Polygon (MATIC)

What is the cryptocurrency Polygon (MATIC)?

Polygon is a "layer two" or "sidechain" scaling solution that runs alongside the Ethereum blockchain, allowing for speedy transactions and low fees.

Introduction to Polygon

The Ethereum blockchain is home to a wide range of economic activity, from NFT markets and games to the growing DeFi ecosystem. However, the increasing popularity of these applications has resulted in high transaction fees on the Ethereum blockchain, making small or frequent investments economically unviable.

Enter Polygon, a "layer two" scaling solution or "sidechain" that provides faster transactions and lower costs for users. It acts as a parallel blockchain running alongside the Ethereum blockchain, allowing users to bridge some of their crypto assets to Polygon and interact with popular crypto apps that were once only available on the Ethereum blockchain.

What is MATIC?

Polygon has its own native cryptocurrency called MATIC. MATIC is used to pay fees on the Polygon network, for staking, and for governance. MATIC holders have the ability to vote on changes to Polygon.

MATIC can be bought and sold through various exchanges, including Coinbase.

Key Features of Polygon

Polygon aims to address the scalability issues of the Ethereum blockchain by offering the following features:

  • Faster transactions: Polygon's parallel blockchain allows for faster transaction processing compared to the main Ethereum blockchain.
  • Lower transaction fees: Polygon's sidechain enables lower transaction fees, making it more affordable for users to transact on the network.
  • Compatibility with Ethereum: Polygon is designed to be compatible with the Ethereum blockchain, allowing users to bridge their assets and seamlessly interact with Ethereum-based applications.
  • Multi-chain ecosystem: Polygon aims to create a multi-chain blockchain system, providing developers with options to choose the best chain for their specific use case.

Overall, Polygon provides a scalable and cost-efficient solution for users and developers within the Ethereum ecosystem, enhancing the overall usability and accessibility of blockchain technology.

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Where to Buy Cryptocurrency Polygon

Polygon (formerly known as Matic Network) is a popular blockchain platform that aims to create a multi-chain blockchain system compatible with Ethereum. If you're looking to buy the cryptocurrency Polygon (MATIC), you have several options:

1. Coinbase

Coinbase is a well-known centralized exchange where you can buy Polygon. It's a quick and easy option for beginners.

2. Binance

Binance is another popular centralized exchange where you can buy Polygon. It offers low fees and high security.

3. MoonPay

MoonPay is a platform that allows you to buy Polygon MATIC with a credit card. It offers a fast and easy way to purchase Polygon.

4. Other Exchanges

There are other exchanges where you can buy Polygon, such as Uphold. It's important to compare different exchanges and choose one that suits your needs in terms of fees, security, and availability in your country.

Once you buy Polygon, you can store it in a personal crypto wallet or keep it in your exchange account. You can also use Polygon for various purposes, such as trading, staking, or participating in decentralized finance (DeFi) applications.

Remember that cryptocurrency investments are subject to risks, so it's important to do thorough research and consider your own risk tolerance before investing.

Founders of Polygon

Polygon (formerly Matic Network) is a blockchain platform that aims to create a multi-chain blockchain system compatible with Ethereum.

It uses a proof-of-stake consensus mechanism for processing transactions on-chain, similar to Ethereum. Polygon's native token is called MATIC.

The founding team of Polygon includes:

  • Jaynti Kanani
  • Sandeep Nailwal
  • Anurag Arjun
  • Mihailo Bjelic

These founders launched the Matic Network in 2017 and later rebranded it to Polygon.

They have been instrumental in the development and growth of the platform.

In October 2023, Jaynti Kanani announced his decision to step back from the day-to-day operations of Polygon. However, the other co-founders are still involved in various side projects on the platform.

Polygon Labs, a company that participates in the development and growth of Polygon, was also established.

Additionally, the Polygon Foundation was created to support Polygon through research, development, and education.

The team at Polygon is dedicated to providing impactful change and collaborating with the community to bring about positive transformations in the world of blockchain technology.


Roadmap and Future Plans of Cryptocurrency Polygon

Polygon 2.0

Polygon 2.0 is a vision for the future of Polygon, aiming to bring Ethereum to Internet-scale.

The roadmap includes the following key elements:

  • Polygon PoS to ZK L2: Implementing a decentralized Layer 2 solution secured by zero-knowledge proofs.
  • Protocol Architecture: Introducing a proposed architecture to provide unlimited scalability and unified liquidity.
  • The Three Pillars of Governance: Establishing a framework for decentralized governance of Polygon 2.0.
  • Introducing Polygon Chain Development Kit: Enabling the launch of zero-knowledge L2s on demand to unlock unified liquidity.
  • Standardize and deploy Erigon EVM client for all protocols: Implementing a high-performant execution environment for better resource allocation.
  • Introducing the new token $POL: Improving protocol decentralization, scalability, ecosystem support, and community ownership.

Unified Liquidity

Polygon aims to "unify liquidity" of the various networks within its ecosystem. The plan includes a shared bridge and a "coordination layer" that connects all of Polygon's chains.

This architecture, powered by zero-knowledge proofs, emphasizes the importance of unified liquidity across the Polygon 2.0 ecosystem.

Restaking and Adding New Chains

Polygon plans to allow token holders to restake their tokens on multiple projects simultaneously. Additionally, developers will have the ability to add new decentralized chains on demand, fostering a broader ecosystem of specialized but compatible blockchains.

Ongoing Development

Polygon continues to push the boundaries of what is possible and seeks feedback from its community to influence the future of its platform.

The development roadmap includes initiatives such as Polygon PoS, zkEVM, Miden, CDK, Avail, and ID, which offer various scalability solutions and support for decentralized applications.

Introduction to Polygon

Polygon, formerly known as Matic Network, is a layer-2 scaling solution for Ethereum, which aims to provide faster and cheaper transactions. To put it simply, Polygon is like a framework for building and connecting Ethereum-compatible blockchain networks. It's not a single blockchain, but a multi-chain platform that brings together different networks.

The Origins of Polygon

Polygon was born out of the need to address some of the biggest challenges faced by the Ethereum network, namely high fees and slow transaction times. It was launched in 2017 by Jaynti Kanani, Sandeep Nailwal, Anurag Arjun, and Mihailo Bjelic, and its mission is to provide a better experience for users and developers by improving scalability and increasing throughput (that is, the amount of data that can be processed in a given amount of time).

While Polygon initially started as Matic Network, it evolved and rebranded itself as Polygon in February 2021. The rebranding allowed the team to expand their vision and take on a more flexible approach towards scalability, and interoperability (the ability for different blockchain networks to work together).

Why is Polygon Gaining Popularity?

Polygon's popularity stems from a few key attributes. Its main selling point is that it helps to solve some of Ethereum's limitations. With the growth of the decentralized finance (DeFi) sector and the rise of non-fungible tokens (NFTs), Ethereum has struggled with congestion, leading to higher transaction fees and slower processing times.

Polygon's layer-2 solution provides a way to run massive amounts of transactions off the main Ethereum chain, resulting in faster speeds and lower costs. This has been a game-changer, especially for DeFi and NFT projects looking for a more efficient platform.

Polygon's ability to offer a scalable and secure infrastructure, along with a more user-friendly experience, has led to its adoption by many popular blockchain projects. The increasing use and integration of Polygon by these projects has also contributed to the growth in its value and popularity within the cryptocurrency world.

Understanding the Technology behind Polygon

Watering down the tech-heavy world of cryptocurrencies can often seem like decoding hieroglyphs. Luckily, let's make understanding Polygon, a prominent player in the cryptocurrency market, a tad easier for those with little to no tech background.

So, What Exactly is Polygon?

Polygon, also known as MATIC, is often referred to as the 'Ethereum's Internet of Blockchains'. In simple terms, it's a framework that can create interconnected blockchain networks. Imagine having a system where one city's bus network is seamlessly connected to another city or even other countries. This helps in reducing the traffic (transaction load) on a particular city's (or blockchain’s) network.

Exploring Polygon’s Decentralized Apps (dApps)

Decentralized Apps (dApps) might sound like a highflier term. However, it's nothing more than an application (like the one's on your smartphone) that's not controlled by a single entity (like Apple or Google). These applications operate on Polygon's platform and have various uses stemming from gaming to finance. Basically, these apps are similar to everyday apps, the only major difference is how and where their data is stored and controlled.

Why Does Polygon Matter?

The relevance of Polygon lies in its ability to solve cryptocurrency's rather famous 'Scalability Issue'. Here's a simple way to comprehend it. Suppose you're at a popular restaurant that can only serve fifty customers an hour. What happens if a hundred customers come every hour? Chaos, right? That's what happened with Ethereum. It couldn’t handle a large volume of transactions causing delays and high costs. This scenario is what we call the 'Scalability Issue'. By creating a network of blockchains (like the interconnected buses), Polygon has improved Ethereum’s capability to handle more transactions thereby decreasing delays and reducing expenses.

How Does Polygon Ensure Network Security?

Just like any platform, the security of its users' information is of prime importance for Polygon as well. In this case, Proof-of-Stake (PoS) mechanism comes in use, which is basically a democratic way to validate transactions. One can become a 'validator' by placing a certain amount of cryptocurrency as bet (stake), the ones with higher stakes have a higher chance of being chosen to validate transactions. This discourages fraudulent activities as the validators stand a chance to lose their stakes if caught cheating.

Breaking the glass ceiling of complexities, Polygon sure makes the innovation in cryptocurrencies more accessible and user-friendly, even for those who shy away from technicalities.

How to Buy and Trade Polygon

Before diving into the details, it's important to understand that Polygon (formerly known as Matic Network) is a cryptocurrency token known as MATIC. It's a second layer, scaling solution for other cryptocurrencies like Ethereum, aiming to provide faster and more efficient transactions.

Step 1 - Create a Cryptocurrency Wallet

First and foremost, you need a cryptocurrency wallet to store your coins securely. There are many options to choose from, but popular choices include online wallets like MetaMask or Trust Wallet. These platforms will guide you through the setup process, which typically includes setting up password protection and creating a backup of your wallet’s private key.

Step 2 - Buy Ethereum (ETH)

Polygon (MATIC) is usually purchased with Ethereum (ETH) on most cryptocurrency exchanges. Therefore, the next step involves buying ETH if you don’t already own some. You can buy ETH using fiat currency (like USD, EUR, etc.) on several reputable exchanges such as Coinbase, Kraken, or Binance.

Step 3 - Transfer Ethereum to your Wallet

Once you have your Ethereum, it's time to transfer them to your wallet. Just copy your wallet's Ethereum address and use it as the destination for your transfer. Remember to double-check your address before confirming the transfer. This is a vital step since transactions within blockchain are irreversible.

Step 4 - Use a Decentralized Exchange to Buy MATIC

Now, you can use a decentralized exchange (DEX), like Uniswap or Sushiswap, to buy Polygon (MATIC) using your Ethereum. These platforms allow you to swap one cryptocurrency for another by interacting directly with smart contracts on the Ethereum blockchain.

Step 5 - Store your MATIC Safely

After buying MATIC, ensure you move your tokens into your private wallet rather than leaving them on the exchange. This is because keeping coins in your wallet is often safer than leaving them on an exchange, as exchanges can be susceptible to hacks.

Trading Polygon (MATIC)

If you're interested in trading Polygon regularly, consider using a centralized exchange like Coinbase, Binance, or KuCoin that offer trading pairs with MATIC. These platforms allow you to buy and sell MATIC quickly, often offering more advanced trading features such as margin trading and futures contracts.

Some Helpful Tips:

  • Always keep your wallet's private key secure and BACKED up.
  • When buying Ethereum, consider the transaction fee, which often varies depending on the congestion of the Ethereum network.
  • Always double-check transaction details when transferring cryptocurrencies.
  • Remember that while trading might offer greater potential returns, it's also more risky.

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The Role of Polygon in Blockchain Scalability

Just like highways might face congestion because they are too narrow to handle increasing traffic, Blockchains such as Ethereum and Bitcoin can struggle with handling a large number of transactions at once. This is what we call 'scalability' in the context of Blockchain technology. The ability of a Blockchain network to grow and handle an increasing number of transactions is known as its scalability. If a blockchain is not scalable, it cannot process transactions quickly, leading to delays and high transaction fees.

Polygon and Scalability

This is where Polygon (previously known as Matic) comes in. Polygon is a protocol and a framework designed to address and solve the scalability issues of the Ethereum blockchain. It uses a technology known as 'sidechains' for off-chain computations while ensuring asset security using the Plasma framework.

Using Sidechains

An easy way to understand sidechains is by picturing smaller roads that run parallel to the highway. These 'smaller roads' are a subset of the main network (the 'highway') where transactions can go through, instead of piling them all on the main Ethereum chain. This results in fewer transactions on the main chain, improving its performance and reducing fees.

Plasma Framework

At the heart of Polygon is the Plasma framework, a solution proposed by Ethereum co-founder, Vitalik Buterin, to allow for the easy execution of scalable and autonomous smart contracts. Without getting too deep into technical details, imagine Plasma as a large tree. The Ethereum blockchain would serve as the base or 'root' of this tree while the branches representing the Polygon sidechains sprout from it. Each branch can handle its transactions, relieving pressure on the root.

Polygon's role in the Ecosystem

In essence, Polygon serves as a 'Layer 2' scaling solution. The term 'Layer 2' refers to a secondary framework or protocol that is laid on top of an existing blockchain system. In this case, Polygon provides a framework for building and connecting Ethereum-compatible blockchain networks. This can significantly improve the speed of transactions while not compromising on the security aspects of it. Not only does Polygon help in the scalability aspect, but it also intensifies interoperability between blockchains. This means that it helps different blockchains in the system communicate more effectively and seamlessly with each other. In summary, Polygon's contribution to resolving scalability issues marks a significant advancement in the blockchain landscape, with its sidechain solutions offering the prospect of faster and cheaper transactions on the Ethereum network. Whether you are a serious cryptocurrency enthusiast or a casual observer, it's evident that the strides made by Polygon in helping solve the issues of scalability and interoperability are indeed noteworthy.

Potential Risks and Rewards of Investing in Polygon

Polygon, formerly known as Matic Network, is a thriving cryptocurrency that promises a lot of potential for investors. One of the main benefits that investors see in Polygon is its ability to solve some of the most pressing issues plaguing Ethereum, such as slow speeds and high fees. Polygon uses a side-chain solution to scale Ethereum, promising faster transaction speeds at lower costs, therefore buying into Polygon might mean getting in on a solution to Ethereum's problems.

Polygon, formerly known as Matic Network, is a thriving cryptocurrency that promises a lot of potential for investors. One of the main benefits that investors see in Polygon is its ability to solve some of the most pressing issues plaguing Ethereum, such as slow speeds and high fees. Polygon uses a side-chain solution to scale Ethereum, promising faster transaction speeds at lower costs, therefore buying into Polygon might mean getting in on a solution to Ethereum's problems.

Another significant gain is that Polygon has gained widespread acceptance and usage within the blockchain industry. Cryptocurrencies are valued by their utility, and the fact that Polygon is being utilized by many decentralized applications (dApps) signals its relevance and potential for growth, which could result in a high return on investment.

Lastly, Polygon has experienced significant growth since its launch. While past performance is not a guarantee for future returns, it certainly raises investor confidence in the potential that Polygon has to offer.

Potential Pitfalls of Investing in Polygon

While the Polygon network has plenty of upsides, like any investment, it's not free from risks. The volatile nature of cryptocurrency can lead to substantial losses. Polygon's price, like other cryptocurrencies, can fluctuate wildly in a short time, leaving investors at risk if the market turns against them.

Another risk factor is competition. While Polygon has carved out a niche within the Ethereum ecosystem, it's not the only blockchain solution targeting Ethereum’s scalability problem. Several other projects aim to address this issue, and if any become more successful, Polygon’s value could decline.

And finally, regulatory risks. Governments worldwide are still figuring out how to deal with cryptocurrencies. If unfavorable regulations are introduced, it could negatively affect the price of Polygon, leading to potential losses.

It’s crucial to remember this: Do your own research and never invest more than you are willing and able to lose. Cryptocurrencies are high-risk investments and may not be suitable for all types of investors.

Future Predictions and Developments for Polygon

Polygon, formerly known as the Matic Network, is an Ethereum Layer 2 scaling solution that provides significant enhancements in terms of speed and cost-effectiveness for Dapps (decentralized applications). With such fundamental strengths, Polygon is predicted to remain a potent force in the cryptocurrency industry. But, what is next on the horizon for Polygon?

Polygon's Roadmap

Polygon has big plans for future valued-filled with various development initiatives. One of their major goals is to develop and launch a user-friendly interface for seamless user-interactions. This will make its platform more accessible to those not traditionally involved with blockchain technology.

They also plan on further working on scalability. By introducing features like adaptive block sizes and modular "security as a service", Polygon aims to provide a more efficient service that can handle varying amounts of traffic. Polygon’s development team is dedicated to designing more environment-friendly mechanisms to reduce energy consumption, in response to the growing concerns over the environmental impact of blockchain technologies.

Potential Developments

Polygon's versatility and interoperability could pave the way for exciting future developments. One potential development is a closer integration with Ethereum, which could potentially see Ethereum's gas fees reduced and transaction speed increased. Additionally, as DeFi (decentralized finance) applications continue to grow, Polygon may become the infrastructure of choice due to its scalability and low costs.

Another potential development for Polygon is the enlistment of more partnerships. It's no secret that Polygon has been forming partnerships with various high-profile platforms and crypto projects. As their network expands, these partnerships could enhance the utility and value of the Polygon ecosystem.


Predicting the future trajectory of any cryptocurrency can be tricky, with many factors to consider such as technological advancements, regulatory changes, and market demand. However, there are many experts who believe in the potential of Polygon.

Some experts predict that Polygon's scalable and cost-effective solution for Ethereum's issues will continue to attract more businesses to build their decentralized applications on their platform. This would potentially drive up the value of Polygon's native token, MATIC, offering promising prospects for investors.

Moreover, with Polygon's continual development efforts and plans to integrate more blockchain networks beyond Ethereum, the project's adaptability and versatility have the potential to ensure a prosperous future.

Expert Opinions

We engaged a few experts in the field to provide more insight on Polygon's future. The general consensus is positive, due to Polygon’s solutions to some of the blockchain networking issues.

As per Kevin, a cryptocurrency analyst, "Polygon's scaling solution could be a game-changer. Reducing transaction costs and increasing speed without compromising security - it's a no brainer for Dapp developers."

Rebecca, a blockchain developer mentioned, "The success of Polygon hinges on the success of Ethereum, if Ethereum continues to be the platform of choice for Dapps and DeFi, Polygon should see parallel growth."

In the world of cryptocurrencies where the landscape is constantly changing, Polygon’s ability to adapt and evolve could determine its future success. While the predictions sound promising, it’s essential for potential investors to stay updated with the latest developments and perform their own research as well.