Welcome to 60-second Crypto Gem by KuCoin. Today, we will be talking about the Polygon and its native token, MATIC. Polygon, previously known as Matic Network, is a Layer 2 scaling solution backed by Binance and Coinbase. It combines the best of Ethereum and sovereign blockchain into a full-fledged multi-chain system. The Polygon team was a huge contributor in the Ethereum ecosystem. The project seeks to stimulate mass adoption of cryptocurrencies by focusing on reducing the complexity of scalability and instant blockchain transactions. Polygon can boast of up to 65,000 transactions per second on a single side chain along with a respectable block confirmation time of less than two seconds. MATIC is Polygon’s native token that is used for payment services on Polygon and as a settlement currency, as well as transaction fees. This has been the 60-second Crypto Gem by KuCoin, see you next time.