Polygon price (POL)

Price in CZK

24h change

Market Capitalization 826.07M USD

Circulating Supply 10,675,808,141

Polygon (POL)

Polygon (formerly Matic Network) is the most well-known Layer 2 solution built on top of the Ethereum blockchain, aiming to increase the network's scalability and reduce high transaction fees. The project is often referred to as the “Internet of blockchains for Ethereum” and today powers over 53,000 decentralized applications (dApps). In 2024, Polygon announced the transition to a new native token, POL, intended to serve as the unified currency across the entire Polygon ecosystem.

Use Cases

Polygon provides fast and inexpensive transaction solutions, enabling developers to build decentralized applications, NFT marketplaces, games, and corporate blockchain solutions. Its network runs on a Proof-of-Stake algorithm and enables scaling through custom sidechains and technologies like zkEVM. Thanks to extremely low costs and high Ethereum compatibility, Polygon is popular among major brands like Adobe, Starbucks, Adidas, Prada, and Meta, who are building their Web3 projects on it.

History and Origins

Polygon was founded in 2017 as Matic Network, which rebranded to Polygon in 2019. It was established by Indian developers Jaynti Kanani, Sandeep Nailwal, Anurag Arjun, and later joined by Mihailo Bjelic. From the beginning, the project has promoted interoperability and building interconnected blockchain networks, placing it in competition with projects like Polkadot and Cosmos. Polygon also collaborates with institutions such as the Indian government, developing blockchain-based solutions.

How Does Polygon Work?

Polygon operates as a layer above Ethereum, capable of processing up to 7,000 transactions per second at very low costs.

The network uses a Proof-of-Stake consensus model, where validators confirm transactions and maintain the network. To move assets between Polygon and Ethereum, bridge technologies are used — Heimdall & Bor (faster, more common method) and Plasma Bridge (more secure but slower method).

The core of the ecosystem is Polygon PoS, the foundational Layer 2 network. Other key products include:

Polygon zkEVM (mainnet live since 2023, compatible with Ethereum smart contracts),
Polygon Miden (zk-STARK technology built in Rust),
Polygon Supernets (infrastructure for creating custom blockchains),
Polygon ID (identity management for Web3 users).

Polygon continues to expand its ecosystem toward building a decentralized internet of the future.

On Polygon, users can create custom sidechains and leverage various scaling technologies tailored for specific applications. The maximum supply of POL tokens is capped at 10 billion.

How Is Polygon Different from Other Blockchains?

Polygon offers a comprehensive scaling solution for Ethereum, allowing faster transactions and lower fees while maintaining full compatibility with Ethereum’s existing ecosystem. Unlike standalone Layer 1 projects like Solana or Avalanche, Polygon tightly collaborates with Ethereum and builds on its security. Polygon’s focus on interoperability and mass adoption of dApps places it in competition with projects like Polkadot and Cosmos, but with a unique emphasis on Layer 2 solutions over Ethereum.

Sources

Websites

Official website

Whitepaper

Blockchain explorer

Socials

Polygon and what people ask most:

Why is Polygon transitioning from MATIC to POL?

Polygon is transitioning to POL to unify its token model across all its networks and to prepare for the launch of a multi-chain ecosystem under the new Polygon 2.0 architecture.

What is the difference between Polygon PoS and Polygon zkEVM?

Polygon PoS is a classic Proof-of-Stake network designed to scale Ethereum, while Polygon zkEVM is a fully Ethereum smart contract-compatible solution using zk-rollups for higher security and scalability.

Few of our numbers

2014

Our founding year. In crypto,
one decade is a small eternity.

€4 B

The volume we managed to trade so far.

120 k+

People from all over the world put their trust in us. Thank you.