Polygon is a layer-2 scaling solution with side-chains for off-chain computation, while ensuring asset security using the Plasma framework and a decentralized network of Proof-of-Stake (PoS) validators. It aims to offer scalable and instant blockchain transactions.

By utilizing adapted version of the Plasma framework, the system is built on PoS checkpoints that are pushed to the Ethereum main-chain. As a result, it is expected to allow each Polygon sidechain to theoretically achieve 2^16 transactions per block.

Polygon has been a significant contributor to the Ethereum ecosystem, having worked on implementations of Plasma MVP (Minimum Viable Plasma), the WalletConnect protocol, and Dagger, a popular Ethereum event notification engine. Many projects have already been building applications on and integrating with Polygon.

Polygon is an ERC-20 token running on Ethereum, it used to pay for services on Polygon but also serves as a settlement currency between users who operate within the Polygon ecosystem.