TL;DR Breakdown
- MATIC Network announces its rebranding as Polygon.
- Polygon plans to help Ethereum get ahead of Polkadot.
- The team has promised to keep its previous products active.
MATIC Network rebrands as Polygon
MATIC network, a project developing a layer-two solution on Ethereum, has recently announced that it is rebranding as Polygon. This move from the network indicates a key change to becoming a layer-two aggregator.
The platform shared the news of its rebranding with U.Today, which revealed it would henceforth continue its evolution as Polygon. This rebranding is going to help the startup in its technological and marketing strategies.
Now that the network is rebranding as Polygon, the team would focus its energy increasingly on providing multichain interoperability. The new ecosystem’s purpose is to support other Ethereum scalability solutions such as ZKRollups, Optimistic Rollups and Validium.
This will make it easier to control large amounts of transactions on the ETH blockchain, hence solving the problem of scalability and high network fees. The aim is to give developers more options when choosing the scaling solution without being forced into choosing one. This strategy will be deployed on the new Polygon SDK.
MATIC Network promises to keep its previous solutions active
The India-based project aims to help Ethereum get ahead of its competition, Polkadot. Some weeks ago, the DOT (Polkadot’s native token) displaced XRP as the fourth-placed crypto by market capitalization.
To achieve its goal, Polygon has brought notable personalities onboard, including top Ethereum developers, researchers and advisors, Ryan Sean Adams, founder of Mythos Capital; Anthony Sassano of EthHub; Hudson Jameson and John Liliac.
While the project is ongoing, Polygon has promised that all the products that were developed under MATIC, including its principal implementations– MPoS Chain and Matic Plasma Chains –will continue to function.
They are considered a key component of the Polygon ecosystem and thus the team will not cease to work with them.
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