Buy POL

Polygon (formerly known as the Matic Network) is a solution to Ethereum's scalability problem. It provides a framework that allows developers to quickly and easily build scalable and interoperable blockchain applications.

Many traditional blockchains suffer from slow transaction processing speeds and high fees. Polygon solves this problem by using separate blockchains, called sidechains, that are connected to the Ethereum blockchain. By processing transactions outside of Ethereum, network congestion is reduced, allowing transactions to be executed faster and at a lower cost.

Polygon offers several products and features, including Polygon SDK, a modular and flexible framework for building decentralized applications (dApps). The POL token plays an important role in the Polygon ecosystem. It is used to pay transaction fees and as a governance token, allowing the community to influence Polygon's development.

Who founded Polygon (POL)?

Polygon was founded by Jaynti Kanani, Sandeep Nailwal, Anurag Arjun, and Mihailo Bjelic. The project was launched in 2017 under the name Matic Network and quickly became a major player in the scalability space of the blockchain industry.

The team behind Polygon has extensive experience in blockchain technology and has worked with renowned companies such as Coinbase, Binance, and Chainlink. The team consists of over 50 professionals who work on the development and growth of the Polygon ecosystem.

Polygon offers several features and usage possibilities that appeal to both developers and users:

• Scalable dApps: Developers can use the Polygon SDK and sidechains to build scalable decentralized applications (dApps) that support fast transaction processing.
• Interoperability: Polygon enables the exchange of assets and data between different blockchains, promoting interoperability between blockchains.
• NFT platforms: Artists and collectors can use Polygon to create, trade, and collect non-fungible tokens (NFTs) at lower fees than on the Ethereum blockchain.

Polygon is built on the Ethereum blockchain and uses a Proof-of-Stake consensus mechanism to validate transactions. Despite having its own network, Polygon uses the security of Ethereum by being based on this blockchain.

For every transaction that takes place on Polygon, checkpoints are created on Ethereum. These checkpoints verify that the transactions have been processed correctly within Polygon, so that they can be safely stored on the Ethereum blockchain. Polygon is the only Ethereum sidechain that uses checkpoints.

Within the Polygon ecosystem, programming languages such as Solidity and Vyper are widely used, which are also used to develop smart contracts in Ethereum.

Sidechains

Polygon processes transactions on sidechains, which means they are processed outside of Ethereum. Users can use the Polygon network for Ethereum transactions and have a choice of several scaling solutions. The most popular scaling solutions are Plasma Chains, zk-Rollups, and Optimistic Rollups. Users can choose which scaling solution and technology best suits their transaction.

• Plasma Chains: This is where transactions are bundled together before being stored on the Ethereum blockchain.
• zk-Rollups: This technique combines multiple transactions into one transaction, allowing for faster processing of a larger number of transactions.
• Optimistic Rollups: Token and smart contract transactions are accepted instantly, promoting scalability.

Developers can also set up a sidechain themselves. They can use supported techniques such as zk-Rollups and Optimistic Rollups.

Polygon distinguishes itself from other blockchain platforms through a range of unique features and functions:

• Scalability: Using a layer 2 scaling solution, Polygon enables faster transactions and lower fees for Ethereum transactions. Polygon can process up to 65,000 transactions per second, significantly higher than Ethereum's 14-17 transactions per second.
• Interoperability: Polygon is interoperable with Ethereum, allowing developers to easily build applications that work on both networks. This increases the adoption and usability of Polygon.
• Community: With a large and active community of developers, users and investors, the ecosystem continues to grow, with new projects being launched regularly.
• Versatility: Polygon offers flexibility for developers through various solutions, such as zk-Rollups and Optimistic Rollups.
• Use of checkpoints: Polygon is the only Ethereum sidechain that uses checkpoints to verify transactions, furthering the security of both Polygon and Ethereum.

Polygon and Ethereum are both blockchain networks that support assets and smart contracts. Despite their close connection, they have different characteristics.

Ethereum is the primary platform for smart contracts and dApps. However, it suffers from scalability issues leading to high transaction fees and slow processing times.

Polygon is designed as a scalability solution over Ethereum. It improves transaction speed and reduces costs for users and developers. Because Polygon is interoperable with Ethereum, developers can easily extend their existing Ethereum applications to the Polygon network, improving the efficiency and scalability of these applications.

Polygon can be purchased at Bitvavo. Our trading platform is accessible to both new and experienced traders. Here's how to buy POL:

1. Log in to your Bitvavo account or register a new account.
2. Fund your account using the "Deposit" option.
3. Visit Polygon's buy page.
4. Enter the amount in euros you want to spend or the number of POL you wish to purchase and click "Buy".

The price of POL depends on Polygon's price. As soon as you complete the purchase, your POL tokens will be automatically added to your Bitvavo wallet. From this wallet, you can sell your POL tokens in just a few clicks, allowing you to respond directly to market movements.

Store your Polygon coins safely in your Bitvavo account, where we keep most of our customer funds in securely managed offline cold wallets. Enabling two-factor authentication (2FA) is highly recommended as an extra layer of security for your Bitvavo account.

If you choose to store your POL in a personal wallet, it is important to know that most software and hardware wallets support Polygon. Buy POL at Bitvavo and send it to an external wallet by first linking your wallet address to your Bitvavo account.