Polygon

Polygon, formerly Matic Network, is a blockchain platform designed to establish a multi-chain system compatible with Ethereum. It employs a proof-of-stake consensus mechanism similar to Ethereum for on-chain transactions, with its native token being POL. Functioning as a "layer two" or "sidechain" scaling solution alongside Ethereum, Polygon facilitates quicker transactions and lower fees. Its inception aimed to tackle Ethereum's major challenges, including high fees, subpar user experience, and limited transaction throughput, aspiring to create an "Ethereum's internet of blockchains" or a multi-chain ecosystem of Ethereum-compatible blockchains.

Token symbol:
POL

Scalability Metrics:
Polygon TPS is 49.18 transactions per second
Polygon Max TPS is 429.1 transactions per second
Polygon Max Theoretical TPS is 714.3 transactions per second
Polygon transaction volume is 177,033 transactions
Polygon block time is 2.12s
Polygon finality is 5s
Polygon is a sidechain
Polygon was launched on May 30, 2020 (5 years ago)

Decentralization Metrics:
Polygon nakamoto coefficient is 4
Polygon has 104 validators
Polygon stake is $3.46B
Polygon consensus mechanism is Proof of Stake (PoS)
Polygon governance is off-chain