Mapping out Polygon's ecosystem

Polygon (formerly Matic) was founded in 2017 by Jaynti Kanani, Sandeep Nailwal, Anurag Arjun, and Mihailo Bjelic to provide a scaling solution and framework for Ethereum-compatible blockchain networks. With the rise in popularity of decentralized finance (DeFi) applications and non-fungible tokens (NFTs), the Ethereum network has become increasingly congested, with hight cost transactions and limited throughput limiting the effectiveness and possibilities offered by these technologies.

Polygon allows users to deposit Ethereum and ERC-20 tokens to a Polygon bridge smart contract, interact with them within Polygon’s ecosystem, and then withdraw them back to the Ethereum blockchain.