Polygon

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.Telegram | Discord | Facebook | Instagram | YouTube | LinkedIn | KakaoTalk | GitHub | Reddit | MediumWhitepaper

The current price of Polygon is 0.2347 USD — it has increased by 0.86% in the past 24 hours. Watch Polygon price performance more closely on the advanced chart.

As of today, Polygon has the market capitalization of 396.73M USD. Explore our list of cryptocurrencies ranked by market cap to compare Polygon with others.

Polygon trading volume in 24 hours is 2.48M USD. See how often other coins are traded in this list.

Polygon has increased by 0.86% in the last 24 hours, has increased by 10.55% in past week, has increased by 19.62% in the past month, and has decreased by -56.82% in the past year. See more data on the Polygon chart.

Polygon has a maximum supply of - coins. Once this limit is reached, no additional coins will ever be created.

The current circulating supply of Polygon is - coins.

Polygon uses the N/A cryptographic algorithm to secure its blockchain and validate transactions.

Polygon uses N/A to validate transactions and maintain the security of the blockchain.

The easiest way to buy Polygon is through an online crypto exchange. Some of the popular names are Binance, Coinbase, Bybit. Simply open an account, follow the procedures, and start trading. Alternatively, you can practice trading Polygon stock on Profit.com in Playtrade Tournaments or choose a recommended broker to trade directly.

Investing in cryptocurrencies requires thorough research. Before investing in Polygon, consider subscribing to Profit PRO where can practice trading in Playtrade Tournaments, access AI-powered daily market insights, and follow Billionaire Portfolios.

Investing in cryptocurrencies requires thorough research. Before investing in Polygon, consider subscribing to Profit PRO where can practice trading in Playtrade Tournaments, access AI-powered daily market insights, copy expertly handpicked Watchlists, and follow Billionaire Portfolios.