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How to Stake Polygon
Polygon is currently available to stake on Coinbase’s centralized exchange, subject to locations where staking is allowed.
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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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Not enough data
$1.92B
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10B MATIC
10B MATIC
$1.92B
#9,999,999
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$81.41K
-38.89%
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$0.21
-47.43%
MATIC vs markets
↘ 67.74%
MATIC vs BTC
↘ 67.34%
MATIC vs ETH
↘ 65.21%
Tags
Network | Address | |
---|---|---|
Ethereum | 0x7D1AfA7B718fb893dB30A3aBc0Cfc608AaCfeBB0 | |
Polygon | 0x0000000000000000000000000000000000001010 | |
Solana | C7NNPWuZCNjZBfW5p6JvGsR8pUdsRpEdP1ZAhnoDwj7h | |
BNB Smart Chain | 0xCC42724C6683B7E57334c4E856f4c9965ED682bD |
Time | Price | Change |
---|---|---|
Today | $0.19 | ↘ 1.99% |
1 Day | $0.20 | ↘ 1.77% |
1 Week | $0.23 | ↘ 17.70% |
1 Month | $0.26 | ↘ 25.37% |
1 Year | $0.37 | ↘ 47.43% |
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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Terms apply. Sum of median estimated savings and rewards earned, per user in 2021 across multiple Coinbase programs (excluding sweepstakes). This amount includes fee waivers from Coinbase One (excluding the subscription cost), rewards from Coinbase Card, and staking rewards.
Trending articles
Popularity in posts
#362
Contributors
326
Posts
550
% About Polygon
0.073%
Hold times
0 days
X (Twitter)
19.74% bullish
Sentiment
3.9 ★
Highlights
326 unique individuals are talking about Polygon and it is ranked #362 in most mentions and activity from collected posts. In the last 24 hours, across all social media platforms, Polygon has an average sentiment score of 77 out of 5. Finally, Polygon is becoming less newsworthy, with 0 news articles published about Polygon.
On Twitter, people are mostly neutral about Polygon. There were 20.48% of tweets with bullish sentiment compared to 3.75% of tweets with a bearish sentiment about Polygon. 79.52% of tweets were neutral about Polygon. These sentiments are based on 974 tweets.
On Reddit, Polygon was mentioned in 1 Reddit posts and there were 0 comments about Polygon. On average, there were less upvotes compared to downvotes on Reddit posts and more upvotes compared to downvotes on Reddit comments.
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Analysis
By market capitalization and users, Polygon is one of the most popular scaling solutions for Ethereum. It caters to diverse use cases and is renowned for its rapid, cost-effective transactions.
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Polygon faces considerable competition from other networks aiming to solve similar challenges, which could dilute its presence in the market.
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Coinbase Bytes
Nov 08, 2023
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