Matic is an altcoin by the Polygon Network. Polygon provides a scalable, sustainable, and interoperable infrastructure for connecting together various Ethereum-based solutions.
Owing to the huge volume of transactions, Ethereum started to face a heavy network load. Consequently, it hampered user experiences and increased transaction fees and computation time. Therefore, MATIC (now Polygon) initiated an easy-to-navigate multi-chain Ethereum ecosystem.
Currently ranked in the top 15 Cryptocurrencies by Market Capitalization, Polygon has set records by crossing prevailing throughput of 14 transactions per second on the Ethereum platform. It has enhanced Ethereum’s capability to the extent of delivering 1000 times more transactions with minimum transaction fees.
Backed by Mark Cuban, Polygon participates in government-led blockchain projects and supports over 800,000 unique users, 76Mn transactions & 400+ apps, including Aave & EasyFi.
Polygon is a part of some of the most awaited emerging technologies in the crypto-world, including:
Some of the platforms accepting Polygon Wallets are:
Recently, Binance also announced its integration with Polygon Wallet.
Voting On Polygon: Token Holders can vote for a consensus on various governance & security matters on Polygon Network.
Increasing Transactions per Second with a surge in Number of Users on the network. Processes Record high of 65000 TPS.
ETH averages $3.65 per transaction, whereas Polygon costs $0.001 to transfer $200. It is further promoted by DeFi Boom.
Polygon has partnered with key players in the Crypto & Tech industry, including Binance, Google, OKEx, Curve, UniLend, ETH.
Empirically, it is observed that Matic Crypto has a negative coefficient with Bitcoin. So if BTC prices increase, Matic prices decrease & vice versa. This helps investors resist Bearish markets.
Backed by Mark Cuban & Binance.
Polkadot & Chainlink offer similar solutions.
Ethereum 2.0, planned to launch by 2022, may hinder Matic Sidechains.
Polygon Framework consists of 2 Optional Layers:
And 2 Mandatory Layers:
You can buy Polygon coins on a cryptocurrency exchange platform, like CoinSwitch.
6.04Bn Matic coins in circulation, out of 10Bn Total Supply.
You can invest in Polygon using CoinSwitch.
CoinSwitch, India’s largest crypto exchange, is a safe and reputed investment platform. In keeping with its mission to “Make Money Equal for All,” the company prioritizes quality in its product and the safety of all stakeholders.
Cryptocurrencies have emerged as an attractive investment option in recent years, capturing the imagination of investors despite their high volatility.
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Disclaimer : Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered as investment/financial advice from CoinSwitch. Any action taken upon the information shall be at user's own risk.
Polygon provides a scalable, sustainable, and interoperable infrastructure for connecting together various Ethereum-based solutions.
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