Polygon Network (MATIC) What is?
The Polygon Network, formerly known as Matic Network, was first launched in October 2017. It was founded by veteran blockchain developers Jaynti Kanani, Sandeep Nailwal and Anurag Arjun. Polygon’s current CEO is Jaynti Kanani, who has been instrumental in deploying Web3, Plasma and Wallet Connect protocols on Ethereum. Prior to his involvement with blockchain, Jaynti worked as a data scientist with Housing. as well
Polygon Network is a platform that has the main features of scalability. Scalability and Reduce Gas Fee for Ethereum To support the growing number of transactions since Ethereum is like the Internet of Blockchains, Polygon Network designs a computer communication model protocol and framework for building and connecting. Ethereum-compatible Blockchain Network Coming Up
MATIC What can it be used for??
The main goal of creating a Layer 2 replication solution is a sidechain developed parallel chain with Ethereum that allows developers to extend their application DApps to the network to meet the transactional needs of a variety of DApps. can The adaptation of the Layer 2 solution has been funded through the project through IEO funding on Binance Launchpad and Coinbase, which the project seeks to encourage adoption. Cryptocurrencies By solving scalability issues in Blockchain
Its core functionality is the Polygon SDK, a modular and flexible framework. With the Plasma framework, Polygon has the potential to build decentralized applications on unlimited infrastructures. Attract 50+ DApps to the Secure Ethereum Sidechain Polygon Network
The network auditors are required to place their “MATIC Token” as collateral to participate as part of a consensus mechanism known as the PoS system. Get MATIC Token in return
The Polygon Network is structured to support the decentralized finance (DeFi) protocols present in the entire Ethereum ecosystem, in addition to lower gas fees and increased speeds. Therefore, it is not surprising that MATIC has grown exponentially in its user base. And the coin price has grown astoundingly. It is also regarded as the main competitor of Polkadot (DOT), Cosmos (ATOM) and Avalanche (AVAX).
The current market value of MATIC is $5,658,173,602 or about 207,440,161,468 baht, is ranked 15th on Coingecko website and has a circulating supply at 8,006,803,952 MATIC out of 10,000,000,000 MATIC
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