Polygon: Open Source DeFi Ecosystem for Blockchain Networks

Polygon: Open Source DeFi Ecosystem for Blockchain Networks

Polygon: Open Source DeFi Ecosystem for Blockchain Networks

In this first post of June, we will address another Open Source Development of the DeFi Realm. Specifically we will explore and learn the essentials about an interesting and useful DeFi Platform (Ecosystem)Called «Polygon », which incorporates a growing catalog of open and unopened applications.

«Polygon », it's basically a protocol and a development framework used to build and connect blockchain networks compatible with Ethereum. All about a platform whose objective is to create new functions that increase the capacity of the network itself, in order to turn it into a larger, much faster, cheaper and more accessible system for all its users in the long term.

Internet Computer: Open source collective computing platform

Internet Computer: Open source collective computing platform

And as usual, before going into technical details on the current topic of "Polygon", is worth the reminder of, our last related post of DeFi World, which dealt with him Open Source Development called "Internet Computer", which is about a project that was described as follows:

"The Internet Computer" is an open source project that seeks to extend the functionality of the current public Internet, so that it can host backend software, transforming it into a global computing platform. In such a way that developers can create websites, business computing systems, and Internet services, installing their code directly on the public Internet and dispensing with server computers and commercial cloud services. " Internet Computer: Open source collective computing platform

Internet Computer: Open source collective computing platform
Related article:
Internet Computer: Open source collective computing platform

Filecoin: Decentralized Open Source Storage System
Related article:
Filecoin: Decentralized Open Source Storage System
DeFi: Decentralized Finance, Open Source Financial Ecosystem
Related article:
DeFi: Decentralized Finance, Open Source Financial Ecosystem

Polygon: The Internet of Ethereum Blockchains

Polygon: The Internet of Ethereum Blockchains

What is Polygon?

According to Official website of its Developers, this Open Source DeFi Project It is described as:

“A protocol and development framework for building and connecting Ethereum-compatible blockchain networks. That also adds scalable solutions in Ethereum supporting a multi-chain Ethereum ecosystem. "

In addition, it is important to highlight for those less knowledgeable about the DeFi world, what "Polygon" before it was known as «Matic Network». Project that was born, with the aim of updating the architecture of Ethereum, and thus achieve improvements in terms of user interaction and usability, that is, reduce the complexity of the platform, while increasing the speed operations and transactions, and reduced rates elevated of the network.

Nowadays, "Polygon" o "Matic Network" It is an excellent DeFi platform which is based on huge, high-quality libraries, where you can create decentralized applications (Dapps), both for the web and for mobile devices. Many of which are from Open Source, and we'll explore later.

Features

Currently, the main characteristics of this DeFi platform are:

  • It is a open and powerful DeFi platform.
  • It has a higher level of scalability, which improves the speed of transactions, reduces the cost of operations, and increases security, which is in charge of the PoS consensus algorithm.
  • Offers a improving interoperability between sidechains, which allows greater use of the Ethereum network.
  • Its main component is the "Polygon SDK", an open source development framework It supports the creation of multiple types of applications, allowing developers to implement Ethereum-compatible chains, turning the network into a multi-chain system.

"Polygon SDK aims to turn Ethereum into a full-fledged multi-chain system, introducing structure into this organic ecosystem and providing a framework for multi-chain Ethereum to grow faster and faster."

Developed Open Source Applications

Many Open source Decentralized Applications (DApps) or not, existing or developed within, for or with "Polygon", can be met on the web awesome polygon, DApps Matic Network y Define Polygon. And between the Open source DApps highlighted we can mention the following 3:

  1. Aave: An open source, non-custodial liquidity protocol for earning interest on deposits and borrowing assets. Watch Web y GitHub.
  2. Autonio: A DAO (Decentralized Autonomous Organization or Decentralized Autonomous Organization) built around the development of accessible, easy-to-use and affordable business tools and services for the DeFi ecosystem. It also refers to a decentralized and open source cryptocurrency trading terminal. Watch Web y GitLab.
  3. Math wallet: A cross-platform wallet that supports more than 38 public chain ecosystems such as EOS, TRX, BTC, ETH, BinanceChain, Cosmos, IRISnet. Watch Web y GitHub.

Associated cryptocurrency

Finally, it is worth noting that this DeFi World Open Source Project is related to Criptomoneda called equally Polygon (Matic). Which is currently part of the Check these top 20 of main cryptocurrencies by market capitalization, standing next to other recognized ones, such as Litecoin (LTC) and Stellar (XLM).

"Polygon is an open source project built by a decentralized team of contributors from around the world."

For more information on this Open Source Development of the field DeFi called "Polygon" o "Matic Network" can be explored GitHub official website.

Generic image for article conclusions

Conclusion

We hope this "useful little post" about «Polygon», an interesting and useful Platform or DeFi Ecosystem, which among many applications open or not, incorporates a protocol and a development framework to build and connect blockchain networks compatible with Ethereum; is of great interest and utility, for the entire «Comunidad de Software Libre y Código Abierto» and of great contribution to the diffusion of the wonderful, gigantic and growing ecosystem of applications of «GNU/Linux».

For now, if you liked this publicación, Do not stop share it with others, on your favorite websites, channels, groups or communities of social networks or messaging systems, preferably free, open and / or more secure as TelegramSignalMastodon or another of Fediverse, preferably.

And remember to visit our home page at «FromLinux» to explore more news, as well as join our official channel of Telegram from DesdeLinuxWhile, for more information, you can visit any Online library and OpenLibra y jedit, to access and read digital books (PDFs) on this topic or others.

 


The content of the article adheres to our principles of editorial ethics. To report an error click here!.

Be the first to comment

Leave a Comment

Your email address will not be published. Required fields are marked with *

*

*

  1. Responsible for the data: Miguel Ángel Gatón
  2. Purpose of the data: Control SPAM, comment management.
  3. Legitimation: Your consent
  4. Communication of the data: The data will not be communicated to third parties except by legal obligation.
  5. Data storage: Database hosted by Occentus Networks (EU)
  6. Rights: At any time you can limit, recover and delete your information.