Indian Blockchain project Polygon crosses $13 Billion in market capitalisation
Polygon is a layer 2 scaling project created by Jaynti Kanani, Sandeep Nailwal, Anurag Arjun and Mihailo Bjelic
It was created to function as an alternative to Ethereum’s blockchain
Congestions on top crypto blockchains like Ethereum and Bitcoin raised the demand for alternatives like Polygon
Congestions happen when many people simultaneously try to transfer crypto
Polygon’s sidechain functions like a middleman for transactions on Ethereum
Polygon’s crypto token MATIC saw a 24% price rise on 18th May
