Polygon was formerly called Matic Network. Polygon (MATIC) is an Ethereum token that powers the Polygon Network, a scaling solution for Ethereum. Polygon aims to provide faster and cheaper transactions on Ethereum using Layer 2 sidechains, which are blockchains that run alongside the Ethereum main chain. Users can deposit Ethereum tokens to a Polygon smart contract, interact with them within Polygon, and then later withdraw them back to the Ethereum main chain. The MATIC token is used to pay transaction fees and participate in proof-of-stake consensus.
Integrating Immutable X will give OpenSea users a "gas-free trading experience without sacrificing the security of the Ethereum network." The post NFT marketplace OpenSea plans to integrate Layer 2 protocol Immutable X appeared first on The Block.
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