Matic Network (MATIC), a flagship India-based blockchain team, has announced its rebranding. The new ecosystem, Polygon, will use all existing L2 solutions to develop a cross-project aggregator.
Introducing Polygon, a "Polkadot on Ethereum"
According to a press release shared with U.Today, Matic Network (MATIC) will continue its development progress as Polygon. This rebranding heralds a crucial shift in the technological and marketing strategy of the startup.
As Polygon, its team will be laser-focused on creating a multi-chain system to harness Ethereum's most advanced scaling solutions. Polygon promotes itself as a "Layer-Two aggregator" or "Polkadot on Ethereum."
To name a few, Polygon is planning to leverage the benefits of Optimistic Rollups, zkRollups and Validium, the most promising approaches to scale Ethereum 1.0.
To accomplish their ambitious goals, Polygon introduces top-tier Ethereum (ETH) developers, researchers and evangelists as its advisors. At press time, Ryan Sean Adams, Anthony Sassano, Hudson Jameson and John Lilic have already joined its advisory board.
All of Matic's products will remain active
Meanwhile, the Polygon team assures that all instruments developed by it under the name "Matic" will remain "fully functional." Ethereum-based implementations of Matic instruments, Matic PoS Chain and Matic Plasma Chains will continue to be developed.
Right now, the leaders of Polygon are actively seeking new talent to allow it to evolve into a leading blockchain hub. It will be primarily focused on delivering decentralized applications with real utility.
Introduced in 2017, Matic Network unveiled its mainnet in 2020. Backed by a solid investment background (Binance, Coinbase), it was among the most advanced projects build around the Plasma instrument for Ethereum (ETH) scaling.