Polygon Network, formerly known as Matic Network, is a popular Ethereum scaling solution and a Layer 2 blockchain platform. It aims to address the scalability and usability issues of the Ethereum network by providing a framework for building and connecting decentralized applications (dApps).

Polygon Network utilizes a combination of technologies, including sidechains, Plasma frameworks, and its own Proof-of-Stake (PoS) consensus mechanism, to enable faster and cheaper transactions while maintaining a high level of security. By using sidechains, Polygon allows dApps to run their operations off the main Ethereum chain, reducing congestion and increasing scalability.

Polygon supports the Ethereum Virtual Machine (EVM), making it compatible with existing Ethereum dApps and smart contracts. Developers can easily port their projects to Polygon by making minimal changes to the codebase. This interoperability with Ethereum has contributed to the network's popularity and adoption.

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

Polygon has gained significant traction in the decentralized finance (DeFi) space, attracting numerous projects and users seeking faster and cheaper transactions compared to the Ethereum mainnet. It has also seen adoption in gaming, non-fungible tokens (NFTs), and various other sectors.

The Polygon ecosystem consists of several components, including Polygon PoS Chain (formerly Matic PoS Chain), which serves as the main network for dApps, and Polygon SDK, which allows developers to build their own blockchains and customize their scalability solutions.

Overall, Polygon Network aims to provide a scalable infrastructure for Ethereum-based applications, offering a solution to the network's scalability challenges and driving the mass adoption of decentralized applications.