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Polygon (MATIC) Price, Market Cap and Information


Polygon (MATIC) Buy Polygon Now
Polygon (MATIC) Polygon (previously Matic Network) is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development...
CVIX 62
Current price $0.747959
Change 24h 2.09%
Change 7d -0.35%
Market Cap $6 532 915 104
Available supply 8 734 317 475 MATIC
Volume 24h $279 264 862
Updated Thursday, September 29, 2022 11:00:08AM UTC
Nature Token
Mineable No
Discussion
WWW Website

Polygon price change 24 hours

Polygon Short Term Forecast

After Price Change
1 day $0.791471 5.82%

Polygon Price Predictions

Polygon General Information

General MATIC facts, technical details and Polygon Cryptocurrency information

Polygon (previously Matic Network) is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building multiple types of applications. Using Polygon, one can create optimistic rollup chains, ZK rollup chains, stand alone chains or any other kind of infra required by the developer.

Polygon effectively transforms Ethereum into a full-fledged multi-chain system (aka Internet of Blockchains). This multi-chain system is akin to other ones such as Polkadot, Cosmos, Avalanche etc. with the advantages of Ethereum’s security, vibrant ecosystem and openness.

The $MATIC token will continue to exist and will play an increasingly important role, securing the system and enabling governance. Polygon (formerly Matic Network) is a Layer 2 scaling solution backed by Binance and Coinbase. The project seeks to stimulate mass adoption of cryptocurrencies by resolving the problems of scalability on many blockchains.

Polygon combines the Plasma Framework and the proof-of-stake blockchain architecture. The Plasma framework used by Polygon as proposed by the co-founder of Ethereum, Vitalik Buterin, allows for the easy execution of scalable and autonomous smart contracts. Nothing will change for the existing ecosystem built on the Plasma-POS chain. With Polygon, new features are being built around the existing proven technology to expand the ability to cater to diverse needs from the developer ecosystem. Polygon will continue to develop the core technology so that it can scale to a larger ecosystem.

Polygon boasts of up to 65,000 transactions per second on a single side chain, along with a respectable block confirmation time of less than two seconds. The framework also allows for the creation of globally available decentralized financial applications on a single foundational blockchain.

The Plasma framework gives Polygon the potential of housing an unlimited number of decentralized applications on their infrastructure without experiencing the normal drawbacks common on proof-of-work blockchains. So far, Polygon has attracted more than 50 DApps to its PoS-secured Ethereum sidechain. MATIC, the native tokens of Polygon, is an ERC-20 token running on the Ethereum blockchain. The tokens are used for payment services on Polygon and as a settlement currency between users who operate within the Polygon ecosystem. The transaction fees on Polygon sidechains are also paid in MATIC tokens.

Who Are the Founders of Polygon?

Polygon (formerly Matic Network) was launched in October 2017. Polygon was co-founded by Jaynti Kanani, Sandeep Nailwal and Anurag Arjun, two experienced blockchain developers and a business consultant. Before moving to its network in 2019, the Polygon team was a huge contributor in the Ethereum ecosystem. The team worked on implementing the Plasma MVP, the WalletConnect protocol and the widely-used Dagger event notification engine on Ethereum.

The team included co-founder of Polygon, Jaynti Kanani. Jaynti, a full-stack developer and blockchain engineer currently serves as the CEO of Polygon. Jaynti played an integral role in implementing Web3, Plasma and the WalletConnect protocol on Ethereum. Prior to his blockchain involvement, Jaynti worked as a data scientist with Housing.com.

Co-founder and chief operations officer of Polygon, Sandeep Nailwal is a blockchain programmer and entrepreneur. Before jointly starting Polygon (formerly Matic), Sandeep had served as the CEO of Scopeweaver, and the chief technical officer of Welspun Group. Anurag Arjun is the only non-programming co-founder of Polygon. As a product manager, he has had stints with IRIS Business, SNL Financial, Dexter Consultancy and Cognizant Technologies.

What Makes Polygon Unique?

Polygon is self-described as a Layer 2 scaling solution, which means that the project doesn’t seek to upgrade its current basic blockchain layer any time soon. The project focuses on reducing the complexity of scalability and instant blockchain transactions. Polygon uses a customized version of the Plasma framework which is built on proof-of-stake checkpoints that run through the Ethereum main-chain. This unique technology allows each sidechain on Polygon to achieve up to 65,536 transactions per block.

Commercially, the sidechains of Polygon are structurally designed to support a variety of decentralized finance (DeFi) protocols available in the Ethereum ecosystem.

While Polygon currently supports only Ethereum basechain, the network intends to extend support for additional basechains, based on community suggestions and consensus. This would makePolygon an interoperable decentralized Layer 2 blockchain platform

How Many Polygon (MATIC) Tokens Are There in Circulation?

MATIC tokens are released on a monthly basis. MATIC currently has a circulating supply of 4,877,830,774 MATIC tokens and a max supply of 10,000,000,000 MATIC tokens. At its initial private sale in 2017, 3.8 percent of MATIC’s max supply was issued. In the April 2019 launchpad sale, another 19 percent of the total supply was sold at $0.00263 per token to generate $5 million. According to the release schedule, all the tokens will be released by December 2022.

How Is the Polygon Secured?

As a Layer 2 solution utilizing a network of proof-of-stake validators for asset security, staking is an integral part of the Polygon ecosystem. Validators on the network will stake their MATIC tokens as collateral to become part of the network’s PoS consensus mechanism and will receive MATIC tokens in return.

Members of the network who do not wish to become validators can delegate their MATIC tokens to another validator, but will still take part in their staking process and earn staking rewards.

In addition to the proof-of-stake checkpointing, Polygon uses block producers at the block producer layer to achieve a higher degree of decentralization. These block producers give finality to the main chains using checkpoints and fraud-proof mechanisms.

Polygon Historical Data – 10 days

Date Open, $ Min, $ Max, $ Market cap, $
Sep 20 0.767038 0.739949 0.767038 6 463 561 182
Sep 21 0.733268 0.697865 0.770438 6 095 376 670
Sep 22 0.704448 0.702951 0.755801 6 559 037 602
Sep 23 0.755822 0.733837 0.776132 6 778 979 680
Sep 24 0.777940 0.755840 0.779481 6 601 749 622
Sep 25 0.754245 0.738149 0.762733 6 491 308 126
Sep 26 0.740643 0.730826 0.756794 6 555 771 262
Sep 27 0.754661 0.732245 0.784217 6 479 814 689
Sep 28 0.740389 0.720212 0.752117 6 542 154 415
Sep 29 0.747183 0.739642 0.751179 6 532 915 104

MATIC/USD Price Charts

MATIC to USD price chart – 7 days
MATIC to USD price chart – 30 days
MATIC to USD price chart – 60 days
MATIC to USD price chart – 6 months

* Crypto Rating accepts no liability for any errors in the Polygon information, MATIC Prices and MATIC's Market Cap. For the most up-to-date prices please visit the Polygon's official website.

Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 84.4% 23 $19 461.08 2.32% 1.73% $372 947 421 190 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 65.6% 71 $1 338.47 2.67% 3.37% $164 063 740 646 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 90.8% 1 $1.000063 0.01% 0% $67 960 467 972 USDT 7 days price change
4 USD Coin (USDC) USDC USD Coin predictions 96% 1 $1.000039 0% -0.01% $48 692 852 875 USDC 7 days price change
5 Binance Coin (BNB) BNB Binance Coin predictions 85.6% 15 $281.85 3.22% 5.15% $45 473 272 487 BNB 7 days price change
6 XRP (XRP) XRP XRP predictions 59.6% 83 $0.440696 2.69% 3.48% $21 991 040 706 XRP 7 days price change
7 Binance USD (BUSD) BUSD Binance USD predictions 90.8% 1 $0.999924 -0.01% -0.03% $21 040 625 882 BUSD 7 days price change
8 Cardano (ADA) ADA Cardano predictions 81.2% 35 $0.436499 0.84% -4.04% $14 945 771 053 ADA 7 days price change
9 Solana (SOL) SOL Solana predictions 79.6% 30 $33.64 3.20% 4.33% $11 934 820 459 SOL 7 days price change
10 Lido stETH (STETH) STETH Lido stETH predictions 92.8% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
11 Dogecoin (DOGE) DOGE Dogecoin predictions 87.6% 16 $0.060348 1.02% 1.96% $8 006 449 796 DOGE 7 days price change
12 Polkadot (DOT) DOT Polkadot predictions 70.8% 55 $6.46 2.17% 0.33% $7 245 669 390 DOT 7 days price change
13 Dai (DAI) DAI Dai predictions 92% 1 $0.999547 -0.01% -0.05% $6 861 465 670 DAI 7 days price change
14 Polygon (MATIC) MATIC Polygon predictions 70.8% 62 $0.747959 2.09% -0.35% $6 532 915 104 MATIC 7 days price change
15 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 93.2% 5 $0.060063 2.18% 0.71% $6 107 005 130 WTRX 7 days price change

News, Promo

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15 Jun 2021
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Polygon committing $10M to reach 1M users using 0x API

The project said it anticipated “an influx of new DeFi projects onboarding into the 0x ecosystem." The network onboarding a large number of decentralized applications...

11 Jun 2021
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Polygon active users grow by 75,000 as DeFi boom continues

Data from DappRadar shows rapid uptake of Polygon-based decentralized applications. The network now has 93 functioning DApps, up considerably over the past four weeks...

18 May 2021

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