Formerly known as MATIC, Polygon is the first well-organized, easy-to-use platform for Ethereum scaling and infrastructure development. The core component is Polygon SDK, which is a modular, flexible framework that supports building multiple types of applications. Polygon effectively transforms Ethereum into a multichain system. What makes Polygon so unique is that its self described as a Layer 2 scaling solution. This means that there are no plans to upgrade its current basic blockchain layer anytime soon. Polygons project puts a focus on reducing the complexity of scalability and instant blockchain transactions.

With the use of plasma side chains the Matic network built an environment that enabled cheaper, easier, and faster launch of decentralized applications to the market. The attractiveness of the matic solution is backed by high gas fees on Ethereum and increased demand in the development of decentralized applications.

Decentralized finance firm Aave is working with Polygon to address the congestion that is being experienced on the second largest blockchain. Together they will be exploring scalable sidechains to escape the high transaction fees that currently exist on Ethereum. They also plan on solving other drawbacks that Ethereum has such as poor user experience (delayed transactions), insufficient throughput, and lack of community governance with a new sidechain solution. 

MATIC is a very unique coin and CrossTower is excited to add it to our global platform. CrossTower is very excited to support such an innovative coin. CrossTower wants to be able to provide its users with a wide range of digital assets.

CrossTower Inc. provides this content for general information purposes, to better inform you on your digital asset investment journey. We do not provide investment recommendations or provide tax advice. Please consult your investment professional or tax advisor if you require assistance in these areas.

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