Polygon
matic
MATIC (Polygon) Price Chart
MATIC (Polygon) Price Converter
24-Hour Range
Market Cap
Supply
All Time High
MATIC (Polygon) Price Perfomance
Period | Change [%] | Low | High |
---|---|---|---|
24h | 1.03% | $0.543 | $0.562 |
7 days | -4.19% | $0.574 | $0.591 |
14 days | -10.29% | $0.61 | $0.631 |
1 month | -23.99% | $0.729 | $0.741 |
1 year | -16.17% | $0.644 | $0.671 |
MATIC (Polygon) Index
MATIC (Polygon) Explained:
Polygon was founded as the Matic Network in 2017, and held its initial exchange offering (IEO) on Binance in April 2019. The Matic Network’s mainnet launched in June of 2020, before rebranding to Polygon in February 2021.
In February 2022, Polygon raised a total of $450m from investors including Sequoia Capital, Galaxy Digital, Kevin O’Leary, and Tiger Global. As of 2022, Polygon committed $1 billion of its treasury funds towards Zero-Knowledge (ZK) efforts, including further development of its zkEVM.
1. What is MATIC?
MATIC is the native token of the Ethereum Layer-2 (L2), Polygon. Polygon is a scaling solution run on the Ethereum Virtual Machine (EVM) that provides users with cheaper and faster transactions, while maintaining the security of Ethereum.
2. How does Polygon Work?
Polygon offers a variety of blockchain technologies, including its Proof-Of-Stake (PoS) sidechains, and its zkEVM.
Polygon PoS utilizes sidechains, which are responsible for processing transactions in a high throughput, low latency environment. On the PoS sidechains, the network relies on its independent validators for security.
Polygon zkEVM on the other hand uses ZK Rollups and inherits its security from the Ethereum mainnet by publishing proofs on-chain that validate the off-chain computations.
4. What are the risks of investing in MATIC?
The market for Ethereum Layer-2s is highly competitive, with the top 5 L2s by market cap commanding 80% market share.
Polygon is also dependent on the adoption of Ethereum mainnet. If Ethereum adoption and development slows, the demand for its scaling solutions is likely to fall as well.
5. What are the benefits of MATIC?
MATIC offers a trustworthy scaling solution for the Ethereum network, offering users faster and cheaper transactions than what they would experience on mainnet.
Polygon’s diverse approach to scaling Ethereum allows for a wide range of developers, dApps, and projects to launch on its network.