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Dialogue with the founder of Polygon: Three factors help us become a project with a market value of tens of billions

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Polygon co-founder Sandeep Nailwal shares his story of starting the project and transitioning to an Ethereum Layer 2 aggregator

Original title: " Interview with Co-Founder of Polygon: How is the Ethereum Layer 2 aggregator with a market value of tens of billions of dollars formed? "

Original Source: Overnight Porridge, Babbitt

In the past month, the circulation market value of Polygon (formerly MATIC) has increased from 3 billion US dollars to more than 13.3 billion US dollars at present. India's "horseshoe" has become the biggest dark horse in the recent encryption asset market, so what is behind this What happened?

In this regard, Polygon co-founder Sandeep Nailwal shared It is the story of founding the project and transforming into an Ethereum Layer 2 aggregator.

Ask questions : Hi Sandeep, thank you very much for coming and we look forward to asking you some questions.

Sandeep:Thank you, thank you very much, and we look forward to this conversation.

Ask questions : So before you talk about Polygon (formerly Matic), can you give a little intro, talk about what you've done before, I know you were CEO of Scope Weaver and then e-commerce with Welspun Group CTO.

Sandeep:Yes yes, of course. Let's start from the beginning. After finishing my engineering studies, I worked for two years as a software engineer in a computer science company. Then I did specialized technology management, and then I joined Deloitte Consulting, where I worked for less than a year. Then I joined Welspun Group, one of the largest textile groups in India. Then the company launched the e-commerce division, where I was the CTO, running all the technology stack and enterprise integration and so on.

But I started very early, even at the end of my studies In 2010, I had a small start-up where I helped some clients. I mean, one of our big clients is the ruling party of India, the BJP. So their Derry state division hired us to do an analysis of the Board of Elections data from previous years. After that, I also created a few small startups, so I always wanted to do something on my own.

Even those leadership roles, like at Welspun Group, give I am confident that I can do this. I also built Scope Weaver, which is basically a B2B services marketplace, you can think of it like Alibaba, but it focuses on service providers, not freelancers. But due to the nature of the project (very intensive), I realized that I needed to have at least 10 of them to be competent, and I couldn't hand them off to my subordinates.

So I realized it would be hard to scale and then I started thinking about Doing something in tech, at first I tried artificial intelligence (AI), and then there was so much math in it, I was like, well, I don't want to do this. And then I started looking, and around the end of 2015, or the beginning of 2016, Bitcoin had a rally and there was some noise around, and I thought, well, let me give it a shot. Then I started to read the blockchain bible, which is "Mastering Bitcoin" by Andreas Antanopolous. When I read the fourth chapter, I felt that this is not a currency, but like a great technology. The Internet can change the way we humans interact with each other. Like everyone else, this is how I fell down the rabbit hole. Since then, I've gotten deeper and deeper.

So I started to become a blockchain developer. Initially I was approached by some clients to build dapps and ICO solutions for them. Then, you know, when the CryptoKitties movement happens, you will find the scaling bottleneck of Ethereum, and you need to have more solutions to scale Ethereum. That's when I met my co-founder, who was also from the community.

Question: Yes, can you briefly outline Matic history? Then, why did you decide to rename it to Polygon, and the difference between the two, who are you, what are you trying to achieve?

Sandeep: Of course . So basically, when we started, Joseph Poon was the author of the Lightning Network, and they came up with a scaling solution called Plasma, which had a lot of hype in the industry, and it was touted as the next scaling solution for Ethereum, Talig Very closely involved in this project, as did my co-founder Jaynti Kanani. So when we started Matic, we realized we needed to go after adoption, not tech hype or something like that. So we realized that with this UTXO-based model, no one is going to use it. This will be a simple payment mechanism. No users will use it, nor will developers, because what they need is full-fledged smart contracts, not just payments.

So JD[Jaynti Kanani] came up with an idea that we should have An EVM-based Plasma solution. So Matic's journey started here. We strayed a bit from the original plasma implementation by saying it should be an EVM-based plasma implementation. Our final mainnet launch was in May 2020, and the network has gained incredible traction since then.

When I was leading the business team at Polygon, we worked with A lot of developers talked, I shouldn't say thousands, but probably at least a few hundred... We realized that there is no one solution for everyone, and then, these scaling solutions will eventually become commoditized. The community went from one hype to another, like it used to be state channels, then plasma, then optimistic rollup, then ZK-Rollup, and different schemes like Validium.

We realized that we wanted to build a long term sustainable solution . We don't want to build a network, it starts being used, and after a few months, no one cares about it, and then it dies.

Question: Can you briefly outline what a Polygon is , and explain what attracted you to try to create a protocol for building and connecting Ethereum-compatible blockchain networks?

Sandeep:Polygon Effectively transforming Ethereum into a full-fledged multi-chain system (aka Internet of Blockchains). This multi-chain system is similar to Polkadot, Cosmos, Avalanche, etc., but it has at least three main advantages:

• It can fully benefit from the network effect of Ethereum;

• It is inherently more secure;

• It is more open and powerful;

Question: Let's now discuss the features Polygon offers developers, including ETH compatibility, scalability, and security, among many other features that make Polygon unique. Can you go a little further and explain some of Polygon's features to our readers?

Sandeep: Polygon will support major Layer 2 solutions such as Optimistic Rollup, zkRollup, Validium, etc., making it a unique "Layer 2 Aggregator".

Ask questions : Now let's talk about Polygon-based projects. Some very exciting projects like Polymarket, Aavegotchi, and Decentral Games use the Polygon architecture. Can you talk a little bit about that and how you envision the future going forward.

Sandeep:Including Aave, Curve, Polymarket, Aavegotchi, OpenSea, NeonDistrict, Cometh and Quickswap More than 150 Dapps have chosen Polygon to scale their applications. You can find a complete list at awesomepolygon.com.

Question: One last question about Polygon, can you tell us, What is Polygon's long-term vision?

Sandeep : Polygon is open and powerful, primarily in terms of the types of architectures it can support. This is because (1) Polygon is built on top of Ethereum, so it can basically include any scaling or infrastructure solution in the Ethereum ecosystem; (2) we fully embrace the open innovation spirit of Ethereum, Design the Polygon with this as one of the main design goals.

Polygon’s mission will always be to scale Ethereum and bring blockchain and the power of Crypto to more users.

Ask questions : Who is the person you respect? What is this person that inspires you?

Sandeep:Vitalik Buterin. His breadth and depth of coverage on a variety of topics is inspiring. Some people have very deep knowledge of few subjects, some have very shallow knowledge of broad topics, and Vitalik has a deep knowledge of a variety of subjects, which makes him as fascinating as Elon Musk.

Ask questions : So far, what do you think are the three major factors for your success? Like, your work ethic?

Sandeep: Ability to get work done, respect for team members and others, and focus.

Ask questions : In addition to the blockchain field, are there other industries that you are particularly interested in, such as artificial intelligence?

Sandeep:I think we are still in the initial stage of the blockchain industry, which is like the development stage of the Internet in 2003-2004, so I want to put all my energy on it.

Ask questions : Thank you so much for taking the time to speak with us today.

Sandeep:Thank you very much for giving me this opportunity.