The relentless trailblazer of the new digital world ☄️
Built for scalability & seamless integration into the decentralized ecosystem 💻
Do you know the story behind the decentralized powerhouse changing the game of blockchain 🚀
Get ready for an in-depth look at @0xPolygon💜🧵
📃 Matic Network, later rebranded to Polygon, is a Layer 2 scaling solution for @ethereum, focused on providing fast and cheap transactions.
The vision is to build an Internet of blockchains, connecting the Ethereum mainchain to other Ethereum-compatible chains.
🤔 The inception of Matic Network came from the co-founders' frustration with the scalability issues faced by the Ethereum network.
They saw the potential for a solution that could alleviate these issues, allowing for more widespread adoption of decentralized applications.
👨💻 @ethereum, despite its strengths, faced challenges in terms of scalability & high gas fees.
It stifled the adoption, efficiency, and user experience.
Polygon's sidechain architecture provides a solution to these issues, enabling fast and affordable transactions for users.
❓ Why Polygon?
Scalable: Supports millions of transactions per second
Affordable: Lower transaction fees compared to Ethereum mainchain
Compatible: Built on Ethereum, fully compatible with existing Ethereum tools & Ecosystem
Interoperable: Connects to other EVM blockchains
📝 In 2017, the co-founders, @sandeepnailwal, @jdkanani, @anuragarjun & @MihailoBjelic started working on Matic Network
MATIC, its native token, debuted on the @binance Launchpad in 2019 amid the ICO boom along the MVP, allowing developers to deploy their dApps.
📢 Matic Network launched its mainnet in May 2020, and rebranded to Polygon in February 2021 to reflect its wider mission & vision.
In December 2021, Polygon acquired the Mir blockchain network for 250 Million MATIC tokens (about $400M at the time of the deal)
🔌 In 2021, Polygon announced the Polygon SDK, a collection of plug-and-play tools for developing blockchain & DeFi applications.
It uses 3 concepts: Ethereum compatibility, modularity, and extensibility, letting devs build scaling solutions & infrastructure on the ecosystem.
💸 In February 2022, Polygon raised $450 million by selling MATIC tokens in a round led by @sequoia including reputed names in the industry like Tiger Global and @SoftBank Vision Fund.
And, in December 2022, it crossed over 65000TPS!
🆕 Polygon's initiatives:
• Polygon SDK: Toolkit for developers to build & deploy EVM blockchain networks
• Polygon Investment Fund: Investment fund for developers & projects building on Polygon
• Polygon Academy: Educational platform for developers to learn
📈Polygon has since seen significant growth, with over 135M+ unique addresses & over $4B+ matic staked
With the help of advisors like @hudsonjameson, @RyanSAdanns, @petejkim & investors like @BinanceLabs, @cbventures & @sequoia's latest $450 million funding
🤝 Despite the bearish market, Polygon continues to partner with global brands like @Meta, @Reddit, @Adobe, @Starbucks, @NFL, @LFC
NFT marketplaces like @opensea, @refinableapp, @zestymarket, @NFTradeOfficial
DeFi projects like @QuickswapDEX, @Uniswap, @CurveFinance & more.
🔝 Polygon has become a key player in the Web3 ecosystem, attracting major projects and partnerships.
With its focus on scalability and interoperability, Polygon is well-positioned for future growth and adoption.
🔭 Polygon’s ultimate vision is to build an interconnected ecosystem of L2 sidechains or the Internet of Ethereum Blockchains.
This is the complete journey of Polygon till now! 🚀
Please like, comment & retweet the first tweet if you enjoyed this thread 🙏
Follow @forweb3media for more such threads
@PolygonGaming @PolygonDaily @0xPolygonDevs @0xPolygonDao @PolygonNews_
#web3 #crypto #project #polygon #forweb3 #blockchain #Web3
Share this Scrolly Tale with your friends.
A Scrolly Tale is a new way to read Twitter threads with a more visually immersive experience.
Discover more beautiful Scrolly Tales like this.