The problems with the scalability of Ethereum are known, perhaps, to everyone who is somehow familiar with cryptocurrencies. At the moment, the network is going through a transformation that should allow it to increase its efficiency, but it is difficult to predict when exactly it will end, since this process is extremely complex and responsible. In order not to wait for the weather by the sea, representatives of the crypto community come up with their own ways out of a problematic situation. One of the projects that decided to make life easier for users was Polygon.
Polygon is a so-called Layer-2 solution for the Ethereum network. The main component of Polygon is an adapted version of the Plasma protocol, with which a copy of the Ethereum blockchain was created - the child chain. Periodically, the system photographs its condition and transmits the impression to the Ethereum blockchain. This is done so that in case of conflicting transactions, users have the opportunity to "roll back” to an earlier version of Plasma (”checkpoint") stored on the Ethereum network.
Polygon consists of three levels. The first is where smart contracts work, connecting the Polygon architecture with Ethereum. At the second level, validators function that transmit PoS network information to Ethereum. At the last level, blocks are formed based on transactions occurring on Plasma. This is where developers can place their applications initially running on Ethereum.
Lower fees and faster Polygon transactions led not only to the rapid development of the network, but also contributed to the soaring cost of the native MATIC token. Since the beginning of the year, it has grown by 4900%.