Polygon Crypto
| MATIC Crypto | USD 0.19 0.01 5.00% |
PerformanceVery Weak
| Risk Of DevaluationAbout Average
|
Moving together with Polygon Crypto Coin
Moving against Polygon Crypto Coin
Polygon Crypto Coin Highlights
| Thematic Idea | USD Crypto Fund (View all Themes) |
| Business Concentration | USD Crypto Fund, Technology, Cryptocurrency, Blockchain (View all Sectors) |
Polygon is one of many evolving digital currencies in which encryption is used to regulate the generation of units of currency and verify the transactions independently of a central authority. It is traded on 10 exchanges in multiple currencies. The Ethereum blockchain is home to thousands of smart contracts and decentralized applications. The flurry of activity on it has seen transaction fees make using the network economically unviable for some of its users, creating demand for scaling solutions, like Polygon.What is Polygon?Polygon (MATIC) is a Layer-2 scaling solution for Ethereum that provides users with faster transactions and lower costs as a parallel blockchain running alongside the main Ethereum network.To use the Polygon network, users have to “bridge their tokens from Ethereum to it. There are numerous decentralized applications built on top of Polygon, including several leading Ethereum-based protocols that have made their applications work on both networks.The Polygon network can be used through cryptocurrency wallets compatible with Web3 applications such as MetaMask or the Coinbase Wallet. These are wallets that can interact with smart contracts on the blockchain and can be found built-in to some web browsers such as Opera and Brave.What is the MATIC token?The MATIC token is Polygon’s native currency, used to pay for transaction fees on the network. The cryptocurrency is also Polygon’s governance token, which means MATIC token holders get to vote on change proposals to Polygon.As the network uses a Proof-of-Stake (PoS) consensus algorithm, MATIC can be staked to help secure the network in exchange for rewards in MATIC. The ticker MATIC comes from a previous stage of Polygon’s development, as at launch it was named the MATIC Network.Who Created Polygon?Polygon was first launched back in 2017 as the Matic Network by several Ethereum developers: Jaynti Kanani, Sandeep Nailwal, Anurag Arjun, and Mihailo Bjelic. The network went live in 2020 and quickly attracted some of the largest DeFi applications.The network raised the equivalent of $5.6 million in TH with the sale of 1.9 billion MATIC tokens back in April 2019.The Polygon network currency has several blue-chip DeFi applications launched on top of it, including decentralized exchange Uniswap, lending platform Aave, and decentralized lottery platform PoolTogether. | |
| Coin Type | Polygon |
| Industry | Blockchain-Specific Application |
| FINMA | Utility |
| FCA | Utility |
| Access | Permissionless |
| Collateralized Asset | No |
| Symbol | MATIC |
| Technology Adoption Rating | B+ |
| Market Performance Rating | C+ |
| Name | MATIC |
| Is Trading | true |
| Full Name | Polygon (MATIC) |
| Sponsored | false |
| Coin Name | Polygon |
Polygon's Exchanges and Markets
CoinJar Bitfinex Yobit Bitstamp Luno Coinbase Kraken Zaif Gemini BitsoComprehensive Overview of MATIC
Known initially as Matic Network, Polygon is a cryptocurrency for a technology platform that connects and scales blockchain networks. It connects Ethereum-based projects using the Ethereum blockchain. By using the Polygon platform, blockchain projects can improve their flexibility, scalability, and sovereignty while reaping the benefits of the Ethereum blockchain's security, interoperability, and structural benefits. MATIC is a cryptocurrency used on the Polygon network to pay fees, for staking, and for governance (stakeholders get to vote on changes to the Polygon network). MATIC can also be bought and sold on Coinbase and other exchanges. MATIC originated from Polygon's earlier development stage. Upon launch in October 2017, Matic Network quickly rebranded to Polygon in early 2021.
How does it work?
Polygon can be compared to a faster train that still goes the same path as the regular train but bypasses some stations. Ethereum's main blockchain represents the local train in this analogy. Polygon leverages various advanced technologies to make a quick parallel blockchain and links it to the main Ethereum blockchain. One way to earn on MATIC is by staking; Polygon employs a proof-of-stake consensus mechanism to create new MATIC and secures the program.
Why is Polygon suitable for Ethereum?
Rather than competition, Polygon is reliant on Ethereum and vice versa. The purpose of Polygon is to create an infrastructure that can hold up under the increased traffic of Ethereum, given the rapid increase in mass adoption. Polygon relies more on Ethereum than Ethereum relies on Polygon. This is expected since Polygon is built on Ethereum's blockchain. Using Polygon might greatly help with the speed issue but also devalue Ethereum. That would, in turn, make it more difficult for Ethereum to see significant growth and reduce user interaction in certain places. To be more precise. Polygon improves Ethereum, thus increasing the number of users of the Ethereum blockchain. Thus its value will rise despite the potential for total value locked (TVL) to be stolen from Ethereum.
Where can I buy MATIC?
Based on where you live, you can purchase, send, and receive MATIC if you sign up with Coinbase and other major crypto marketplaces. Since MATIC is an ERC-20 token issued on Ethereum, it can also be purchased using a variety of decentralized exchanges such as Uniswap and Sushiswap. You can also exchange assets between Ethereum and Polygon via the official Polygon Bridge.
Polygon's Advantage
Fast transaction processing: Through a consensus mechanism that completes the confirmation process in one block, Polygon maintains fast transaction processing speeds. Processing blocks in Polygon takes an average of 2.1 seconds.
Low transaction fees: With a typical transaction fee of around $0.01, Polygon keeps its fees for using the platform low.
Polygon's Disadvantage
Not an autonomous blockchain: Polygon is a layer two solution for Ethereum. If Ethereum experiences disruptions or ceases to exist, Polygon's value will likely decrease significantly.
Limited Use: MATIC is designed to pay transaction fees and govern and secure the Polygon platform. Since MATIC is not used for everyday purchases, it is not comparable to other digital currencies.
Polygon Risk Profiles
| Mean Deviation | 3.87 | |||
| Standard Deviation | 5.0 | |||
| Variance | 25.02 | |||
| Risk Adjusted Performance | (0.32) |
Polygon Technical Analysis
When it comes to investing in cryptocurrency, such as Polygon, the assumption holds that everything in the market that could affect the price of crypto is already reflected. Therefore, the price of Polygon, which is currently traded at 0.19, shows everything you need to know about Polygon market value. You don't have to consider the fundamental factors that affect a crypto asset, such as Polygon, to determine its price movements. However, the Polygon's price action will always exhibit trends, even in random market movements, regardless of the timeframe you use - so Polygon's future price movement is more likely to follow an established trend and the cryptocurrency technical analysis is one of the ways to project Polygon's future price trendTransformation |
Polygon Against Markets
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