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Polygon, formerly known as MATIC Network, was created in 2017. It is a scalable platform created by a group of Indian blockchain engineers. As a Layer 2 scalability solution for Ethereum, it is known as 'Ethereum's Internet of Blockchains'. Today, Polygon has become one of the major blockchains. It integrates Ethereum and sovereignty blockchains to form a more sophisticated multi-chain system. The emergence of Polygon network also solves the problems of high gas fee and low speed on the Ethereum network.
Today's Polygon network has become a 'dark horse' popular among institutional investors. Its transaction volume is three times that of the Ethereum network, but the Gas fee is only 0.01% of the Ethereum network. The birth of the Polygon network also helped with the openness and inclusiveness of Ethereum, which in turn improved the Ethereum ecosystem. As a protocol and a framework, Polygon is compatible with EVM and can be used to build and connect to Ethereum-compatible blockchain networks. This feature enables developers to deploy smart contracts and ecological applications on the Polygon network with more flexibility, and enjoy lower Gas fees and faster speed.
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