Polygon (MATIC)

The exchange rate of one MATIC at 16:13 UTC is 0.69$

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“Polygon” is a secure layer-2 crypto network with autonomous sidechains that aims to increase scalability and reduce transaction costs on the Ethereum platform. In addition to its developed modules, the project will support third-party software components to relieve network load.

The test network "Matic Network" was launched in October 2017 under the leadership of Jaynti Kanani and Sandeep Nailwal, who saw their brainchild as a means to significantly improve the operation of the Ethereum blockchain across the board, as a result of which the IEO of "Matic" tokens was held in 2019 , which raised more than $ 5.5 million, and after that in 2021 a rebranding was made with the new name “Polygon”.

The main component of the system is the SDK package, which allows to run decentralized applications. Meanwhile, the platform infrastructure includes four abstract levels, among which:

- “Ethereum Layer”, responsible for finalizing, farming and arbitrating various disputes

- “Security Layer”, serving to distribute rewards to validators

- “Network Layer”, which is used to create new blocks and confirm transactions

- “Execution layer”, that provides interpretation and comparison of financial transactions

At the same time, the mechanism for processing transactions under the “PoS” scheme allows masternodes to stake “Matic” tokens, for which there is a mechanism for subsequent removal in order to create an artificial scarcity.

The main advantages of this cryptosystem are:

- feature-rich architecture that allows programmers to choose optimal speed solutions that meet their needs

- application developers have the ability to change the scaling system to a faster or slower one as their projects develop

- the main link is the Ethereum blockchain, which ensures user trust

The total supply of Matic crypto coins is 10 billion tokens with a current capitalization level of about $10 billion, which makes it possible for this project to enter the TOP-20 of the CoinMarketCap rating. Also, many well-known crypto platforms are already operating on the basis of this blockchain, including 1inch Network, Decentral Games, SushiSwap, Polymarket, SportX, etc.