Polygon (MATIC) is an Ethereum token that is used to power the Polygon Network, an Ethereum multichain scaling solution. Matic Network, now Polygon, the ultimate framework aiming at improving interoperability between the Ethereum blockchain and compatible networks, has recently seen a significant increase in traffic. MATIC might be a rewarding investment in 2021 and beyond, according to digitalcoinprice.com. MATIC tokens could reach $3.05 in 2021, $5.5 in 2025, and $9.41 in 2028, according to the company's pricing predictions. Polygon (formerly Matic Network) has witnessed its market cap more than tenfold increase since February, thanks to increased use of its blockchain by gaming, non-fungible tokens (NFTs), and DeFi (decentralized finance).
Polygon, a local crypto firm, has joined the Bitwise 10 Large Cap Crypto Index (BITX), which measures and weights the performance of the ten largest crypto assets by free-float market capitalization.
It was fueled by a staggering 26.700% increase in the value of its native token MATIC since the start of 2021.
What is Poplygon (Matic) Token?
The Matic Polygon coin, unlike Bitcoin and Ethereum, is unaffected by high transaction fees owing to congestion. It's an open-source technology that gives developers the tools they need to create a stand-alone network or a secure sidechain using smart contracts and the Ethereum network's security.
Last week, the market capitalization of Polygon, which was created by three Indians, surpassed $10 billion. And, according to Coinmarketcap.com, it is presently among the top 20 crypto tokens in the world, with a market cap of $13 billion.
Coinbase, a Nasdaq-listed company, began trading the Polygon currency in March. Polygon is a set of side roads that Ethereum developers can utilise to construct apps on the Ethereum blockchain more rapidly and cheaply. It's a priceless network.
The most technically advanced cryptocurrencies with the most intrinsic worth applications - is the key to striking it big in the crypto market right now.
Polygon Matic Coin Details
Indian Price: RS 139
Market Cap: $ 11.26 billion
All-time high (daily avg.): $ 2.29 on 5/18/2021
Polygon uses a variety of technologies such as
POS Chain: Polygon's main chain is the Matic POS Chain, an Ethereum sidechain that adds a proof-of-stake (POS) security layer to blockchains created on the platform.
Plasma Chains: Polygon employs Plasma, a scaling technique that allows assets to be moved between the root and child chains using Plasma bridges.
ZK-rollups: An alternative scaling approach that uses zero-knowledge proofs for the final public record on the Ethereum main chain to bundle a large number of off-chain transactions into a single transaction.
Optimistic rollups: A system built on top of Ethereum that uses "fraud proofs" to enable near-instant transactions.
How to Buy Polygon (MATIC) in India?
Binance and Coinbase have backed Polygon (previously Matic Network), a Layer 2 scaling solution. The project aims to increase cryptocurrency acceptance by addressing scalability issues across several blockchains.
WazirX offers Polygon
They are one of the most respected exchanges offering Polygon (MATIC) trading, and they accept clients from all over the world. This exchange is a member of the Binance Group, which guarantees a high level of service.
Polygon (previously Matic), a blockchain scalability platform, was founded by Jaynti Kanani, Sandeep Nailwal, and Anurag Arjun in 2017. It was developed to address the issue of high transaction costs and slowness on ethereum, the world's second-largest cryptocurrency by market value.
Polygon's MATIC token ended May Up 120%
Polygon Network's Ethereum layer 2 scaling solution has seen increased usage, allowing the platform's token (MATIC) to mostly avoid the fate of other cryptocurrencies in May, when the price of bitcoin crashed.
According to a research paper issued on June 2 by analytics firm IntoTheBlock, MATIC was able to withstand the harshest effects of the downdraft because of Polygon's growing usage and constant rise in the congestion and high fees that plague the DeFi-dominating Ethereum blockchain.
MATIC's outstanding success demonstrates that a cryptocurrency with excellent foundations can mainly withstand a price drop in bitcoin. As a result, unless Ethereum sees a persistent decline in transaction costs or usage, the currency could continue to increase in the coming months.