About Polygon (MATIC)
If you are interested in MATIC or Polygon, this is a page where we will answer all your questions. As you may know, the price of Polygon is appealing, which makes it an interesting piton when it comes to investments. But, the technology and the cryptocurrency here make Polygon appealing to use as well.
Another thing some of you may know is that Polygon is a platform and a cryptocurrency. The platform is used to allow different blockchain networks to scale and also improve flexibility. Security will be maintained at all times. The cryptocurrency here can be used to pay the fees that are applicable when using the platform. This is similar to many other projects of this kind. This also makes Polygon price a bit similar to other projects of the same kind.
The token here with the symbol MATIC is based on ERC-20 technology. This makes it compatible with all other tokens that are based on the same technology.
How Does Polygon Work?
The value of this platform is in the fact it has many levels. It uses a massive number of sidechains, and the goal of these is to make the main platform unclogged. This also means that the main platform will become more efficient and affordable. It is one of the reasons why so many projects have opted for Polygon and why this platform has become more and more popular.
Just to clarify. The sidechains are additional blockchains that are linked to the main blockchain. They support countless Decentralized Finance protocols, also known as DeFi, and these are available in Ethereum. There are similar networks out there. Some examples are Cosmos, Polkadot, and Avalanche.
The platform uses a software development kit or SDK, and the same thing has been used for building decentralized applications that were created for Ethereum. There is no need to add that the Polygon blockchain is based on the Ethereum blockchain at this point.
As we have mentioned earlier, this platform uses a lot of blockchains. Some are main, and some are side blockchains. Proof of Stake is the main one here. It is a new type of blockchain that has been with us for a few years. It is more efficient and more appealing to use than conventional ones. This is another reason why Polygon price USD is a bit higher than average. The PoS is used to allow users to validate the transactions, generate tokens, and at the same time, vote on future improvements and upgrades of the entire network.
Polygon Price Today
At this point, it is nice to check the price history and see the basics. If you already know the obvious, and we hope you do, you can deduce that MATIC has a price that goes up and down all the time. This is known and similar to all cryptocurrencies. The real question here is, what makes the price change?
The main thing that affects the cost of MATIC is supply and demand. In basic terms, this means that if more people use MATIC the price will go up. If fewer people use it, the price will go down. The current Polygon price tells us that a lot of users have been using this cryptocurrency.
Another thing that can affect the cost and the price is the future. What this means is that if Polygon is accepted by more industries, businesses, and even countries, the ecosystem will become bigger, and the price will become higher. The stock will rise as well.
Where is Polygon Used Now?
At this stage, you may want to know about the stock chart and also learn how and where Polygon is used. This is a cryptocurrency, basically, so you can use it for countless purposes. For instance, you can send and receive MATIC if you like. There are some merchants who will accept MATIC as well. This means that you can make payments using this cryptocurrency. If you are planning on using it for this purpose, keep in mind that you will need an e-wallet.
The all time high of Polygon was $2.92. This is similar to some other cryptocurrencies that are based in a similar way. One difference here is that MATIC is not designed to be used on some closed ecosystem and to be used for just one purpose. It is designed to be better than Ethereum actually, and as such, it is a versatile cryptocurrency.
Who Created Polygon?
The platform we have here was released in 2017. The official name back then was Matic Network. It was known and still is known as “Ethereum’s Internet of Blockchains” due to the base or the core of the platform and how it works. There were 4 people involved in the creation, and all of them were software engineers. That being said, MATIC was created by Mihailo Bjelic, Sandeep Nailwa, Jaynti Kanani, and Anurag Arjun.
The name we mentioned here was successfully changed back in 2021 to Polygon Technology. This was also the time when the brand expanded massively and became better known. They bought Hermez Network the same year for $250 million. Then they bought Mir blockchain. The price was $400 million at the time. The goal was to get details and specifics about rollup technology. It is worth noting that Donald Trump has NFTs released in 2022 that use Polygon technology to mine.
How to Buy Polygon (MATIC)?
It is easy to get the Polygon to USD value and details. But this also means that you need to buy the cryptocurrency first. So, how you can do that? There are a couple of methods, and we will reveal all of them and explain each one.
It is always easy to Polygon price today and go to the exchange site and buy it. You can use all major platforms, such as Binance, Coinbase, and many others. MATIC is extremely popular, so you can find it all over the web at exchange sites. You will buy it and transfer it to your e-wallet so you can make payments, send MATIC, and more.
Swap the cryptocurrency
Another method you can use is to swap the cryptocurrency with another person. This is done in the same way as with any other cryptocurrency you may have. All you have to do is to send MATIC to the person, and he will send you another cryptocurrency. Check the live price for details before you do this.
If you check the price now and you like what you see, you can get this cryptocurrency using a crypto ATM. These are available in most large cisiti4es all over the world, and you can use one to buy MATIC. You will transfer it to your e-wallet, and you can use it immediately. The method has been used by millions, and it is one of the most appealing options you have at your disposal when it comes to buying cryptocurrencies.
Is Polygon Using Mining?
This cryptocurrency uses proof-of-stake rather than Proof-of-Work. What this means is that mining is not an option, and you cannot earn cryptocurrency via this method. On the other hand, you can participate and use a validator node and generate MATIC in that way.
Mining has been a huge deal for years, and it is still an appealing and interesting method people have been using to generate cryptocurrencies. The goal here is to allow the network to use your GPU power or the processing power of your graphics card. Then you just leave the computer turned on, and you can generate. There is a graph where you can see how much you have mined or earned.
These computers are not ordinary PC machines. They have over 4 graphics cards, and they are used for mining only. They are not used for anything else. The exact term here is mining rig, and we can see some of them reaching impressive values online. Yes, you can buy a new one if you like. People have been using various chart methods to calculate how much they will invest and how much they will earn.