Polygon (MATIC)
What is a Polygon?
Polygon is a playground for building interconnected blockchain networks. Previously, this project was called the Matic Network (a reflection of this can be seen in the coin’s ticker). The direction of its activity is the elimination of those restrictions that exist in the Ethereum network, such as relatively weak bandwidth, an inconvenient interface for users, and transaction delays. Polygon was conceived and created as a platform for launching interoperable blockchains.
Thanks to Polygon, different developers can implement a blockchain network with the parameters that developers need. Networks can also be relatively easily customized thanks to the modular systеm.
The systеm on which Polygon is built can be divided into 4 conditional layers:
- Ethereum layer;
- security layer;
- Polygon network layer;
- performance layer.
The Ethereum layer is smart contracts running on Ethereum. They are needed to complete transactions and act as a link between Ethereum and Polygon chains. The security layer functions alongside Ethereum and acts as a “validator as a service” that enhances the security of the network. These two layers are optional, unlike the other two.
Polygon networks layer acts as an ecosystem for blockchain networks that are created in Polygon. And the last, execution layer, is the implementation of the Ethereum virtual machine (EVM) Polygon, which is needed to execute smart contracts.
Chains implemented on Polygon have the ability to work both in conjunction with and with the main Ethereum chain. This variability is made possible by Polygon’s custom messaging functionality. This functionality greatly expands the potential applications of the blockchain, especially in decentralized applications.
Polygon as a project has its own long-term goal – to make the world more open, where people can work with decentralized goods and services without the participation of various intermediaries.
Polygon Mining
Polygon cryptocurrency supports Proof-of-Stake (PoS). Thus, in order to mine coins, you need to stake them on your wallet. Also, there is an option to delegate them to the validator, receiving income for it.
How to buy Polygon?
If you are going to buy Polygon, then you have two main options for how to do it – on a crypto exchange or through a reliable crypto exchange, such as Leoexchanger!
Polygon price change dynamics (in US dollars)
As of September 2022, 1 MATIC is worth approximately $0.8067. The total market capitalization is $7,046,637,441.
The price movement chart is shown below:
How does Polygon store?
One of the storage options for Polygon is an account on a crypto exchange. If you need more security, use a crypto wallet for storage. When choosing a crypto-wallet, pay attention to whether the crypto-wallet supports the possibility of staking cryptocurrency.
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