Polygon is an Ethereum token that powers the Polygon Network, a multi-chain solution for Ethereum scaling and infrastructure development. Polygon aims to provide faster and cheaper transactions on Ethereum using Layer 2 sidechains that run on blockchains alongside the main Ethereum chain.
It effectively transforms Ethereum into a full-fledged multi-chain system (also known as the Internet of Blockchains). This multi-chain system is similar to Polkadot, Cosmos or Avalanche combined with the security and ecosystem of Ethereum.
It combines the Plasma Framework and the proof-of-stake protocol. The Plasma Framework enables the simple execution of smart contracts. New features build on proven technology to adapt to different needs.
It boasts up to 65,000 transactions per mod minute on a single sidechain, while the confirmation time is less than two seconds.