pgon

pgon, also known as Polygon, is a decentralized platform that aims to improve the scalability and usability of Ethereum. It functions as a framework for building and connecting blockchain networks that are compatible with Ethereum. Polygon's core innovation is its Proof-of-Stake (PoS) consensus mechanism, which offers a faster and more energy-efficient alternative to Ethereum's original Proof-of-Work (PoW) system.

The Polygon network allows developers to create custom, application-specific blockchains that can interoperate with the Ethereum mainnet. This approach aims to reduce transaction fees and increase transaction speeds, addressing some of the key limitations of the Ethereum ecosystem. Polygon supports a wide range of decentralized applications (dApps), including decentralized finance (DeFi) protocols, non-fungible tokens (NFTs), and gaming platforms.

By providing a comprehensive suite of scaling solutions, Polygon seeks to become a "layer-2" scaling solution for Ethereum. This means it operates on top of the Ethereum mainnet, processing transactions off-chain before submitting them back to Ethereum in batches. This strategy significantly reduces the burden on the mainnet, leading to lower gas fees and faster confirmation times for users and developers. The native cryptocurrency of the Polygon network is MATIC, which is used for transaction fees, staking, and governance.