What is Polygon?
Polygon is a Layer-2 scaling solution built to alleviate network congestion and reduce high gas fees on the Ethereum blockchain. It operates as a 'layer two' or 'sidechain' alongside Ethereum, enabling fast transactions and lower fees. MATIC serves as the native cryptocurrency of the Polygon network, utilized for fees, staking, and various other functions.
Polygon goals
The purpose of Polygon is to enhance the scalability, flexibility, and sovereignty of Ethereum-compatible projects and blockchains while leveraging the security and interoperability of the Ethereum network. Polygon aims to improve upon Ethereum as a blockchain development network, providing additional features relating to security, blockchain sovereignty, user and developer experience, and modularity.
Polygon fondamentals
The maximum supply of MATIC is 10000000000 MATIC tokens. MATIC is an ERC-20 token, meaning that it's compatible with other Ethereum-based digital currencies. MATIC is used to govern and secure the Polygon network and pay network transaction fees.
Marketcap
$1.342B
Total number of Polygon
10000000000 MATIC
Polygon technology
Polygon's technology works by using a modified proof-of-stake consensus mechanism that enables a consensus to be achieved with every block. The proof-of-stake method requires network participants to stake—agree to not trade or sell—their MATIC, in exchange for the right to validate Polygon network transactions. Successful validators in the Polygon network are rewarded with MATIC.
Polygon competitors
Polygon differentiates itself from competitors by providing a secondary scaling solution that is compatible with and complements the Ethereum blockchain. Its competitive advantages include its ability to improve upon Ethereum as a blockchain development network, providing additional features relating to security, blockchain sovereignty, user and developer experience, and modularity.
Polygon price history
Frequently asked questions
Polygon is a Layer-2 scaling solution built to alleviate network congestion and reduce high gas fees on the Ethereum blockchain.
The purpose of Polygon is to enhance the scalability, flexibility, and sovereignty of Ethereum-compatible projects and blockchains while leveraging the security and interoperability of the Ethereum network.
The maximum supply of MATIC is 10000000000 MATIC tokens.
Polygon's technology works by using a modified proof-of-stake consensus mechanism that enables a consensus to be achieved with every block.
MATIC is used to govern and secure the Polygon network and pay network transaction fees.
Polygon differentiates itself from competitors by providing a secondary scaling solution that is compatible with and complements the Ethereum blockchain.
Polygon's use cases include enabling faster and more cost-effective transactions, allowing users to send and receive crypto assets, staking MATIC to earn interest, and accessing blockchain bridges for seamless interactions between different blockchain protocols.
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