> For the complete documentation index, see [llms.txt](https://bmv.gitbook.io/mundi-token-whitepaper/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://bmv.gitbook.io/mundi-token-whitepaper/blockchain-platform/platform-selection.md).

# Platform selection

Initially called Matic Network, India-based Polygon was founded in October 2017 by Jaynti Kanani, Sandeep Nailwal and Anurag Arjun — [India’s first crypto billionaires](https://www.livemint.com/companies/people/meet-india-s-first-crypto-billionaires-11622112486971.html). The three initial co-founders developed Polygon to address the issues associated with Ethereum’s high gas fees and congested network.

[Polygon](https://polygon.technology/), formerly known as Matic Network, is a blockchain scalability platform and framework for connecting and building blockchain networks compatible with [Ethereum](https://ethereum.org/en/). The network also refers to itself as “Ethereum’s internet of blockchains” because one of Polygon’s main missions is aggregating scalable solutions to support a multichain Ethereum ecosystem.

![](https://3688761620-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2FJi5fiqHBmiQgf3W748Mg%2Fuploads%2Fgit-blob-e4d75eda11e38690280625b1ae146f13ae2c8f08%2Fimage%20\(16\).png?alt=media)

### <mark style="color:purple;">Why Polygon</mark>

Polygon’s scope extends beyond being just another digital asset. First, it is a layer-2 scaling solution for [Ethereum](https://forkast.news/what-is-ethereum-and-how-can-it-become-the-future-of-blockchain/), designed to improve the network’s transaction processing speed and reduce transaction costs, also known as gas fees.

Second, Polygon is a platform where developers can launch their own sovereign blockchains and decentralized applications, empowered by a set of advanced modules that enable the deployment of interconnected blockchain networks, with easily customizable functionality.

Blockchains launched on the Polygon network are based on its [proof-of-stake (PoS)](https://forkast.news/what-is-proof-of-stake/) sidechain, which leverages a network of validators off the blockchain and then finalizes the transactions on Ethereum’s main chain afterward. This can take significant strain off the main blockchain, which results in less network congestion, faster transaction speed and lower gas fees.

The Polygon network supports two types of chains: stand-alone chains, which are self-sovereign blockchains on the Matic PoS chain and compatible with Ethereum, and secured chains, which fortify their security using a network of professional validators.

By far, Polygon is the most widely adopted layer 2 solution for Ethereum. Unlike Ethereum, which is limited to 13–17 transactions per second (TPS), Polygon can execute up to 7,000 TPS, making it comparable to Visa.

Presently, Polygon offers nearly 900 decentralized applications (DApps), ranging from lending, borrowing, and blockchain gaming to NFT marketplaces and gambling. The more we use these DApps, the more valuable MATIC token becomes as Polygon's native cryptocurrency.

Two of [the most popular NFT marketplaces](https://www.makeuseof.com/nft-mint-free-best-marketplaces/), OpenSea and Rarible, have already extended their blockchain support to Polygon, which is great news for NFT traders.

Speculating on the future of such a unique layer-2 project as Polygon is challenging. One way of approaching this is by looking at the race for the best interoperability solution in the cryptocurrency space. The Polygon network’s biggest rivals are [Cosmos Network’s](https://forkast.news/what-is-cosmos-the-internet-of-blockchains/) [Stargate](https://stargate.cosmos.network/) and [Polkadot](https://forkast.news/what-is-polkadot-parachain-hottest-chain/).

Ethereum-native DeFi protocols are also starting to migrate to Polygon, due to lower gas fees and faster transactions. Daily transactions reportedly have increased by almost [400% on the Polygon network](https://financefeeds.com/polygon-matic-continues-to-outdo-ethereum-in-active-users-and-transactions/) in June.

This is why we believe that Polygon is the most fittable for BMV´s token operation.

\\