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Polygon (MATIC) - Flexible, Quick, And Secure Blockchain Transactions


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Introduction

Polygon (MATIC) is an Ethereum token that fuels the Polygon Network, a multichain scaling solution for Ethereum. Matic Network, rebranded as Polygon, the ultimate framework for enhancing interoperability between the Ethereum blockchain and compatible networks, has seen a sudden surge in traffic.


According to digitalcoinprice.com, MATIC may be a profitable investment in 2021 and beyond.


According to the company's pricing projections, MATIC tokens could reach $3.05 in 2021, $5.5 in 2025, and $9.41 in 2028. Polygon (previously Matic Network) has seen a more than tenfold gain in market capitalization since February, payable to increased adoption of its blockchain by gaming, non-fungible tokens (NFTs), and DeFi (decentralized finance).


Polygon, a local cryptocurrency startup, has joined the Bitwise 10 Large Cap Crypto Index (BITX), which tracks and weights the performance of the top ten cryptocurrency assets by free-float market capitalization.


What Is So Special About Polygon?

Polygon self-identifies as a Layer 2 scaling solution, implying that it has no immediate plans to improve its present basic blockchain layer. The project is focused on simplifying scalability and enabling instant blockchain transactions.


Polygon makes use of a customized version of the Plasma framework that is based on Ethereum's main chain's proof-of-stake checkpoints. This novel approach enables each Polygon sidechain to process up to 65,536 transactions every block.


Commercially, Polygon's sidechains are structured in such a way that they can support a wide variety of decentralized finance (DeFi) protocols now accessible in the Ethereum ecosystem.


While Polygon now supports only the Ethereum base chain, the network wants to expand its support based on community feedback and consensus. This would make Polygon a decentralized Layer 2 blockchain platform that is interoperable.


What Is the Current Circulation of Polygon (MATIC) Tokens?

Monthly, MATIC tokens are distributed. MATIC tokens have a circulating supply of 4,877,830,774 and a maximum supply of 10,000,000,000.


MATIC released 3.8 percent of its maximum supply during its inaugural private sale in 2017. About 19 percent of the total supply was sold at $0.00263 per token in the April 2019 launchpad sale, raising $5 million.


The remaining MATIC tokens will be divided in the following manner:


• Team tokens account for 16.6% of the total supply.

• Advisors tokens account for around 4% of the entire supply.

• Tokens for Network Operations account for about 13% of the overall supply.

• Tokens issued by the Foundation account for 21.86 percent of the total supply.

• 23.33 percent of the total supply is ecosystem tokens.

• All tokens will be issued by December 2022, according to the distribution timeline.


How is the Polygon Sustainably Secured?

Staking, as a Layer 2 solution that secures assets through the use of a network of proof-of-stake validators, is a vital aspect of the Polygon ecosystem. Holders on the network will stake their MATIC tokens as collateral to join the network's PoS consensus mechanism in exchange for MATIC tokens.


Members of the matic network who do not wish to become holders can delegate their MATIC tokens to another holder while participating in the staking process and earning staking rewards.


Along with proof-of-stake checkpointing, Polygon employs block producers at the block producer layer to increase decentralization. By utilizing checkpoints and fraud-proof procedures, these block producers ensure the finality of the main chains.


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