Before jointly starting Polygon (formerly Matic), Sandeep had served as the CEO of Scopeweaver, and the chief technical officer of Welspun Group.Īnurag Arjun is the only non-programming co-founder of Polygon. Prior to his blockchain involvement, Jaynti worked as a data scientist with .Ĭo-founder and chief operations officer of Polygon, Sandeep Nailwal is a blockchain programmer and entrepreneur. Jaynti played an integral role in implementing Web3, Plasma and the WalletConnect protocol on Ethereum. Jaynti, a full-stack developer and blockchain engineer currently serves as the CEO of Polygon. The team included co-founder of Polygon, Jaynti Kanani. The team worked on implementing the Plasma MVP, the WalletConnect protocol and the widely-used Dagger event notification engine on Ethereum. Polygon was co-founded by Jaynti Kanani, Sandeep Nailwal and Anurag Arjun, two experienced blockchain developers and a business consultant.īefore moving to its network in 2019, the Polygon team was a huge contributor in the Ethereum ecosystem. Polygon (formerly Matic Network) was launched in October 2017. The transaction fees on Polygon sidechains are also paid in MATIC tokens. The tokens are used for payment services on Polygon and as a settlement currency between users who operate within the Polygon ecosystem. MATIC, the native tokens of Polygon, is an ERC-20 token running on the Ethereum blockchain. So far, Polygon has attracted more than 50 DApps to its PoS-secured Ethereum sidechain. The Plasma framework gives Polygon the potential of housing an unlimited number of decentralized applications on their infrastructure without experiencing the normal drawbacks common on proof-of-work blockchains. The framework also allows for the creation of globally available decentralized financial applications on a single foundational blockchain. Polygon boasts of up to 65,000 transactions per second on a single side chain, along with a respectable block confirmation time of less than two seconds. Polygon will continue to develop the core technology so that it can scale to a larger ecosystem. With Polygon, new features are being built around the existing proven technology to expand the ability to cater to diverse needs from the developer ecosystem.
Nothing will change for the existing ecosystem built on the Plasma-POS chain. The Plasma framework used by Polygon as proposed by the co-founder of Ethereum, Vitalik Buterin, allows for the easy execution of scalable and autonomous smart contracts. Polygon combines the Plasma Framework and the proof-of-stake blockchain architecture. The project seeks to stimulate mass adoption of cryptocurrencies by resolving the problems of scalability on many blockchains. Polygon (formerly Matic Network) is a Layer 2 scaling solution backed by Binance and Coinbase. The $MATIC token will continue to exist and will play an increasingly important role, securing the system and enabling governance. with the advantages of Ethereum’s security, vibrant ecosystem and openness. This multi-chain system is akin to other ones such as Polkadot, Cosmos, Avalanche etc. Polygon effectively transforms Ethereum into a full-fledged multi-chain system (aka Internet of Blockchains). Using Polygon, one can create optimistic rollup chains, ZK rollup chains, stand alone chains or any other kind of infra required by the developer. To learn more about this project, check out our deep dive of Polygon Matic.
Its core component is Polygon SDK, a modular, flexible framework that supports building multiple types of applications. Polygon (previously Matic Network) is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development.
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