What Is Polygon (MATIC)?

Polygon (previously Matic Network) is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building multiple types of applications.

Using Polygon, one can create optimistic rollup chains, ZK rollup chains, stand alone chains or any other kind of infra required by the developer.

Polygon effectively transforms Ethereum into a full-fledged multi-chain system (aka Internet of Blockchains). This multi-chain system is akin to other ones such as Polkadot, Cosmos, Avalanche etc. with the advantages of Ethereum’s security, vibrant ecosystem and openness.

The $MATIC token will continue to exist and will play an increasingly important role, securing the system and enabling governance.

Polygon (formerly Matic Network) is a Layer 2 scaling solution backed by Binance and Coinbase. The project seeks to stimulate mass adoption of cryptocurrencies by resolving the problems of scalability on many blockchains.

Polygon combines the Plasma Framework and the proof-of-stake blockchain architecture. The Plasma framework used by Polygon as proposed by the co-founder of Ethereum, Vitalik Buterin, allows for the easy execution of scalable and autonomous smart contracts.

Nothing will change for the existing ecosystem built on the Plasma-POS chain. With Polygon, new features are being built around the existing proven technology to expand the ability to cater to diverse needs from the developer ecosystem. Polygon will continue to develop the core technology so that it can scale to a larger ecosystem.

Polygon boasts of up to 65,000 transactions per second on a single side chain, along with a respectable block confirmation time of less than two seconds. The framework also allows for the creation of globally available decentralized financial applications on a single foundational blockchain.

The Plasma framework gives Polygon the potential of housing an unlimited number of decentralized applications on their infrastructure without experiencing the normal drawbacks common on proof-of-work blockchains. So far, Polygon has attracted more than 50 DApps to its PoS-secured Ethereum sidechain.

MATIC, the native tokens of Polygon, is an ERC-20 token running on the Ethereum blockchain. The tokens are used for payment services on Polygon and as a settlement currency between users who operate within the Polygon ecosystem. The transaction fees on Polygon sidechains are also paid in MATIC tokens.

Overview

In this dashboard, I will answer this question from Flipside Crypto:

• What is the average time between blocks on Polygon?
• What was the maximum and minimum recorded time between two blocks? How many transactions are done in a block on average? How do these numbers compare to L1 such as Flow or Solana, or other L2 such as Arbitrum or Optimism?

Method

• For solve this question I use Polygon, Flow, Solana, Arbitrum and Optimism schema and fact_blocks and fact_transactions table.

Conclusion

• Polygon Network experienced nearby 2.2s on average time needed for create a new block and Min time needed for create a block was 2s and Max time was 25s and on Average Polygon Network had nearby 71 transactions in each block.
• Flow Network experienced nearby 1.4s on average time needed for create a new block and Min time needed for create a block was 0s and Max time was nearby 4.7h and on Average Flow Network had nearby 11 transactions in each block.
• Solana experienced nearby 0.7s on average time needed for create a new block and Min time needed for create a block was 0s and Max time was 4.4h and on Average Solana had nearby 301 transactions in each block.
• Arbitrum Network experienced nearby 1.1s on average time needed for create a new block and Min time needed for create a block was 0s and Max time was 6.4h and on Average Arbitrum Network had nearby 1.1 transactions in each block.
• Optimism Network experienced nearby 0.9s on average time needed for create a new block and Min time needed for create a block was 0s and Max time was 58s and on Average Optimism Network had nearby 1 transactions in each block.

It seems L1 Blockchains are busier than L2 Networks and between Arbitrum and Optimism, Optimism has better performance.

In L1 Blockchain Polygon’s performance is Amazing.