Polygon, formerly recognized as the Matic Network, is one of the leading crypto projects out there. It was developed to build on the Ethereum Blockchain.
Since the project launched, it has continued to generate a lot of buzz, with developers projecting it as the blockchain project that would finally introduce Ethereum to the general population.
Polygon Matic was designed to provide a simple plug-and-play solution to crypto projects.
Thanks to providing a simplified process for using blockchain technology, Polygon Matic has increased demand and interest for Ethereum and other digital assets.
Despite being championed by an ecosystem of scalable collaborative blockchains, Polygon Matic is lauded for its self-sovereignty.
Interested in Matic?
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A brief history of Polygon Matic
Polygon Matic was launched in 2017. The project was founded by Jaynti Kanani, Sandeep Nailwal, and Anurag Arjun. Before being rebranded to Polygon Matic, the project was first called the Matic Network. But as the project began to expand and gain traction, it was rebranded to Polygon.
Polygon Matic was initially developed as a Layer 2 scaling solution. But as the company evolved, it metamorphosed into an interactive, collaborative, and self-sustaining Ethereum blockchain.
The Polygon token at a glance
Matic is the native token of the Polygon ecosystem. Being the native token of the Polygon blockchain meant that users on the network would use Matic coins to pay all transaction fees.
The recent hype about the project stems from the fact that Polygon Network prioritizes improving its usability and scalability by leveraging the Ethereum blockchain. And compared to other crypto projects, Polygon Matic is lauded for its cheap and fast transactions.
Besides being used to pay transaction fees on the Polygon network, Matic will also be involved in PoS decision-making.
Thanks to Matic, users, companies, and organizations can now create decentralized applications by leveraging the usability and scalability provided by the Ethereum blockchain.
Matic circulating supply
Matic has an initial circulating supply of 3,230,085,551. During its initial coin offering, Matic was valued at only $0.00263. However, since it launched, the project has skyrocketed in value, reaching as high as $2.92 during the last bullish run.
At the moment, Matic’s total supply equals 10 billion. Here is a breakdown of Matic’s total supply. When Polygon was launched, the team behind this project agreed that 23.33% of the Matic supply would remain on the Polygon platform. Another 21.86% was allotted as the foundation’s shares. Additionally, 12% was reserved for network operations. The Polygon team was allocated 16%. The remaining 4% were allocated to advisors and investors.
Polygon as a one-click blockchain solution
One of the selling points of Polygon is becoming a one-click blockchain solution, and they have been able to achieve this feat. As a leading blockchain solution, Matic provides various rich features, including:
- One-click deployment of preset blockchain and networks.
- Polygon has a brilliant set of modules that can be deployed for planning and developing custom networks.
- It handles interoperability with perfection, as it has dedicated protocols that allow for a seamless exchange of messages between Ethereum and other blockchain protocols.
- Polygon has powerful adaptor modules that enable interoperability for all existing blockchain networks.
What are the features of Polygon Matic?
Matic has some remarkable features, including lightning-fast transaction speed, improved security, robust user experience, trusted scalability, sovereignty, Ethereum compatibility, interoperability of assets, and smooth developer experience. In terms of transaction speed, the Polygon network can process up to 65k transactions per second.
Where can I buy Matic?
If you have read to this point, we are sure you won’t mind adding Matic to your investment portfolio. Now, the big question is, where can I buy Matic? While there are tons of crypto exchanges where you can seamlessly buy Polygon Matic, we prefer eToro, and that’s because of the ease they offer.
Plus, eToro has one of the cheapest trading fees we have come across. With eToro, you are not only dealing with a reliable broker but also one that is committed to seeing you win.
How to trade Polygon Matic on eToro
- Before you can start trading Matic on eToro, you need to first open an account, that’s if you don’t already have one. If you’re signing up for an account for the first time, it will interest you to know that signing up for an account on eToro takes only a few minutes. More so, you’re only required to submit basic information.
- After signing up for an account, you’ll need to have your eToro account funded. Thankfully, eToro supports multiple payment methods, including credit/debit cards, PayPal, bank transfer, and more, so funding your account won’t be an issue.
- With your account now funded, you can navigate the eToro dashboard and click on the “Trade Markets” option.
- On the page that pops up, select crypto.
- Scroll down through eToro’s crypto selection and choose Matic.
- Click on the buy button and choose the amount of Matic you would love to purchase.
- Click on the open trade option, and you’re good to go.
Important Things to Know About Polygon (MATIC)
Polygon network delivers impeccable blockchain performance-improving experience. Polygon’s brilliant blockchain performance-improving technology called “sidechain” was launched by the company to seamlessly connect to a blockchain to improve transaction speed at lower fees.
Polygon is intentional about building a powerful framework for blockchain networks. One of the company’s numerous projects includes building a framework for blockchain networks. This makes it possible for individuals to develop blockchain networks to connect with other users.
Matic is unique in that it is compatible with Ethereum Virtual Machine, or EVM for short. The EVM is a powerful technology used by developers to build their own decentralized applications or DaPPs. Since Polygon is EVM compatible, it simply means that developers can seamlessly connect their apps to the Polygon ecosystem without any hassle.
Polygon’s native token, Matic, is used for paying transaction fees on the ecosystem. It can also be used for staking and governance.
Besides eToro, you can also trade Polygon Matic on popular cryptocurrency exchanges like Gemini, Coinbase, and more.
Is MATIC a Good Investment?
Matic has shown tremendous promise, making it a good investment for anyone who wants to make some extra bucks trading cryptocurrency. During the last bullish run, Polygon Matic increased astronomically in value.
From trading at a measly $0.03 at the end of 2020, Polygon Matic reached an all-time high of $2.92. Although it has taken a breather, following the bearish winter currently rocking the crypto market, it is still trading at around $1.14. So if you bought at $0.03, you’ll still be in significant profit.
At the moment, Matic is at a good place to buy some. So if you have been thinking of adding this digital asset to your portfolio, we think now is a fantastic time to jump in.
