What is Polygon or Matic Token ? What is Polygon (MATIC) to you today? Polygon (MATIC) Token Information.
»You must have known the two largest cryptocurrencies in the world. But today in this article we will tell you about this cryptocurrency, knowing about which you will be very proud that this cryptocurrency has been created by Indian founders (founders).
What is Polygon (MATIC) to you today?
»Will tell this in detail. So the name of this cryptocurrency is MATIC and it is also called Polygon. The names of the founders of this cryptocurrency are Jayanti Kanani, Sandeep Nelwal and Anurag Arjun. All three of them are also software engineers.
(FOUNDER OF POLYGON)
»Polygon (MATIC) comes in the first 20 cryptocurrencies in the world's cryptocurrency market. So let's know in detail what is Polygon (MATIC)?
What is Polygon (MATIC)?
»Polygon formerly known as MATIC is an Indian blockchain scalability platform. Which is called 'Internet of Blockchain of Ethereum'. Polygon (MATIC) serves to provide a layer two solution for the ETH network.
»It answers some of the challenges facing Ethereum today such as heavy fees, poor user experience and low transactions per second and aims to create a multi-chain ecosystem of Ethereum compatible blockchains.
»Earlier this project started with the name MATIC, but when the scope of this project increased a bit, that means blockchain ethereum developers around the world started liking this project, then MATIC network was rebranded and the name of this project from MATIC. Polygon has been done.
»The objective of this project is to create a separate blockchain that allows information and value to be exchanged independently. Polygon Cryptocurrency is involved in many other areas, such as DeFi (Decentralized Finance), DApp (Decentralized Application), DAO (Decentralized) etc.
DeFiD-app
How does Polygon (MATIC) work?
»Polygon's MATIC sidechain works like any other proof-of-stake based blockchain. Its structure, tokens, client nodes, local dapps, validator nodes, etc. are similar to other networks. And the good thing is that polygon has created a layer 2 network to build the Ethereum viable blockchain network.
»Layer-2 scaling solutions indicate off-chain solutions. This includes reducing or eliminating components with valuation power from the prime blockchain before execution elsewhere, for example, on the sidechain. This creates message flow on the mainchain and spreads evaluation efficiency across the network.
»Layer-2 solutions are becoming very popular among developers as they play an essential role for large scale transactions of cryptographic funds.
»Polygon's modular system for assembling custom networks allows developers to send preset blockchain networks with just a snap. Further more, Polygon makes it easy for any blockchain to work seamlessly with any other blockchain.
What is Polygon (MATIC) token?
»The Polygon (MATIC) token is the base resource of the Polygon system. It is not only used for cryptocurrency trading and investing, but it is also used for storing tokens to protect the Polygon network.
»The Polygon (MATIC) token achieved great heights in the cryptocurrency market after its rebranding. The MATIC token has a covered reserve of 10 billion tokens, which is valued at around 7 billion today. The MATIC token is available on the most popular decentralized as well as centralized-based trading.
Advantages and Disadvantages of Polygon (MATIC) :-
Benefits :-
»Polygon (MATIC) provides a Layer 2 scaling solution for Ethereum which allows for very fast transactions.
»Due to Polygon (MATIC), the transaction fee is also very less.
»Polygon (MATIC) can prove to be very suitable for decentralized applications.
Harm :-
»Polygon (MATIC) has a high market cap / total value locked ratio (this could result in overvalued assets)
»After the arrival of the Polygon (MATIC) project, competition is arising from other scaling projects
»Is it a good idea to invest or buy Polygon (MATIC)?
»The Ethereum network has improved a lot since the arrival of the Polygon (MATIC) project. And Polygon (MATIC) keeps on partnering with many big companies. Billionaire Mark Cuban, the star of the TV show Shark Tank, has also invested in this project.
»And not only this, Polygon (MATIC) has also been supported by angel investor Balaji Srinivasan, when so many reputed people and big companies are joining this project, then you yourself think that there must be something special in it.
»And not only that, Polygon's co-founder (founder) Sandeep Nelwal established India's COVID Crypto Relief Fund, in which Vitalik Buterin, the creator of Ethereum, contributed more than 1 billion worth of Shiba Inu coins to Bharata Had given. Today Polygon (MATIC) comes in the first 20 cryptocurrencies in the world's cryptocurrency market.
》If you want to invest in Polygon (MATIC), then you can buy it on Wazirx. Wazirx is one of the best crypto trading platform in Bharat.》Website : https://wazirx.com/
》According to us, Polygon (MATIC) can prove to be a good crypto investment.
Polygon (MATIC) Token Information :-
》Name : Polygon
》Price : in US dollars : 2.66
Note: (Before making any kind of investment, do research thoroughly)
Tell us by commenting what is Polygon (MATIC)? How did you like this article and if you have some questions related to Polygon (MATIC), then you can also ask us by commenting, we will try our best to answer your questions correctly.
Stay connected with us to know more about Cryptocurrency and Blockchain.