What is Polygon (Matic)?

Polygon is a cryptocurrency built to be used in the Polygon network. It is an ERC20 token that can be bought, sold, and traded on the Polygon network using regular fiat currency.

Polygon Network is an open-source cryptocurrency that has been designed to solve the scalability problem plaguing Ethereum. Polygon coin aims to be the first solution for the scalability issue facing blockchain networks, including Bitcoin, Ethereum and Litecoin.

The Matic Network

The Matic Network is a decentralized protocol for the creation, consumption, and exchange of digital goods and services. The protocol consists of two components: the Matic Consumer Network (MCN) and the Matic Marketplace (MMP).

The MCN provides consumers with a marketplace for various digital goods and services, such as music, video, ebooks, books, games, etc. The MMP is used to facilitate payments between the MCN and consumers’ organizations or individuals.

How it Works?

Polygon is a decentralized cryptocurrency that aims to provide multiple tools to improve the speed and reduce the cost and complexities of transactions on blockchain networks.

Polygon is a peer-to-peer network enabling users to transact with each other without the need for a centralized server or authority. Polygon uses smart contracts to confirm transactions and make payments without any third party, such as banks.

The Matic Token

Polygon is a cryptocurrency that will be used to create a network of decentralized applications (dApps). Polygon will be used to reward dApp developers and users who utilize its network. Polygon will also allow users to use the platform in exchange for a single transaction fee.

Polygon Network is an open-source platform that allows anyone with a computer and internet connection to manage dApps, making them the next generation of decentralized applications.

Polygon Network literally allows anyone with access to a computer and internet connection to build their own dApps, which are free, secure, and interoperable with Ethereum, Bitcoin, or any other blockchain.

The Role of Matic tokens (MATIC)

Polygon is a scaling solution that aims to provide multiple tools to improve the speed and reduce the cost and complexities of transactions on blockchain networks.

Polygon provides a number of tools to help developers, miners, and businesses make smart contracts more accessible. Polygon is a scalable blockchain platform that enables various features including:

a) Transaction confirmation within minutes or seconds;

b) Smart contract storage in the blockchain;

c) Multisig transactions or multi-signature transactions;

d) Multisignature wallets;

e) Smart contracts execution on the Ethereum network; and,

f) Multisignature wallets with multi-signatures.

Where to Buy Polygon (MATIC) Tokens?

Polygon (MATIC) token is available in all the popular cryptocurrency exchanges like Binance, Coinbase, FTX, Kraken, Gemini, Bittrex, Crypto.com, WazirX, etc.

If you are in Canada, you can buy MATIC directly using Canadian dollars on Newton.co.

Price of Polygon (MATIC)

The current price of Polygon (MATIC) is $0.823. [17 Sep 2022].

All time high of Polygon (MATIC) is $2.92

All time low of Polygon (MATIC) is $0.003012

Conclusion

Polygon is a Layer 2 scaling solution that achieves scale by utilizing sidechains for off-chain computation and a decentralized network of Proof-of-Stake (PoS) validators.

Basically, it is a scalable blockchain network in which transactions are processed in parallel, reducing transaction fees and improving privacy.

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