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.

Polygon’s flexible infrastructure supports a wide array of use cases in the decentralized ecosystem. Developers can build optimistic rollup chains, ZK rollup chains, standalone chains, or other custom infrastructures tailored to their applications. This versatility makes Polygon an ideal platform for decentralized applications (DApps) such as games, decentralized exchanges, and lending platforms. Its high-speed, low-cost transactions also make it suitable for payment systems, real-time trading platforms, and other applications that require frequent, fast transactions. Polygon’s interoperability with Ethereum enhances its appeal for projects seeking scalability without leaving the Ethereum ecosystem.

We update our Polygon to USD currency in real-time. Get the live price of Polygon on Coinbase.

The current market cap of Polygon is $0.00. A high market cap implies that the asset is highly valued by the market.

The all-time high of Polygon is $0.12. This all-time high is highest price paid for Polygon since it was launched.

Over the last 24 hours, the trading volume of Polygon is $115.729K.

Assets that have a similar market cap to Polygon include Aave v3 USDC.e, Pooh Inu, Valhalla, and many others. To see a full list, see our comparable market cap assets.

The current circulating supply of Polygon is 0.

Polygon ranks 210 among tradable assets on Coinbase. Popularity is currently based on relative market cap.

Currently, 97% of Coinbase users are buying Polygon. In other words, 97% of Coinbase customers have increased their net position in Polygon over the past 24 hours through trading.