Polygon Crypto
| MATIC Crypto | USD 0.57 0.01 1.72% |
Performance9 of 100
| Risk Of DevaluationOver 56
|
Moving together with 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 12 exchanges in multiple currencies. Polygon (MATIC) is a scaling solution for the Ethereum blockchain that aims to provide faster and cheaper transactions. It is a parallel blockchain that users can "bridge" their tokens to and interact with through compatible wallets such as MetaMask or Coinbase Wallet. The network is secured by a Proof-of-Stake consensus algorithm and its native currency, MATIC, is used to pay for transaction fees and can be staked to earn rewards. Polygon was launched in 2020 by Ethereum developers and has attracted several leading DeFi applications to its network, including Uniswap, Aave, and PoolTogether. | |
| Coin Type | Polygon |
| Other Smart Contract Address | View |
| 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 |
| Sponsored | false |
| Block Reward | 0.4 |
| Built On | POL |
| Asset Whitepaper Url | View |
| Decimal Points | 18.0 |
| Is Trading | true |
| Asset Launch Date | 2020-05-30 |
| Full Name | Polygon (MATIC) |
| Asset Website Url | https://polygon.technology/ |
| Block Number | 18.34 Million |
| Platform Type | token |
| Coin Name | Polygon |
| Total Coins Mined | 9.97 Billion |
| Smart Contract Address | View |
Polygon's Exchanges and Markets
CoinJar Bitfinex Yobit Bitstamp Luno Unocoin Coinbase Kraken Lykke 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 | 3.31 | |||
| Semi Deviation | 3.38 | |||
| Standard Deviation | 4.98 | |||
| Variance | 24.81 |
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 0.57, 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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