Types of Cryptocurrency

Polygon (MATIC): Why Should You Consider to Invest?

Polygon (MATIC)

With the rise in the popularity of cryptocurrency, many people are looking for ways to invest in this new asset class. One option is to invest in Polygon (MATIC), a cryptocurrency gaining traction in recent months. In this article, we will explore what Polygon (MATIC) is, how it works, and the benefits and risks of investing in it.

What is Polygon (MATIC)?

The Polygon was originally referred to as MaticNetwork. Polygone (MATIC) is an Ethereum cryptocurrency component of the Polygon Network based on Ethereum. Polygon aims to make transactions faster and easier by integrating layer two blockchains with Ethereum.

The Ethereum token can be deposited to Polygon Smart contracts and interact with them within Polygon. The token will then return to Ethereum’s primary blockchain system. It was used for payment of transaction fees and participation in Proof of Stake Advisory processes.

Polygon (MATIC) is a cryptocurrency that enables fast and cheap transactions on the Ethereum network. It does this using a technology called Plasma, which allows for creating sidechains attached to the main Ethereum blockchain. This results in near-instant transaction times, lower fees, and increased scalability.

It has a strong team of developers and advisers and is backed by major firms such as Binance and Coinbase.

Polygon Design

The network uses child chains built on top of the Ethereum blockchain. This design provides high scalability as each child chain can process its transactions independently. This allows the network to process a large number of transactions without congestion.

The core component of the Polygon network is the Polygon SDK. This software development kit allows for the easy creation of child chains that are compatible with the Ethereum network. The SDK also provides a wide range of tools and features that make it easy to develop and deploy decentralized applications on the Polygon network.

DeFi on Polygon

One of the most popular applications for Polygon is decentralized finance (DeFi). The network’s high scalability and low transaction fees make it an ideal platform for DeFi applications.

There are currently over 30 DeFi applications built on Polygon, with a total value of over $1 billion. These applications include decentralized exchanges, synthetic assets, and lending platforms.

Polygon is also the home of the popular decentralized exchange (DEX) aggregator 1inch.exchange. This platform allows users to easily compare prices and trade a wide range of assets across different DEXes.

The Decentralised Ethereum Scaling Platform

Polygon’s vision is to power the next era of the internet by providing a frictionless experience to users and dApp developers.

Polygon’s primary aim is to solve Ethereum’s scalability problem and make it easier for dApp developers to build on Ethereum. The network does this by using a technology called Plasma, which allows for the creation of sidechains attached to the main Ethereum blockchain.

These include a cross-chain bridge that will allow for the transfer of assets between different blockchains and a Layer 2 rollup solution that will further increase the scalability of the polygon are also working on several other solutions to improve the Ethereum network.

The MATIC Network Rebranded 

The MATIC Network rebranded to Polygon in March 2021. The decision to rebrand was made to reflect the network’s vision and position itself as the leading platform for Ethereum scaling.

The previously MATIC network was launched in 2019 and was one of the first Ethereum scaling solutions to launch on the mainnet. The network has since grown significantly and now has over 50 projects built on it.

Validators

The block producers on the MATIC network are called validators. These validators are responsible for processing transactions and maintaining the integrity of the network. In return, they receive a reward for their services in MATIC tokens.

Validators on the Polygon network can stake their tokens to earn a yield in ETH. The current yield is around 10% per annum.

Matic Tokens

The native token of the Polygon network is called Matic. The token is used to pay fees on the network and is also required for staking. Matic tokens can be bought and sold on cryptocurrency exchanges, including Binance and Coinbase.

The Polygon team has also created several other products that aim to make it easier for users to interact with the network. These include a web wallet, a mobile wallet, and a chrome extension wallet.

The flexible network design of Polygon (MATIC) is well-suited for a wide range of applications. These include games, DeFi platforms, and other decentralized applications.

How many polygon (MATIC) tokens are there in circulation?

MATIC token release occurs monthly. MATIC currently holds 5,000,000,000 MATIC tokens in circulation and the maximum number is 10,000,000,000 MATIC tokens. 3.8 per 100 shares of MATICs max stock were released at the company’s first private sale.

In February 2019, a 19 percent share of all sales was made available for launch. The price of the tokens remained the same – $0.00263. The amount raised was approximately $5 million. The remaining MATIC token is distributed the same.

The Polygon Team

The Polygon team is led by three co-founders, Sandeep Nailwal, Anurag Arjun, and Mihailo Bjelic.

Sandeep Nailwal is Polygon’s CEO and has an electrical engineering background. He has worked on Ethereum projects such as Mist and MetaMask.

Anurag Arjun is Polygon’s CTO and has a computer science background. He has worked on Ethereum projects such as MetaMask and Gnosis Safe. Mihailo Bjelic is Polygon’s COO and has a business administration background. He has worked on Ethereum projects such as Gnosis Safe and MetaMask.

The Polygon team also has several advisors, including Vitalik Buterin, the founder of Ethereum, and Joe Lubin, the co-founder of Ethereum and ConsenSys.

Vitalik Buterin is an advisor to Polygon and is the founder of Ethereum. He is a well-known figure in the cryptocurrency space, and his involvement with Polygon adds a great deal of credibility to the project.

Joe Lubin is an advisor to Polygon, the co-founder of Ethereum, and the founder of ConsenSys. He is a well-known figure in the cryptocurrency space, and his involvement with Polygon adds a great deal of credibility to the project.

The Polygon team is based in India and the United States.

Features of Polygon (MATIC)

Some of the key features of Polygon (MATIC) include:

  • Fast transaction times: Polygon (MATIC) transactions are near-instant, thanks to the use of Plasma technology.
  • Low fees: Polygon (MATIC) transactions are very cheap, as they do not need to be verified by the main Ethereum network.
  • Scalability: The use of child chains enables Polygon (MATIC) to process a large number of transactions quickly and efficiently.
  • Security: Polygon (MATIC) is built on top of the Ethereum network, one of the world’s most secure and well-established blockchain networks.
  •  Backed by major firms: Polygon (MATIC) is backed by major firms such as Binance and Coinbase. This gives it a high degree of legitimacy and trust.
  • Easy to use: The Polygon network is easy to use, thanks to the wide range of available products and tools.
How does Polygon (MATIC) work?

The Polygon network is based on the Ethereum blockchain and uses a technology called Plasma to create sidechains. Plasma is a framework for creating scalable decentralized applications. It does this by allowing for the creation of child chains that are attached to the main Ethereum blockchain.

Polygon (MATIC) uses a Proof-of-Stake (PoS) consensus algorithm, meaning users can earn rewards for staking their tokens. The more tokens you stake, the higher the rewards. Users can also earn rewards by participating in governance decisions and developing apps on the network.

Polygon (MATIC) also has a built-in decentralized exchange called MATIC DEX. This allows users to trade tokens without going through a centralized exchange.

The Polygon network is constantly being developed and improved. The team behind Polygon is constantly working on new features and upgrades. This makes Polygon (MATIC) a promising project with much potential.

Polygon (MATIC) Price

The price of Polygon (MATIC) has been on a strong upward trend in recent months as the cryptocurrency market has begun to recover from the Covid-19 pandemic.

Polygon prices are $0.58. Polygon has a value of $5745.50,099 877.22. So far in 2015, Polygon’s performance changed -by 70.95%.

Polygon is classified as an application token by CoinDesks DACS Standard. Polygon (Math) is a native cryptocurrency that powers PolygonNetwork, a layer2 platform launched in 2017.

The current market cap of Polygon (MATIC) is $9.3 billion, making it one of the most valuable cryptocurrencies in the world. The highest price ever reached by Polygon (MATIC) was $1.29, attained in February 2021.

Polygon (MATIC) Price History 

Since its launch in 2017, the Polygon (MATIC) price has steadily increased. In January 2021, the price reached an all-time high of $0.72. Since then, the price has fluctuated between $0.30 and $0.60.

When considering investing in any cryptocurrency, it is important to look at the market history and performance. Polygon (MATIC) has shown strong growth since its launch and is currently one of the most popular cryptos in the world.

What is the Difference Between Polygon (MATIC) and Ethereum?

Polygon (MATIC) is a layer 2 scaling solution for Ethereum. It uses a technology called Plasma to create sidechains, allowing faster and cheaper transactions. Polygon (MATIC) also has its decentralized exchange, called MATIC DEX.

Ethereum is a decentralized platform that runs smart contracts. It is the most popular platform for launching Initial Coin Offerings (ICOs). Ethereum is also working on its scaling solution, called Ethereum 2.0.

The Benefits of investing in Polygon (MATIC)

Polygon (MATIC) has several advantages that make it an attractive investment option.

  • Most popular cryptocurrency in the world and is currently ranked in the top 20 by market capitalization.
  • A strong team of developers and advisers.
  • Aims to solve the Ethereum network’s scalability problem.
  • Uses a Proof-of-Stake (PoS) consensus algorithm, which means that users can earn rewards for staking their tokens.
  • It also has a built-in decentralized exchange called MATIC DEX.
  •  It is backed by major firms such as Binance and Coinbase.
The Risks of Investing in Polygon (MATIC)

As with any investment, there are always risks involved. These include:

  • Volatile: The cryptocurrency market is highly volatile, and Polygon (MATIC) prices could drop sharply in the event of a market crash.
  • Development: The Polygon network is still in its early stages, and there is no guarantee that it will be successful.
  • Replacement: A better cryptocurrency could replace Polygon (MATIC) in the future.
  • Hacking:  There is always the risk of hacking and theft in cryptocurrency.
  • Regulatory risks: Governments could crack down on cryptocurrencies, which could negatively impact Polygon (MATIC) prices.
  • The price of gas: The price of gas is a major factor in the Ethereum network’s scalability problem. If gas prices go up, it will be more expensive to use the Polygon network.
Polygon (MATIC) Roadmap

The Polygon team has released a roadmap for the project. The roadmap includes plans for the development of the network over the next two years.

Some of the key milestones on the roadmap include: 

  • The launch of Polygon mainnet in Q3 2021
  • The launch of staking on Polygon mainnet in Q4 2021
  • The launch of Polygon Bridge in Q1 2022
  • The launch of smart contracts on Polygon mainnet in Q2 2022
Polygon (MATIC): Why should you invest?

If you’re looking for a cryptocurrency that offers fast transaction times, low fees, and increased scalability, then Polygon (MATIC) may be a good option. The cryptocurrency is also backed by major firms, which gives it a high degree of trust and legitimacy.

However, as with any investment, there are risks involved. Before investing in Polygon (MATIC), do your research and speak to a financial adviser to get the most accurate and up-to-date information.

Polygon (MATIC): The Future

The Polygon team is working on several upgrades and new features for the network. These include improved support for smart contracts, increased security, and improved developer tools.

The team is also working on several partnerships with major companies in the cryptocurrency space. These partnerships will help to increase the adoption of Polygon (MATIC) and drive further growth.

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