Simple intro of Polygon

Matic Network
Before the rebranding to Polygon, the project was known as Matic or Matic Network.

Matic was started in 2017 by 3 founders who were active participants in the cryptocurrency community in India and decided to band together and tackle Ethereum’s scaling problems.
The team worked on 2 main solutions:

Plasma Chains – a layer 2 scaling solution based on Matic’s implementation of Plasma and a PoS Chain – a Proof-Of-Stake Ethereum sidechain.

The token behind Matic Network – MATIC – was distributed through the Binance Launchpad’s initial exchange offering in April 2019 and the team was able to raise $5.6M.

After over 2.5 years of work, The Matic Network Mainnet went live in mid-2020 and quickly started attracting more and more attention. This was supercharged by the increasing gas fees on Ethereum that showed an urgent need for finding robust scaling solutions.