About Polygon
Polygon was formerly called Matic Network. Polygon (MATIC) is an Ethereum token that powers the Polygon Network, a scaling solution for Ethereum. Polygon aims to provide faster and cheaper transactions on Ethereum using Layer 2 sidechains, which are blockchains that run alongside the Ethereum main chain. Users can deposit Ethereum tokens to a Polygon smart contract, interact with them within Polygon, and then later withdraw them back to the Ethereum main chain. The MATIC token is used to pay transaction fees and participate in proof-of-stake consensus.
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Trading Insights
Searched
154
Market Stats
Market Cap
Not enough data
FDV
Not enough data
Circ. Supply
Not enough data
Max Supply
10B MATIC
Total Supply
10B MATIC
Diluted Valuation
R$9.85B
Performance
Popularity
#9,999,999
Dominance
Not enough data
Volume (24H)
R$641.59K
Volume (7D)
Not enough data
Volume (30D)
Not enough data
All time high
R$0.61
Price Change (1Y)
Not enough data
78.58%
Additional details
Market details
MATIC vs markets
↘ 76.83%
MATIC vs BTC
↘ 77.16%
MATIC vs ETH
↘ 75.85%
Tags
Network & Addresses
Network | Address | |
|---|---|---|
Ethereum | 0x7D1AfA7B718fb893dB30A3aBc0Cfc608AaCfeBB0 | |
Polygon | 0x0000000000000000000000000000000000001010 | |
Solana | C7NNPWuZCNjZBfW5p6JvGsR8pUdsRpEdP1ZAhnoDwj7h | |
BNB Smart Chain | 0xCC42724C6683B7E57334c4E856f4c9965ED682bD |
Price history
Time | Price | Change |
|---|---|---|
Today | R$0.59 | |
1 Day | R$0.61 | |
1 Week | R$0.66 | |
1 Month | R$0.71 | |
1 Year | R$3.10 |
FAQ
Polygon, formerly known as Matic Network, is a platform designed to enhance the scalability and usability of Ethereum-based applications. It functions as both a sidechain and a Layer-2 scaling solution, enabling faster and more cost-effective Ethereum transactions by operating alongside the Ethereum main chain. Polygon transforms Ethereum into a multi-chain system, similar to platforms like Polkadot, Cosmos, and Avalanche, while maintaining the benefits of Ethereum’s security and ecosystem. The Polygon Software Development Kit (SDK) serves as the platform’s core component, providing developers with a flexible framework for creating a wide range of decentralized applications. The native token, MATIC, is used to pay transaction fees and participate in the network's proof-of-stake consensus mechanism.
Polygon leverages a combination of the Plasma Framework and a proof-of-stake blockchain architecture to address Ethereum's scalability challenges. The Plasma Framework, co-developed by Ethereum co-founder Vitalik Buterin, enables scalable and autonomous smart contract execution. Polygon’s architecture supports high transaction throughput on its sidechains, achieving block confirmation times of under two seconds. This allows for the deployment of numerous decentralized applications (DApps) without the congestion and high costs associated with proof-of-work blockchains. Users can interact with the Polygon network through multi-chain wallets like Coinbase Wallet, using the Polygon Bridge to transfer Ethereum assets and manage balances across different networks.
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