    Polygon ID<\/h2>\n

    Polygon ID is a decentralized identity solution allowing users to create and manage their own digital identities on Polygon.<\/p>\n

    It stands as the first identity solution enabling user interaction with smart contracts through zero-knowledge proofs, reliant on robust off-chain issued Verifiable Credential documents. This allows users to verify their identity without the need to reveal personal data to external parties.<\/p>\n

    The Polygon token: MATIC and POL<\/h2>\n

    MATIC, Polygon\u2019s native token, acts as the cornerstone of interactions within the network, facilitating transactions across numerous dapps. It is integral to the network\u2019s security, enabling staking mechanisms that underpin the Polygon PoS system. When users execute transactions or leverage applications on Polygon PoS, they pay a nominal fee in MATIC, which incentivizes validators to authenticate the transactions and secure the network.<\/p>\n

    In a major shift in July 2023, Polygon announced changes in its tokenomics, transitioning from MATIC to POL. Ever since Polygon\u2019s inception, MATIC has served as the native token for the protocol.<\/p>\n

    POL represents a technical upgrade and rebranding of the MATIC token and is envisaged as a next-generation protocol token, pivotal to the coordination and expansion of the Polygon ecosystem. It aims to be the key driver in realizing the vision of the internet\u2019s Value Layer. From the protocol\u2019s perspective, MATIC and POL will not coexist; instead, POL will replace MATIC as the protocol\u2019s native token \u2013 going live somewhat in 2024.<\/p>\n

    A bit of Polygon history<\/h2>\n

    Matic is what the Polygon network used to be called back in its creation in 2017. At first, it POS and Plasma chain hosted by Binance Launchpad, with a utility token that held the same name. It wasn\u2019t until February 2021 that it rebranded itself to the Polygon network.<\/p>\n

    In August of that same year, Polygon merged with Hermez network, a zkRollup platform that would evolve into what is now Polygon\u2019s zkEVM Validium.<\/p>\n

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