In early 2021, Matic, an Ethereum infrastructure project, will be rebranded as Polygon. Polygon, which was created for Ethereum project developers, works on the facilities of the Ethereum network or blockchain to create products that make blockchain transactions faster and more secure.
Polygon previously known as Matic has many goals, but making Ethereum (ETH) and the Ethereum blockchain easier to use for developers is one of the main objective to develop this coin. Ethereum was designed to host applications and smart contracts, which are agreements that can be validated and executed without the approval or intervention of a third party, such as a judge or lawyer.
The existing Matic project had over 80 applications that processed approximately 7 million transactions for approximately 200,000 users prior to its relaunch as Polygon. So, what makes this cryptocurrency project and its associated token, MATIC, stand out from others?
Matic’s developers observed “scalability and user-experience issues” have hampered the mass adoption of smart contracts and dApps. To address this, Matic decided to use Ethereum sidechains to process apps and contracts. A sidechain is a distinct blockchain that is linked to its parent blockchain via a two-way peg, allowing for interchangeability.
The sidechain fix was effective because it allowed the project’s goals to be met without slowing down the entire network. The MATIC token would be the medium to pay transaction fees on the Matic network, just as Ethereum transactions require gas paid in ether. Polygon (MATIC) gained a new round of credibility and funding as a result of the cryptocurrency sector’s attention.
Polygon Coin is the currency of digital era. As the technology is getting advanced, the acceptance of digital currency increasing world wide. This coin is still very volatile but it’s market cap is increasing continuously. As per market experts Polygon will be one of the valuable crypto in the future.
You can make money in Polygon by various methods like Matic mining and speculation (Buying and Selling Matic). All the methods listed above doesn’t have guarantee of making money but it’s working. So research well before making any trade or investment.
Polygon is very volatile and it’s acceptance in the form of digital currency is in progress. So, if you are investing in polygon then make it 10% of your total investment. This will help you to diversified your investment and gives protection to any sudden crash.
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- Ethereum Explained.
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- XRP Explained.
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- BNB Explained.