Coins 17,370 Exchanges 1,144 Market Cap $2,141,497,796,799 6.48% 24h Vol $169,174,982,035 BTC 55.85% ETH 8.77%
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Polygon price

Polygon Price (MATIC)

$0.71907

4.87%
Rank #139

Polygon Price Chart (MATIC/USD)

Last updated 04 Dec 2024, 10:16AM UTC. Currency in USD.

Market Cap
$1,589,490,643
Volume (24h)
$54,875,274
Change
4.87%
Circulating Supply
2,202,719,773
All Time High
$3
Markets
# Exchange Pair Price Spread Volume(24h) Trust
Live market quotes are updating. Check back shortly or see the price chart above.

MATIC Price Statistics

$1
24H Range
$1
  • Polygon Price Now $1
  • 24h Low / 24h High $1 / $1
  • Trading Volume $54,875,274
  • Market Cap Rank #100
  • Market Cap $1,589,490,643
  • Volume / Market Cap 0.0345
  • All-Time High $3 -75.06%
    Dec 27, 2021
  • All-Time Low $0 23,032.29%
    May 10, 2019
Homepage:
polygon.technology
Explorers:
etherscan.io ethplorer.io polygonscan.com bscscan.com moonriver.moonscan.io moonbeam.moonscan.io explorer.energi.network
Forum:
Chat:
open.kakao.com discord.com t.me
Announcement:
medium.com
Social:
Twitter Telegram Reddit
Bitcointalk:
Github:
maticnetwork/contracts maticnetwork/heimdall maticnetwork/matic.js maticnetwork/eth-dagger.js maticnetwork/sol-trace

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Polygon: A Solution for Ethereum's Scalability

Polygon is a Layer-2 scaling solution that aims to provide faster and cheaper transactions on Ethereum while maintaining the benefits of a decentralized network. This article discusses the key features and applications of Polygon and its native token, MATIC.

What is Polygon?

Polygon, formerly known as Matic Network, is a framework for building interconnected blockchain networks. It aims to address some of Ethereum's major limitations—including throughput, poor user experience (high speed and delayed transactions), and lack of community governance—using a novel sidechain solution.

Polygon's Scalability Features

Polygon employs a combination of PoS (Proof of Stake) and Plasma-enabled sidechains to achieve high-speed and low-cost transactions. This makes it possible for Polygon to process up to 65,000 transactions per second on a single side chain, along with a respectable block confirmation time of less than 2 seconds.

MATIC: The Polygon Token

MATIC is the native token of the Polygon network. It is used for a variety of purposes within the Polygon ecosystem, including participating in network governance through voting, staking, gas fees, and transaction fees.

Polygon's Role in Decentralized Finance (DeFi)

With Ethereum's high transaction fees posing a barrier for users wanting to take part in DeFi, Polygon's ability to provide cheaper and faster transactions makes it a preferred choice for DeFi applications. Several popular Ethereum-based DApps have already integrated with Polygon.

Conclusion

Polygon is helping to solve scalability and usability issues for the Ethereum blockchain, which is particularly important given the growing popularity of DeFi applications. However, like all cryptocurrencies and blockchain projects, potential users and investors should conduct their own research and be aware of the risks involved.