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Price statistics MATIC
How much is Polygon (price matic) now?
The current 2023.03.21 21:36 value of Polygon (matic) against USD is 1.15.
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Polygon price today is $1.15 with a daily trading volume of 530751940. We update our Polygon price to USD in real time. Polygon has changed to 1.40356% in the last 24 hours. The current CoinLiq rating is #10 with a market cap of $10428801107.
What is Polygon (Matic)
The Polygon network focuses on increasing the scalability of the Ethereum blockchain and reducing the cost of transactions. In addition to its own developments - Matic PoS Chain and Matic Plasma Chains - the Polygon project supports ZK-Rollups. There are also plans to implement Optimistic Rollups and Validium algorithms. As of June 2022, Polygon is running more than 7,000 decentralized applications in DeFi, meta universes, games, and NFT.Read more
The cryptocurrency platform Polygon was created in October 2017 by four co-founders: Jainti Kanani, Sandeep Nailwal, Anurag Arjun, and Mihailo Bjeli. The founders see Polygon as a solution to the problems of scaling and increasing the efficiency of blockchain networks.
The team at Polygon created the Plasma Chains scaling model and the Ethereum Matic PoS Chain sidechain, which is based on the Proof-of-Stake algorithm. Over time, this sidechain became a popular scaling option for various applications. In April 2019, the company conducted an IEO of the MATIC token, which raised $5.6 million. In February 2021, the developers of Matic Network decided to rebrand the project to Polygon, timed to coincide with the transition from a second-tier Ethereum blockchain solution to a multichain system similar to Polkadot.
What is the native MATIC token's role in the Polygon ecosystem? TheMATIC token is needed for commissions and settlements between users, used to pay rewards to validators, and is also used for the decentralized management of Polygon. The cryptocurrency is also expected to be redesigned (including a name change), which will integrate with all the products of the ecosystem.
What are the benefits of Polygon Chain?
Thus, Polygon provides a set of tools for different purposes that are all integrated and secure.
Polygon is a secure ecosystem of over 7,000 decentralized applications, meta-villages, games, and NFTs. The platform uses L2 solutions with ZK-Rollups technology, which enables developers to offer a broad range of solutions for different application scenarios. The security algorithms used for DeFi are based on Ethereum, making it a reliable base layer. For startups, it is most efficient to use a simple and inexpensive solution that is part of a pool of validators shared by several projects.
Polygon enables you to create efficient applications that focus on fast transactions. The platform makes it possible for these applications to interact with each other at different levels, and to move freely between them. The advantage of using a Polygon-based network is that it is EVM-compatible. The project is built on top of Ethereum, which gives it access to Ethereum's resources and community.
The Polygon team is focusing on product development and finding partners and integration solutions. Large decentralized projects such as Aave, Curve, and SushiSwap have been deployed on Polygon. In December 2021, the platform launched the decentralized exchange Uniswap. Polygon plans to use a centralized management model, keeping each team autonomous. In January 2022, the developers added a mechanism to burn a portion of transaction fees similar to Ethereum.
Active addresses on the Polygon Network exceed those of the Ethereum network as of October 2021. The network's transaction volume is 4 million transactions per day. The network has issued more than 50 digital assets, including the leading stabelcoins USDT, USDC and DAI. In May 2021 billionaire Mark Cuban invested in Polygon, but the amount of the investment was not disclosed. In February 2022, the platform raised $450 million from Sequoia Capital India and other investors.