Polygon (MATIC) 101: Discover the Fast and Secure Blockchain
Zatrun Published at December 20, 2023

Polygon (MATIC) is a platform designed to work with the Ethereum blockchain, making it more scalable. Due to its connection to another blockchain, it is often referred to as a layer-2 blockchain or a sidechain. However, the MATIC coin provides a complete framework that developers can use in many ways.

With high transaction speeds, low costs, and excellent security, Polygon has achieved significant growth. In just six months from October 2021 to April 2022, the number of decentralized applications (Dapps) on the network increased from 3,000 to 19,000. If you want to learn more about the project, this guide is for you.

What is Polygon and How Does It Work?

The primary reason for Polygon’s popularity is its connection to Ethereum. Ethereum was the first blockchain with smart contracts and is currently the most popular blockchain network. However, this popularity has resulted in congestion with slow and expensive transactions. While many Ethereum competitors have emerged, Polygon has taken a different approach. Rather than positioning itself as an “Ethereum killer,” it has developed solutions that make it work faster.

Polygon (MATIC)

The project’s “Proof-of-Stake” sidechains allow Ethereum applications to process transactions quickly and cheaply, with a processing capacity of 65,000 transactions per second. The “Edge” application allows developers to create customizable Ethereum-compatible blockchains, and the assets on these blockchains can be transferred to any Ethereum-compatible network. “Hermez” collects multiple transfers in a single transaction using ZK aggregation to increase efficiency.

What is MATIC? Is It a Good Investment?

MATIC coin is the native cryptocurrency of Polygon. This cryptocurrency works as a governance token that gives owners voting rights. Additionally, it is used to pay transaction fees and secure the network in Polygon’s Proof-of-Stake system. Users who stake MATIC coin passively earn returns and ensure decentralization by voting on the network.

Polygon has partnered with giant companies such as Meta and Disney. Meta aims to integrate NFTs into social media platforms soon, and according to the partnership, NFTs in MATIC coin can be used on these social media platforms. Additionally, the ecosystem is becoming increasingly independent of Ethereum. The number of Dapps hosted only in MATIC coin is increasing year by year. Therefore, the cryptocurrency can be a good long-term investment.

Follow the developments in the crypto world. What would you like us to inform you about?