Overview of Polygon (MATIC): Decoding the Enigma

Before we start with MATIC price prediction, an ideal blockchain platform which Polygon provides cheaper and lightning-fast transactions eliminating the complexities involved in the decentralized ecosystem. It has been created with the sole objective of a multifunctional and multipurpose advantage in all walks of life. Polygon price prediction is mentioned here in detail.

MATIC Overview

Cryptocurrency Polygon
Ticker Symbol MATIC
Price $0.7248
Price Change 24h +7.83%
Price Change 7d -7.91%
Market cap $4,960,849,164
Circulating Supply 7,956,181,045 MATIC
Trading Volume $352,412,685
All time high $2.92
All time low $0.003012
Matic ROI +13685.85%

Polygon Network was brought to life by CEO Jaynti Kanani (Read the full interview by CrpyotNewsZ here), Sandeep Nailwal, and Anurag Arjun in October 2017 after Vitalik Buterin and Joseph Poon released a whitepaper on the Plasma framework. It was observed by the duo that Ethereum layer was not fully scalable and hence they coined the benefit of using PoS side chains connected to the root chain.

Here each and every individual chain deals with its independent blockchain networks with its consensus mechanism, block validators and it can create more “child chains” of its own.

Recently, formerly Matic Network, rebranded to Polygon — Ethereum’s Internet of Blockchains. The existing Matic solutions remain functional and high priority. MATIC token remains important for securing and governing the network.

Most of the developers and projects want to build their scaling solutions within the Ethereum ecosystem in order to benefit from its security and network effects. However, they are struggling to navigate its unstructured Ethereum scaling landscape and to deal with its implementation complexities.

Hence, Polygon Matic announced plans to enhance its support for the Ethereum network to scale faster and reduce the growing transaction costs. The main objective of Polygon Matic is to decrease the high fees paid on the Ethereum blockchain along with scaling for crypto projects and enterprises. Polygon will introduce structure to this ecosystem and provide a framework to help it grow further and faster.

Polygon: The MATIC Token

The round-the-clock active team of Polygon Network has produced interface libraries that are first of their kind. These are tools that help you create programs and implement the interface. The network also brought to the masses a unique MATIC coin in the first half in the year 2019.

The current Polygon price stands around $1.30, the current circulating supply is 7,814,866,567 MATIC, and the total supply of other coins currently stands at 10,000,000,000 MATIC.

Vantage Polygon: Limitless Potential

For payments, integrating MATIC on dapps enables settlement of payment services whenever, wherever. The confirmation of such transactions gets processed in a fraction of seconds. This happens due to faster block generation times wherein the fees are the lowest. MATIC provides APIs/SDKs for dapps, merchants, and users to instantly accept or pay in crypto assets like ERC20 tokens, ETH, and others.

MATIC enables decentralized exchanges to offer expeditious and inexpensive trades for their users. Integration with Polygon helps these exchanges to run on steroids making them trustworthy and secure. No wonder this Polygon SDK decentralized exchange drives which is undoubtedly feasible in the near future price of digital assets.

Moreover, it reinforces gaming networks thereby speeding up their performance in processing transactions since all the processes in the gaming world happen over blockchain, they become more reliant on Polygon Network.

Personal data security is another accountability zone of Polygon Network as it is in itself a blockchain scalability platform an adapted version of Plasma.

The users tend to send and receive payments in the virtual currency of their choice through MATIC smart contracts as it handles the conversion through atomic swaps between cross-chain crypto assets.

Polygon also acts as a Lending & Credit scoring platform for merchants. The traders can ascertain the worthiness and credibility of their borrowers viewing their transaction history facilitating lending of tokens to those who stand a better chance of timely repayment.

Through an open-identity system, technical analysis of Polygon (MATIC) ensures that users have control over their private keys without worrying about their security or divulging personal keys

More advantages follow……..

  • Multifunctional attributed to Polygon enables diversified uses of existing apps including security and safety of data and transactions.
  • Polygon ensures Accessibility especially in Layer 2 solutions
  • Variety of Application platforms offered on Matic creating a surreal experience.
  • Intertradability is another key feature of Matic via DEXs
  • Through Zapier integration through Dagger on Matic developers can onboard Ethereum platforms that boost mass adoption thereby enhancing productivity and supporting more apps in the process.
  • Polygon allows access to partnership via Decentraland, Zebi, Hey Coral, and MakerDao.
  • Plasma operator mechanism of Polygon enables scalability allowing up to 65k TPS.
  • Plasma wallet mobile app integrated with WalletConnect, to ensure secure storage of keys, intuitive access to the features provided by the Matic.
  • Features supporting mobile applications and developer kits are extremely user-friendly and have their independent version of the PoS algorithm.
  • A plethora of DeFi apps can be posted on Matic’s price sidechains.

What is Cooking in Polygon Ecosystem:

Polygon (MATIC) has always been aggressive on partnerships and bringing constant updates in tandem with the latest technology and hence projects always have something innovative to bring to a platter.