In the world of blockchain and cryptocurrency, one Indian startup has managed to grab global attention—Polygon. This startup began with a simple goal: to make using the Ethereum blockchain faster and cheaper. Today, Polygon powers thousands of apps, supports global brands, and has become one of the most recognized blockchain projects worldwide.
The Beginning: From Matic Network to Polygon
Polygon’s story started in 2017 when Jaynti Kanani, Sandeep Nailwal, Anurag Arjun, and Mihailo Bjelic decided to solve Ethereum’s biggest problems. Ethereum, a leading blockchain, allows developers to build decentralized apps (dApps). But it often becomes slow and expensive when many people use it at the same time.
The founders created Matic Network, a technology that acts as a Layer‑2 solution for Ethereum. In simple words, it takes some of the heavy work off Ethereum’s main network, so users can send transactions faster and pay lower fees.
In 2021, Matic Network rebranded itself as Polygon. The new name showed its bigger mission—to create not just a single scaling solution but a full ecosystem of tools and chains that help Ethereum grow.
Big Funding and Rapid Growth
Investors quickly noticed Polygon’s potential. In 2022, Polygon raised $450 million from top investors like Sequoia India, SoftBank, and Tiger Global. Billionaire Mark Cuban also supported the project early on.
This money helped Polygon grow its network. Developers launched hundreds of decentralized apps on Polygon. Big companies started using Polygon for their blockchain experiments. Brands like Disney, Starbucks, Mastercard, and Nike built projects on it. Even police departments in India used Polygon for filing complaints on the blockchain, showing its real‑world use.
Polygon’s Token and Market Journey
Polygon’s success also showed in its cryptocurrency. Its original token, MATIC, reached an all‑time high price of $2.92 in May 2021. This gave the project a market value of nearly $20 billion.
But the crypto market is full of ups and downs. By 2025, Polygon’s market value dropped to about $2.5 billion, and its token price fell to around $0.24.
To prepare for the future, Polygon changed its token from MATIC to POL in late 2024. This change made the network easier to manage and set the stage for new upgrades.
Leadership Shift: Sandeep Nailwal Takes Charge
In 2025, Polygon entered a new phase. Sandeep Nailwal, one of the co‑founders, became the first CEO of the Polygon Foundation. Over time, other co‑founders stepped back from active roles, leaving Nailwal in charge.
He promised faster decision‑making and a sharper focus. He also aimed to rebuild confidence in Polygon after the market decline. Nailwal introduced plans for AggLayer, a technology that connects different blockchains and makes them work together smoothly. He also prepared the network for its most important upgrade yet—Heimdall 2.0, which can handle up to 100,000 transactions per second and confirm transactions in just five seconds.
Global Partnerships and Ecosystem Growth
Polygon did not stop at technology. It built strong partnerships around the world:
- Jio Platforms, India’s largest telecom company, joined hands with Polygon in 2025 to bring Web3 technology to 450 million users.
- Stripe, a global payments company, started using Polygon to process crypto payouts.
- Walmart and Franklin Templeton tested supply chain tracking and tokenized investments on Polygon.
- Polygon became a major hub for NFTs (digital collectibles), even surpassing Ethereum in weekly NFT sales with $24 million in transactions by mid‑2025.
These partnerships proved that Polygon is more than just a cryptocurrency project—it is a global blockchain infrastructure that companies trust.
Technology Upgrades and the Future of Polygon
Polygon continues to focus on speed and efficiency. Its upcoming upgrades aim to make it the fastest and most developer‑friendly blockchain connected to Ethereum.
The key initiatives include:
- AggLayer – A system that connects multiple blockchains so that they can share data and liquidity.
- Heimdall 2.0 – A new version of its consensus layer that confirms transactions faster and reduces waiting time.
- Gigagas Upgrade – A plan to increase transaction throughput to 100,000 TPS, making it ready for enterprise and gaming use cases.
If Polygon delivers these upgrades, it can support real‑time payments, massive gaming ecosystems, and large DeFi projects without slowing down.
Challenges Polygon Faces
Polygon’s journey also has challenges:
- Its token value dropped by over 80% from its peak, which worried investors.
- Competition from other networks like Solana, Arbitrum, and Optimism keeps growing.
- Some community members fear centralization, since Nailwal now controls most decisions.
- The project must deliver on its promises to keep developers and users loyal.
Despite these challenges, Polygon still holds a strong position because of its brand partnerships, developer base, and continuous innovation.
Why Polygon Still Matters in 2025
Polygon matters for three big reasons:
- It makes Ethereum scalable and affordable. Developers can build apps without worrying about high fees.
- It works with global brands. From Starbucks to Jio, Polygon has real‑world use cases that other blockchains can only dream of.
- It keeps innovating. By focusing on zero‑knowledge technology, faster transactions, and cross‑chain connections, Polygon stays ahead in blockchain infrastructure.
Sandeep Nailwal’s vision is clear: he wants Polygon to become the backbone of the decentralized internet. If the startup executes its roadmap and wins back investor confidence, it can regain its place among the top global crypto projects.
Key Highlights
| Topic | Details (Mid‑2025) |
|---|---|
| Founders | Jaynti Kanani, Sandeep Nailwal, Anurag Arjun, Mihailo Bjelic |
| CEO | Sandeep Nailwal |
| Token | POL (replaced MATIC) |
| Market Cap | ~$2.5 billion |
| Max Transactions/Second | Target 100,000 TPS |
| Major Partnership | Jio Platforms (450M users) |
| Weekly NFT Sales | ~$24 million (higher than Ethereum) |
| Key Innovation | AggLayer + Heimdall 2.0 |
The Road Ahead
Polygon’s journey reflects India’s rise in the global tech and crypto space. From a small startup called Matic Network to a global blockchain powerhouse, Polygon has shown that Indian innovation can compete worldwide.
The coming years will test the team’s ability to deliver technology, regain market value, and maintain trust. But if Polygon succeeds, it will remain a flagbearer for India in the Web3 revolution.
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