Bitcoin
BTC$29 906.45

1.19%

Ethereum
ETH$2 006.73

1.31%

Tether
USDT$0.998861

0.02%

USD Coin
USDC$1.000391

0.01%

Binance Coin
BNB$316.79

1.33%

XRP
XRP$0.417070

0.10%

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 89
Current price $0.658449
Change 24h 0.68%
Change 7d -4.84%
Market Cap $5 235 239 721
Available supply 7 950 866 567 MATIC
Volume 24h $343 166 656
Updated Sunday, May 22, 2022 5:00:06PM UTC
Nature Token
Mineable No
Discussion
WWW Website

Polygon price change 24 hours

Polygon Short Term Forecast

After Price Change
1 day $0.629886 -4.34%

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, $
May 13 0.601850 0.601850 0.738412 5 465 671 255
May 14 0.667663 0.625236 0.703698 5 398 930 734
May 15 0.687012 0.663252 0.731271 5 812 778 748
May 16 0.736694 0.665089 0.736694 5 457 151 457
May 17 0.677554 0.677554 0.725215 5 757 759 365
May 18 0.727048 0.642676 0.728678 5 134 128 746
May 19 0.627790 0.616750 0.662294 5 129 706 940
May 20 0.658799 0.624970 0.676130 5 058 888 612
May 21 0.636660 0.630217 0.653998 5 145 660 970
May 22 0.649365 0.644460 0.672166 5 235 239 721

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 59.2% 84 $29 906.45 1.19% -0.93% $569 615 124 749 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 59.2% 88 $2 006.73 1.31% -3.60% $242 575 430 000 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 94% 1 $0.998861 0.02% 0% $73 191 653 422 USDT 7 days price change
4 USD Coin (USDC) USDC USD Coin predictions 95.2% 1 $1.000391 0.01% 0% $53 095 646 398 USDC 7 days price change
5 Binance Coin (BNB) BNB Binance Coin predictions 56% 88 $316.79 1.33% 4.98% $51 725 100 830 BNB 7 days price change
6 XRP (XRP) XRP XRP predictions 57.6% 89 $0.417070 0.10% -2.43% $20 162 437 867 XRP 7 days price change
7 Binance USD (BUSD) BUSD Binance USD predictions 94.8% 1 $0.999756 -0.07% -0.22% $18 513 212 786 BUSD 7 days price change
8 Cardano (ADA) ADA Cardano predictions 56% 91 $0.535071 0.10% -4.15% $18 052 780 745 ADA 7 days price change
9 Solana (SOL) SOL Solana predictions 60.8% 88 $51.57 2.05% -5.27% $17 496 824 554 SOL 7 days price change
10 Dogecoin (DOGE) DOGE Dogecoin predictions 58% 92 $0.085116 0.07% -5.10% $11 292 451 422 DOGE 7 days price change
11 Polkadot (DOT) DOT Polkadot predictions 58.4% 87 $10.08 0.86% -9.13% $9 955 703 739 DOT 7 days price change
12 Avalanche (AVAX) AVAX Avalanche predictions 58.8% 90 $31.39 4.58% -10.83% $8 448 611 482 AVAX 7 days price change
13 Wrapped Bitcoin (WBTC) WBTC Wrapped Bitcoin predictions 63.2% 84 $29 892.78 1.26% -0.99% $8 268 429 569 WBTC 7 days price change
14 TRON (TRX) TRX TRON predictions 72.8% 53 $0.076139 2.55% 10.86% $7 366 589 571 TRX 7 days price change
15 Dai (DAI) DAI Dai predictions 96% 1 $1.000541 -0.05% 0.02% $6 532 230 569 DAI 7 days price change

News, Promo

MATIC
Polygon launches a zk-STARK scaling solution for DApp deployment

The move is expected to improve the validation process for DApps on the Polygon network. Polygon, a layer two scaling solution for Ethereum compatible blockchains...

17 Nov 2021
MATIC
Altcoins bag double-digit gains as Bitcoin price approaches $37,000

MATIC, SUSHI and CAKE soar after Bitcoin bulls finally press the price above the $35,000 resistance. Cryptocurrency prices surged on June 29 as Bitcoin (BTC) price...

30 Jun 2021
MATIC
VORTECS Report: When this indicator lights up, LUNA, MATIC and EGLD usually gain 10%

Compounding modest gains is a key strategy for successful crypto traders — LUNA doesn't have to go to the moon to help profits rocket. Consistency is not generally...

15 Jun 2021
MATIC
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
MATIC
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

Be the first to receive Cryptocurrency Price Predictions and Forecasts daily

Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.

© 2015-2022 Crypto-Rating.com

The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.