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MATIC Price
$0.79401
-0.42%
Market Cap
$7.36B
24H Volume
$442.82M
Circ Supply
9.28B

MATIC Market Stats

  • Price $0.79401
  • 1H Change +0.26%
  • 24H Change -0.42%
  • 7 Day Change +7.43%
  • 30 Day Change +11.6%
  • 1 Year Change -13.06%
  • All-Time High $2.91460
  • % From ATH -72.72%
  • ATH Date Dec 27, 2021

Polygon Background

Bitpanda

Polygon, a prominent layer 2 scaling solution on Ethereum, has emerged as a multifaceted and scalable platform, enhancing the Ethereum ecosystem’s capabilities. As a layer 2 scaling solution, Polygon effectively addresses major challenges such as high gas fees and slow transaction speeds that have been hurdles for Ethereum users.

Core Features of Polygon

Scalability & Efficiency: At its core, Polygon increases transaction throughput by processing transactions off the main Ethereum chain (Layer 1) and then batching them together for finalization on Ethereum. This method significantly reduces congestion and gas fees.

Ethereum Compatibility: Polygon maintains a high degree of compatibility with Ethereum’s tools, DApps, and infrastructure, making it a seamless transition for developers and users from Ethereum.

Security: Leveraging Ethereum’s robust security model, Polygon adds additional layers of security through its validators and its unique Proof of Stake (PoS) mechanism.

Versatility: It supports multiple scaling approaches, including sidechains, zkRollups, and Optimistic Rollups, offering flexibility for developers in choosing the right scaling solution for their specific needs.

Key Milestones in Polygon’s Journey

Rapid Adoption: Since its inception, Polygon has seen widespread adoption by numerous DApps, NFT platforms, and decentralized finance (DeFi) projects, attracted by its scalability and low transaction costs.

Major Collaborations: Polygon has partnered with significant industry players like Aave, Curve, and SushiSwap, further integrating into the broader crypto ecosystem.

Token Performance: MATIC, the native token of Polygon, has exhibited strong performance in the crypto market, reflecting the platform’s growing popularity and utility.

The Team Behind Polygon

Polygon was co-founded by a team of experienced blockchain developers and entrepreneurs, including Jaynti Kanani, Sandeep Nailwal, and Anurag Arjun. Their diverse backgrounds and deep understanding of blockchain technology have been instrumental in Polygon’s development and success.

 Future Outlook

Looking ahead, Polygon is well-positioned to play a pivotal role in the evolution of blockchain technology. Its commitment to enhancing scalability and user experience on Ethereum, coupled with a strong team and community support, sets it up for continued growth and innovation in the crypto landscape. As the blockchain sector evolves, Polygon’s adaptability and forward-thinking approach will likely keep it at the forefront of technological advancements.

Polygon Technical Info

  • Blockchain Own Blockchain
  • Hash Algorithm None
  • Org. Structure Centralized
  • Development Status On-going development

Polygon News

Polygon Organization & Team

Polygon
Jaynti Kanani

Co-founder & CEO

Polygon
Anurag Arjun

Co-founder & CPO

Polygon
Siddharth Jain

VP - Operations & Marketing

Polygon
Bhavir Shah

Head, Engineering

Polygon
Vaibhav Chellani

Blockchain Engineer

Polygon Intelligence

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All images, branding and wording is copyright of Polygon. All content on this page is used for informational purposes only. CryptoSlate has no affiliation or relationship with the coins, projects or people mentioned on this page. Data is provided by CoinMarketCap and TradingView.