Polygon is a Layer 2 scaling solution that functions in conjunction with the Ethereum blockchain — allowing for faster transactions and lower fees.

Polygon is a framework created to enhance the scalability of Ethereum. It achieves this by utilizing a modular structure known as the Polygon SDK, which enables developers to build new chains using a variety of Layer-2 solutions. Initially launched in 2017 as Matic Network, the project concentrated on creating its own Layer-2 solution based on Plasma, which achieved great success. 

In February 2021, the project rebranded as Polygon and shifted its focus to providing the necessary infrastructure for developers to construct and use their preferred scaling solution. Supported solutions include Plasma, Rollups, zkRollups, and other standalone sidechains. The Matic POS, an existing product, will remain supported as one of the many scaling solutions available. Furthermore, the team aims to expand beyond Ethereum and offer cross-chain interoperability.

MATICPolygon

Polygon to undergo Agra Hard Fork