Deep Dive
1. Purpose and technology
Polygon’s proof-of-stake network processes transactions using its own validators, with the goal of easing congestion and reducing costs for users and applications connected to Ethereum. Proof of stake means validators lock up tokens to help confirm transactions and secure the network. Polygon also develops technology to connect and scale multiple chains. (CoinMarketCap)
2. POL’s role
POL is Polygon’s native token. On Polygon PoS, users pay transaction fees in POL, and validators stake it to participate in securing the network and earn rewards. POL replaced MATIC through a token migration that began on 4 September 2024. (CoinMarketCap)
Conclusion
Polygon is blockchain infrastructure designed to scale Ethereum, while POL supplies the fees and staking that help run its proof-of-stake network. How effectively can Polygon make transactions simpler and cheaper across its ecosystem?
