What is Polygon (MATIC)?

Polygon is a well-structured framework for Ethereum development. It features a flexible framework called Polygon SDK, which enables developers to create various types of apps. With Polygon(MATIC), one can create rollup chains, ZK chains, and stand-alone chains. It completely transforms Ethereum into a multi-chain system. Its advantages include Ethereum’s robust ecosystem and openness.

The $MATIC token will remain an integral part of the system and its governance. Its role will become more significant as the project grows. The goal of Polygon(MATIC) is to create a blockchain framework that is easy to use and deploy while still keeping the integrity of the existing blockchain.

Nothing will change regarding the existing ecosystem. Instead, it will be built around the current technology and its robust developer ecosystem. Polygon is a blockchain framework that enables anyone to develop decentralized financial applications on their own. Its full block confirmation time and low transaction fees make it an ideal platform for developers.

The concept of the Plasma framework is that it allows decentralized applications to run on their infrastructure without being subjected to the typical drawbacks of proof-of-work networks. MATIC is the native token of Polygon and is used for settlement transactions within the Polygon ecosystem.

Features of Polygon(MATIC)

Polygon is a modular system that enables users to modify and extend its functionalities over time easily. The system’s robust design and modular architecture provide the stability and security required to keep it running smoothly. Polygon is a blockchain project that aims to reduce the complexity of blockchain transactions by focusing on reducing its complexity.

Polygon uses the Plasma framework. Its proof-of-stake checkpoints are built on Ethereum’s main chain. Sidechains of Polygon are designed to support various decentralized finance protocols (DeFi) in the Ethereum ecosystem.

While Ethereum is the only base chain supported by Polygon, the network plans to extend its support for other base chains. This would make the platform interoperability with other blockchains. Polygon’ Proof-of-Stake is an energy-efficient alternative to traditional blockchain platforms. It’s also an eco-friendly alternative to Bitcoin and Ethereum.

Securing tokens for asset security is a layer two solution that uses a network of Proof-of-Stake validators. By submitting tokens for validation, holders will be able to receive tokens in return. Members of the network can still participate in the MATIC staking process and earn rewards if they do not want to become validators. Block producers are layer three members of the chain whose goal is to provide a higher degree of decentralization.

Price History of Polygon

The price of  Polygon(MATIC) was worth $2.07 in May 2021; at the time of writing, the Polygon price was $1.62 USD, but have you ever wondered how Polygon reached these new highs?

Polygon has a volatile trading history among the class of assets. It rallies and crashes very frequently. But how did Polygon start gaining so much popularity? Let’s find out.

  1. 2019

MATIC ICO was first introduced in 2019. 

At the time of its release, it was valued at around $0.00035. The price rose to about $0.011 before the first bull run began, with Bitcoin leading the charge. The cryptocurrency fell to a price of $0.017 just before 2020. MATIC started to slide upward in late 2019.

  1. 2020

2020 was not an excellent year for MATIC, unlike other cryptos. The price of MATIC was in the range of $0.016 and $0.02 for the whole year.

  1. 2021

2021 was a decider in the history of Polygon‘s price.

This intense bull run attracted numerous investors and helped Polygon gain the #8th spot in the Crypto world.

But what has happened in history will help us figure out how Polygon will perform in 2021.

Polygon Price Prediction

When people believe that something is of value, it is expected to keep increasing, which is happening with MATIC. The public’s interest and attention are growing due to the large number of funds in circulation.

Even various reports by renowned analysts say that the leading cryptocurrencies hold a much greater price potential than they are currently trading at and will explode sooner in 2021.

Polygon price is expected to trade at $1.7 to $2.9 by the end of this year.

Recent Project Updates

EY makes use of the Polygon Network to serve its corporate clients better.

Bullish Speculation Is Finally Observed in Polygon

Polygon’s Ethereum Scaling Solution Will Be Integrated into Coinbase in an Effort to Reduce Exorbitant Prices and Settlement Times Coinbase has partnered with Polygon to improve its user experience. The company has already integrated the Polygon proof of stake mechanism into its wallet.

Scaleup is a company that is focused on Ethereum network expansion through the use of various scaling solutions. It has selected the Polygon network due to its impeccable support network.

Ways to enter the cryptocurrency market

You can enter the cryptocurrency world in two ways. 

The first is through mining. Various computer networks are used in this process to generate digital coins.

The second is through investing.

As cryptocurrency is no single authority, it operates on the Blockchain mechanism, which is truly decentralized.

You’re probably wondering how the transaction is verified before it’s added to the ledger?

To answer your question, this is where the miners come in.

Miners are the people in charge of the system.

Before you can begin trading, you must first create a valid account and pay with a cryptocurrency exchange. This step entails verifying your identity and other documents.

Trading via exchange

Choosing a cryptocurrency exchange is the simplest way to invest in cryptocurrencies. This procedure consists of five significant steps. Aside from selecting a cryptocurrency exchange, there are several ways to invest in Polygon.

To convert and accept cryptocurrencies, traditional (fiat) currencies can be used.

How to buy Polygon (MATIC)?

A Beginner’s Guide on how to buy Polygon in India

To get started, you’ll need to create a digital wallet. A digital wallet stores all of your cryptocurrencies and uses blockchain technology to communicate with other users. Before deciding where to invest your money, conduct extensive research. BuyUCoin is now one of the most popular and fastest-growing digital wallets on the market.

Step 1: Create a User Account

Visit the BuyUCoin website to register and create a service account.

Open a crypto-trading account by selecting your country and accepting the terms and conditions.

Step 2: Complete the KYC

KYC is required in the Indian jurisdiction.

KYC Process

Step 3Verify with 2 Factor Authentication

To add two-factor authentication to your account, download the Authenticator app.

2 Factor Authentication

Step 5: Fill in the bank information

Enter the required information, such as your name and credentials, the account holder’s name, and the IFSC code. 

Bank Verification

Final Words

Cryptocurrency has been around for a decade and has quickly become a haven for investors. Its strong returns have made it an excellent investment.

Cryptocurrencies appear fascinating and have enormous potential, but you should always invest in MATIC or any other cryptocurrency after thorough research and putting your strategies into action.

*This post is provided for informational reasons only; we recommend that you consult with your financial advisor before making any investment decisions.

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