Polygon, represented by the symbol MATIC, is a layer-2 scaling solution for the Ethereum blockchain. It aims to provide a scalable and efficient infrastructure for building and deploying decentralized applications (DApps) by overcoming the limitations of the Ethereum network, such as slow transaction speeds and high gas fees.
Polygon uses a combination of various scaling technologies, including Plasma, zk-rollups, and optimistic rollups, to enable faster and more cost-effective transactions. The native cryptocurrency of the Polygon network is MATIC, which is used for various purposes, including paying transaction fees, staking, and participating in the network's governance.