Polygon blockchain development

Polygon (Matic) is a child blockchain (sidechain) of Ethereum, created in October 2017, originally called MaticNetwork. Boosty Labs is the largest blockchain development outsourcing company in Europe. Its world-class fintech and cloud engineering team with a solid background of practice that combines consulting, strategy, design and engineering at scale, can help with outsource development of Polygon and provide advisory services.
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Polygon advantages over other blockchains

Powerful team

The team of Polygon developers of this crypto platform consists of experienced professionals who understand the principles of the crypto market, as well as the needs of its participants. This helps to form a solid foundation for further growth and development of this platform.

MATIC coin potential

MATIC coin has full support for smart contract technology, as well as full compatibility with blockchain platforms, which expands the potential for using the coin.

MATIC price growth

The Ethereum-based blockchain platform token has become one of the grandest success stories of 2021. At its peak in mid-May, its value increased by more than 10,000% compared to the beginning of the year.

Merits of the Polygon project

Ample opportunities for cooperation with DApps-developers

Among the projects based on the Polygon blockchain (Matic), there is a service for loans and credits (Aave) and a decentralized exchange (SushiSwap), as well as video games (NeonDistrict and Aavegotchi).

Technological parameters of the project

Improved UX design simplifies user interaction with decentralized platforms and DApps; the Proof-of-Stake consensus mechanism ensures the security of the platform and transactions performed by users. 

Active market penetration

The project cooperates with large companies in the crypto industry; the native token has been listed on the largest exchanges Binance and HuobiGlobal and Coinbase and is free to move between different platforms; the mobile application of the MaticWallet project allows users to store their assets.

Openness for new users

In Polygon, anyone can join the network and start checking the state of the blockchain. This is important, as it allows any network participant to become validators and independently verify the correctness of all transactions processing.

One of the founders of Polygon (Matic Network), Sandeep Nailwal, after graduating from university, where he studied computer science, worked for several years as a software engineer. After that, he got an MBA in this area and first got a job at the consulting company Deloitte, and then became the CTO of the online sales department of the Indian pipe manufacturer Welspun. 

Later he met Jaynti Kanani and Anurag Arjun, the future co-founders of the Matic Network. Kanani was a data scientist for a local rental service, and Arjun worked for companies that provided software to various banks. 
 
Together, the trio created the first version of the Matic Network in 2017. They set themselves an ambitious goal of solving the problem of decentralized applications (DApps) on Ethereum. 

In 2020, when Matic Network officially changed its name to Polygon, and at the same time set even more ambitious goals, the Serbian programmer Mihailo Bjelic joined the team.

Matic Network is a platform for scaling Ethereum. This means that Matic is not a separate blockchain – rather, it is a superstructure on top of Ethereum, which allows users to access the functionality of the second cryptocurrency. 
 
The main function of the Matic Network was to solve the Ethereum scalability problem. The latter remains the main platform for building decentralized applications, but the implementation on the web is not ideal. As soon as DApps became popular, a large number of operations overwhelmed Ethereum, which led to a churn of users. 
 
Matic Network offered a second layer solution – instead of conducting transactions directly on the network Ethereum, they were first processed by Matic himself. This was done using Plasma technology. And only after that, the transactions were included into the main Ethereum network. This allowed the Matic Network to achieve a speed of 7,200 transactions per second (TPS). For comparison, for Ethereum, this figure is about 15.

In 2021, the creators rebranded the network – it became known as Polygon. But in addition to the new name, it also has new functions. It is now a platform for creating interconnected Layer 2 blockchain networks. In other words, using the Polygon SDK, anyone can create their own blockchain for specific purposes. 
 
The platform has its own service cryptocurrency MATIC. It first went public in 2019. Then during the IEO the company sold 3.2 billion tokens, which is about 32% of the total supply.