Polygon Network, formerly known as Matic Network, is a layer 2 scaling solution for Ethereum. It aims to address the scalability and high transaction fees of the Ethereum network by providing a framework for building and connecting multiple blockchains.

Polygon achieves scalability by employing a combination of technologies, including sidechains, Plasma chains, and state channels. It allows developers to create their own customized blockchains, referred to as "Polygon chains," which can be interconnected with Ethereum. These chains benefit from the security and decentralization of the Ethereum mainnet while enjoying higher throughput and lower transaction fees.

By using Polygon, developers can leverage existing Ethereum tooling, infrastructure, and user base to build decentralized applications (dApps) that offer a better user experience. Polygon also provides various developer tools, such as the Polygon SDK and the Polygon PoS (Proof of Stake) chain, which enable developers to create and deploy their dApps more efficiently.

The native cryptocurrency of the Polygon Network is called MATIC. It is used for transaction fees, staking, and participating in the network's governance.

Polygon has gained significant popularity in the blockchain space due to its ability to scale Ethereum and improve the user experience for decentralized applications. Its ecosystem has seen widespread adoption, with numerous projects, including decentralized finance (DeFi) platforms, gaming applications, and NFT marketplaces, building on top of Polygon to benefit from its scalability and cost-effectiveness.

Please note that my knowledge is based on information available up until September 2021, and there may have been updates or developments in the Polygon Network since then.