Many already understand cryptocurrencies like Bitcoin, Ripple, Ethereum, etc. Recently there was Polygon which quickly rose in popularity and also partnered with multiple government-based blockchains.
Do you know about polygon matic? This is an Ethereum protocol that provides an interchain scalability solution to manage, create, and issue digital securities on blockchain networks.
It will bring the scalability and adaptability of alt chains with Ethereum’s liquidity, security, and interoperability. Want to know more about Polygon? Let’s read to the end about this.
What Is Polygon?
Polygon Matic, previously known as the MATIC network, is a scalability solution to reduce complexities and costs and improve transactions’ speeds on compatible blockchains.
Ethereum faces many challenges such as poor user experience, low transactions per second (TPS), and heavy fees. Polygon aims to create a blockchain scalability platform to eliminate some of these problems.
Starting from MATIC Network and rebranded to Polygon when they expanded the scope. Polygon is involved with other hot cryptocurrencies such as DApp (Decentralized Application), DAO’s (Decentralized Autonomous Organizations), DeFi (Decentralized Finance), and NFT’s (Non-Fungible Tokens).
Who Founded Polygon?
Polygon Matic or previously Matic network that was built in 2017, which was rebranded to Polygon in February 2021 and created by Jaynti Kanani, Mihailo Bjelic, Anurag Arjun, and Sandeep Nailwal.
In late 2017 Matic network became the mainnet after being introduced as a tested prior in October 2017. Matic is making progress with projects such as Decentraland (MANA) and Maker (MKR).
Matic network also started working with Coinbase and Binance, which made the Matic group develop administratively with sufficient financing carried from those platforms.
When Was Polygon Crypto Created?
Matic network or name before Polygon Matic was launched in late 2017 to make Ethereum scaling architecture. After several years of operation, Ethereum scaling architecture was accomplished with plasma sidechain and PoS chain scaling solution.
The official transition from Matic network to Polygon was announced in February 2021. The official transition from Matic network to Polygon was announced in February 2021.
Polygon is already included in the top 15 cryptocurrencies, and the founders have more ambitions to make Polygon into the top three crypto projects and compete with Ethereum and Bitcoin.
If you find news about polygon crypto news, it’s because of Mark Cuban’s substantial rise of Polygon’s investment, Google BigQuery announcement, which caused Polygon to grow hype until now.
Apart from Mark Cuban, who created hype after investing in Polygon Matic, many venture capitalists took parts such as ZBS Capital, Codex Venture Partners, AU21 Capital, and Coinbase Ventures as Corporate Venture Capital.
The investment from Mark Cuban was a big boost for Polygon, and Cuban said that he is an active user and wants to integrate Polygon into his NFT (Non-fungible Token) gallery because Polygon can do more TPS (transactions per second) than Ethereum.
Polygon prices rose by 10,000% in early 2021, and Crypto prices have experienced a huge jump since January. Polygon is the 15th biggest cryptocurrency with a market cap of over $11 billion.
Is Polygon Decentralized?
Polygon said it would create a DAO (decentralized autonomous organization) for the DeFi (decentralized finance) sector.
The aim is for the decentralized autonomous organization to attract 100 million users with the emailed announcement Thursday and invite the community to the ongoing DeFi development.
By forming a decentralized autonomous organization, Polygon Matic is taking the next logical step to help collaborate with blockchain-based systems. SushiSwap, Aave, and Curve projects already use Polygons after the DAO form.
Polygon acquired Hermez for their first blockchain network and token merger to demonstrate a proof-of-stake model for being a cross-chain protocol. This acquisition, combined with a decentralized autonomous organization formation, will facilitate further decentralization.
Is Polygon An ERC-20 Token?
Based on Polygon.technology, Matic is an ERC-20 token used to power Polygon to power a Multi-Chain Ethereum. This is the base asset of the Polygon ecosystem. The ERC-20 Polygon token is used for staking and transaction fees to secure the Polygon network.
After the rebrand, Polygon Matic got a great increase in usage and saw an incredible price.
ERC-20 tokens like Polygon are digital assets that already exist in almost every corner of the crypto ecosystem. Polygon also has a specific utility that can affect customers’ rewards and the project’s future to perform certain tasks.
What Tokens Can You Trade On Polygon?
If you know about Venly Wallet, or previously known as Arkane Wallet, you can buy Polygon Matic and trade to other tokens like GHST, PYR, FISH, EMON, WOLF, LINK, and QUICK on the polygon chain with ease.
For QuickSwap, you trade Matic with AAVE, BEL, CFI, CTSI, DINO, EMON, ETH, and many others. There are still many exchanges like ParaSwap, SimpleSwap, and many others that you can do by changing Polygon to other tokens with their respective matic crypto rating determined by the platform.
How Does Polygon Crypto Work?
Polygon Matic can launch blockchains by utilizing multiple modules, which can be combined to form the framework according to the chosen blockchain. Each blockchain can use two chain types, stand-alone or secured.
Stand-alone is a blockchain that is responsible for its own security. They should use their own validators to secure the network and validate transactions. The risk of this independence option is adjusted to the implementing validators.
Secured are blockchains that use a security service via Ethereum or via a shared pool from the Polygon network. In contrast to stand-alone, secured blockchains do not need to set their own validators.
There are four layers in Polygon’s architecture, which are described in the table below.
|Ethereum layer||All blockchains built on Polygon network can lean on the Ethereum network as well as security|
|Security layer||First and second layer is optional for developers that offers validators to validate transactions|
|Polygon networks layer||Allows interoperability where all blockchains created by the Polygon platform are already utilized at this layer|
|Execution layer||Decentralized applications with provides functionality that hosts on chain and off chain smart contracts.|
What Makes Polygon Crypto Unique?
Polygon Matic is unique in that it was built to combine the best of Ethereum with blockchains to solve the pain points such as slow speeds, high gas fees without compromising security.
Polygon has three major upsides: more secure, more open, and powerful and gets the full benefit of Ethereum’s network effects.
Polygon solves several problems by using security as a service in a modular or optional manner, exchanging arbitrary messages with blockchain networks, growing set of modules, and one-click development.
You need to look at the polygon crypto price today because the Polygon price has gone up a lot since January and has a high potential for even more.
Is Polygon Crypto A Good Investment?
Every cryptocurrency has potential, have opportunities, also have different risks. If you think Polygon has some reasonable things to invest in, then you also need to see where the Polygon will go.
If you think Polygon Matic can solve some of Ethereum’s network issues, then you can invest in Polygon over time because Ethereum itself is the second biggest cryptocurrency with developing smart contract capability.
Is Matic a good investment? Yes, of course. You need to always update Polygon’s upcoming projects and also matic price prediction on crypto news. If you have faith that Polygon can become a big network, then you yourself will also believe that Polygon can be a good investment.
What Is MATIC Token?
Matic tokens have two purposes, to be stacking and payment for transaction fees to secure the network. As pay fees, Matic tokens are used for various transactions on more than 400 Dapps that run on Polygon.
Polygon (Matic review) is selected for ensuring the security, delegators, and validators staking their Matic in the staking contracts to achieve consensus.
Polygon Matic tokens are also available on various centralized and decentralized exchanges that you know. Several decentralized exchanges such as Bancor, DFYN, Quickswap, SushiSwap, Uniswap. And also other exchanges like Coinbase, Binance, Huobi, Crypto.com, FTX, Digifinex, etc.
How Many Polygon Coins Are There?
There are a total of 4,952,830,774 Polygon coins of circulating supply from the max supply of 10,000,000,000. As of August 2021, Polygon Matic is the 19th largest cryptocurrency with a market cap of $624,690,227 USD.
Last 24 hours, Polygon has traded $279,845,363 USD with a growth of 5.19% from yesterday, trading at $0.12613 USD. You need to update Polygon’s price every day to make sure your investment is growing or not.
Where To Buy Polygon MATIC Crypto?
After knowing how much potential Polygon Matic has, of course, many people want to know where to buy Polygon crypto. You can buy Polygon crypto on Coinbase and Binance as major exchanges.
Some advanced cryptocurrency users get Polygon via decentralized exchanges such as Uniswap and Sushiswap using Wrapped Ethereum.
For some platform wallets, you need to create an account by registering with your phone number. After meeting some requirements, you can start making deposits and add crypto to your wallet. Once you have crypto in your wallet, you can exchange it for Polygon for a minimum of $100.
Is Polygon MATIC On Binance?
Polygon Matic includes a mainnet token and is complete in wallet integration with Binance. Binance can now open deposits and withdrawals for MATIC. Binance also supports ERC20, BEP2, and BEP20 of MATIC-associated tokens.
How to get Matic on Binance is quite easy. You just need to create an account, deposit cryptocurrencies using ETH or BTC. Check your balance before exchange to Matic to make sure your cryptocurrencies can be used.
You can place an order by entering the basic exchange menu, selecting your BTC or ETH, and searching for Matic. After the trading pair appears, you can place a buy order at the price you want.
Is Polygon MATIC On Coinbase?
Coinbase has also carried out wallet integration with Polygon, allowing cheaper and faster transactions and providing easy access to DApps (Decentralized Applications).
Coinbase has a simple way for users who want to start Polygon for their investment. Open Coinbase Wallet in the mobile app, and go to Settings. Select Active Networks, and select Polygon mainnet from the list. After that, Polygon is ready for you to use in the Coinbase Wallet extension and mobile app.
Can I Stake Polygon?
When discussing Polygon (Matic review), of course, many people ask if they can stake Polygon Matic? Yes, but you need to buy some MATIC tokens first and send them to your MetaMask wallet. After you send it, you can connect to the part of the Matic Web Wallet to do the stake.
You need to find a tutorial to stake on MATIC tokens, so you don’t go wrong to become a delegator. Staking against Polygon is an act of support for the Polygon network, and there is a chance to earn block rewards.
Polygon Crypto Staking Rewards
The stacking rewards from Polygon Matic depend on the network conditions and transaction fees that revolve around the network.
The allocation for staking rewards is up to 12% of the total supply so that 1.2 billion tokens becomes a stacking incentive for up to 5 years. You need to use the Matic staking calculation to estimate your earnings based on current or future network conditions.
How Do You Make Money With Polygon?
You need to see future Polygon projects, and you need to know Polygon is tied to Ethereum. If the Eth2 upgrade is complete and shows many positive things, the value of the Matic token will increase dramatically.
Indeed, investing in cryptocurrency has a high risk, but you also need to look at the opportunities. Mark Cuban, a crypto enthusiast, makes long-term investments and believes the Matic network will move forward in a positive direction.
We can also see an increase of up to 13,000%. Although it fell in May, it is still considered an increase of 5,000% compared to the beginning of 2021. Investing in Polygon Matic can be your way to earn more if you believe Polygon will advance in the future.
Why Is Polygon Going Up?
Three main things are causing Polygon Matic to grow up, from Mark Cuban’s investment, Google BigQuery announcement, and growing hype from Polygon that can reduce the pain of the Ethereum network related to other blockchains.
Starting from early 2021, if you look at the Matic crypto news until May 2021, it reached an increase of up to 13,000% starting at $0.02 and was at $2.68 before dropping to $0.90.
Polygon Price Prediction
If you look at several forecast systems, Polygon Matic is good for a long-term investment with a range of 1 year of investment. Because we have seen the rapid development of Polygon from 2021 to August, we can analyze the Matic Polygon price prediction from several forecast systems.
Prediction after one year, Polygon has earning potential up to 179.70% in one-year investment. If the current price is $1,387, then next year, it could reach $3,880. From these predictions, Polygon still cannot beat Bitcoin as the number one crypto, and there is no possibility of a crash in the next year.
Is Polygon Crypto Legit?
You can see Polygon price prediction Reddit and everything related to Polygon Matic. If Mark Cuban, the billionaire, and crypto enthusiast, has invested in the Polygon network, then it is clear that Polygon is legit.
This is because it has entered the crypto news, and its value has increased by up to 5,000% compared to the beginning of this year.
Is Polygon Good For Ethereum?
Polygon is good for Ethereum because it’s a popular blockchain scalability platform for establishing and linking many blockchains to be the most efficient technology.
Since the advent of Polygon, it has always been a topic related to continuous developments, enhancements, and improvements in its working mechanism.
Polygon Matic has also convinced many investors of their robust scalability solution so that more and more people are investing in Matic tokens.
Can Matic reach $100? We cannot know for sure for the next five years. But with some projects from Polygon in the future, and if it helps more users, more and more customers will want to invest in them too.
Polygon Crypto Competitors
Polygon is among the top 20 of the biggest cryptocurrencies. If we want to find competitors, we just need to see what rank Polygon is in and above it.
Although Polygon was in the top 15, it has decreased starting from May 2021 and stays on the 19th rank based on Coinmarketcap. If you continue to pay attention to the Matic crypto price prediction, there is a possibility that Matic can still climb to rank 18 or 17 shortly.
Polygon Crypto Social Media Handles
Polygon is still active on social media Twitter with daily updates at @0xPolygon. You can get the latest info on the community, live-kick-off sessions, and any updates.
Besides that, you can also read about Polygon in every crypto news because Polygon is also a major cryptocurrency that is included in the top 20 cryptocurrency prices.
Final Verdict – Polygon Matic Crypto Review
Polygon, formerly known as Matic network, was founded by Indian developers Jaynti Kanani, Mihailo Bjelic, Anurag Arjun, and Sandeep Nailwal, which has become a mainnet token in 2017.
Rebranded as Polygon in 2021 and become hype for many people after Mark Cuban invested in the Polygon network and several other things that made Polygon into the top 15 cryptocurrencies in a short time.
Polygon offers a very interesting scalability solution for Ethereum against other blockchains to reduce transaction costs, speed up speed, and be more efficient.
Predictions for the development of Polygon will be positive for the next few years, where there are still many projects that will continue to update Polygon.
I am a data analyst by profession who loves to crunch numbers at daytime and come home wondering how my passive income numbers for the day look like. I believe in being rich rather than looking rich. Follow me for Cryptocurrency, FIRE, Personal Finance, Credit Cards and Digital Nomad updates