Polygon (formerly Matic Network) - the first well-structured, easy-to-use Ethereum scaling and infrastructure development platform. Its core component is the Polygon SDK, a modular, flexible framework that supports the creation of multiple types of applications.
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About the Polygon project
Polygon effectively turns Ethereum into a complete multi-chain system. This multi-chain system is similar to others like Polkadot, Cosmos, Avalanche, with the benefits of Ethereum security, vibrant ecosystem and openness. Polygon - a second layer scaling solution, backed by Binance and Coinbase. The project aims to stimulate the mass adoption of cryptocurrencies by solving problems on many blockchains.
Polygon combines:
| Plasma Framework | The Plasma framework, proposed by Ethereum co-founder Vitalik Buterin, makes it easy to execute scalable and autonomous smart contracts. |
| Proof-of-stake blockchain architecture | Proof-of-Stake – the most famous crypto-currency consensus algorithm among miners. It offers proof mechanisms that differ from each other in their structure. |
With Polygon, new features are built around existing proven technology to enhance the ability to meet the diverse needs of the developer ecosystem. The project proposes the development of the underlying technology so that it can scale to the wider ecosystem. The platform boasts up to 65,000 transactions per second on a single side chain, as well as a block confirmation time of less than two seconds. The framework also allows the creation of globally accessible decentralized financial applications on a single underlying blockchain.
Project uniqueness
The project is not looking to upgrade its current blockchain base layer any time soon. It aims to reduce the complexity of blockchain scalability and instantaneous transactions. Polygon uses a custom version of the Plasma platform, which runs around proof-of-stake checkpoints, running through the Ethereum main chain. This unique technology allows each chain to reach up to 65536 transactions per block.
Polygon's commercial side chains are structurally designed to support the various decentralized finance (DeFi) protocols, available in the Ethereum ecosystem. While Polygon currently only supports the Ethereum base chain, the network intends to expand support for additional base chains, based on community proposals and consensus. This would make Polygon an interoperable second-layer decentralized blockchain platform.
Where can I buy MATIC?
MATIC tokens are issued monthly. MATIC currently has a circulating supply of 4877830774 MATIC tokens and a maximum supply of 10000000 MATIC tokens. As one of the projects that have made a big contribution to the development of the Ethereum ecosystem, MATIC is popular among DeFi-focused online exchanges. The best exchanges where you can buy, sell and trade MATIC are:
- Binance;
- Coinbase Pro;
- Huobi Global;
- FTX;
- KuCoin.
Popular MATIC price pairs: MATIC/USD, MATIC/GBP, MATIC/AUD, MATIC/EUR and MATIC/JPY.