Polygon was founded in 2017 as Matic Network. It is the brainchild of seasoned Ethereum developers Jayant Kanani, Anurag Arjun, Sandeep Nailwal and Mihailo Bjelic. Plasma is the leading blockchain scaling solution in 2017. As such, Matic employs a Plasma-driven scaling approach and PoS sidechains to assist Ethereum as its demand rises. Matic’s proof-of-stake became one of the most prominent scaling options for most decentralized applications at the time.
The platform held an IEO on Binance in 2019, raising $5.6 million in ETH through the sale of $MATIC. The Matic network went live in June 2020 with Plasma and PoS chains, and some top games will be brought to Matic by the end of 2020.
Matic, which changed its name to Polygon in February 2021, is not just a scaling solution for Ethereum. Two months after the name change, the platform is ready to join major DeFi protocols. The team believes that several scaling solutions can coexist and is working on creating an infrastructure to make this happen.
The team launched Polygon Studio and Polygon Edge in summer 2021. During this period, Polygon Avail was also launched as a rollup. Polygon Maiden launches in November 2021 as a ZK-STARK extension solution. On February 8, 2022, Polygon completed a new round of financing of US$450 million, led by Sequoia India, with participation from SoftBank, Galaxy, Tiger, and Republic.
Data of the Blockchain
The number of daily active transactions on Polygon is 2.94 million, and the daily gas cost of users is only about 30,000 US dollars; the current total locked position of Polygon is 4.22 billion US dollars. In terms of active addresses, the total number of dApps on the Polygon network is 326,000, with more than 350 popular DApps, and DeFi and NFT applications have become mainstream on Polygon.
Jayant Kanani，Polygon Technology Co-founder
Kanani is an experienced blockchain engineer. His interest in cryptocurrencies started when he saw Bitcoin/Ethereum as a viable payment option for Game of Theories. In this setup, one can theoretically wager real money on TV series/movies. He has previously worked in various companies as a data scientist, senior software engineer, and software craftsman among other roles.
Polygon Technology Co-founder Sandeep Nailwal
Sandeep is an entrepreneur and software engineer. He served as Chief Operating Officer of Matic/Polygon from November 2017 to December 2021. Before co-founding Polygon, Sandeep co-founded ScopeWeaver.com as CEO.
Polygon Technology Co-founder Anurag Arjun
According to his LinkedIn profile, Arjun has various assignments at Polygon, such as defining the roadmap for the product and acting as a bridge between economics, research and engineering capabilities, and API documentation. Before joining Polygon, he worked as a project manager in various companies.
Polygon Technology Co-founder Mihailo Bjelic
Mihailo is an Information Systems Engineer. He graduated from the University of Belgrade with a degree in Information Systems Engineering.