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Introduction to Polygon (MATIC)

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) Source: @crypto-guides

There is a section in the "What is Polygon (MATIC) crypto? - Polygon Guide" titled "Introduction to Polygon (MATIC)"; with this post I hope to contribute an item or two we don't usually hear about from both legacy media and even cryptocurrency-oriented media. Feel free to adjust as needed for Guide purposes.

According to the offical web site for Polygon (the crypto formerly known as MATIC {almost like Prince}),

Polygon is an open source project built by decentralized team of contributors from all over the world.

... and...

Polygon is a protocol and a framework for building and connecting Ethereum-compatible blockchain networks

If Bitcoin excels as a payment system-- and the purpose of money (of any kind) is to be used as a medium of exchange between buyers and sellers-- then Ethereum excels as a platform to add fucntionality to make money work harder and smarter for us as individuals and businesses.

Although other cryptocurrencies were created as variations of Bitcoin (Litecoin, Bitcoin Cash, even Dogecoin), it was Ethereum which took cryptocurrencies to a higher level of utility. Just look at the number of ERC-20 tokens which proliferated afterward, not to mention the establishment of the ERC-721 standard which made possible the creation of NFTs.

Over time, the number of blockchains based on Ethereum exploded. It's almost like a federation which consists of independent worlds and grants membership status to new worlds all the time. ("Worlds" in the generic sense of areas, counties, nations, and states.) All share a common ancestry and operate the same way with differences here and there.

However, it's not as easy for one ERC-20 blockchain to relate to another ERC-20 blockchain. Just as Spanish and Portuguese are Romance languages but distinct enough to sound different from each other-- and French is even more distinct than both Spanish and Portuguese-- this situation exists in the world of blockchains descended from Ethereum.

The purpose of Polygon is to bridge the gap between and among those blockchains claiming Ethereum as an ancestor.

As powerful as Ethereum is, it has its limitations. Polygon's role is to overcome those limitations.

The rest of this Guide will explain in more detail how Polygon works, its features, the experience for developers and token holders, the wallets accepting MATIC, the pros and cons of Polygon, and if you should buy Polygon in 2021.

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