Polygon, formerly known as the Matic Network, is a platform developed to build Ethereum blockchain. Polygon is being projected by its developers to introduce Ethereum to the general population. To achieve this, the platform is created to provide a simple "plug-and-play" solution to cryptocurrency projects.

Because of this simplified process of using blockchain technology, demand and interest for Ethereum and the other cryptocurrencies has greatly increased. Comprised of an ecosystem of scalable collaborative blockchains, Polygon is also known for its self-sovereignty.

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History of Polygon

After it began as the Matic Network, it rebranded as Polygon after the project expanded. Originally, the Matic Network was developed as a Layer 2 Scaling Solution before evolving into a network of collaborative, interactive and self-sustaining Ethereum blockchains.

Polygon was founded by Sandeep Nailwal, Jaynti Kanani and Anurag Arjun in October 2017.

Polygon Token

The native currency of the Polygon blockchain is the MATIC tokens. Users pay all transaction fees in the Polygon blockchain with MATIC coins. More recently, the popularity of the MATIC crypto has soared among cryptocurrency investors due to the Polygon Network prioritizing to improve its usability and scalability with the Ethereum blockchain. At the same time, it also offers cheaper and faster transactions. MATIC—a made in India token—is an Ethereum coin powered by the Polygon platform to be used to pay for transaction fees and to be involved in the PoS decision-making.

The MATIC token empowers organizations, companies and users to create a decentralized application by way of using solutions to usability and scalability existing in the Ethereum blockchain.

Polygon logo
Polygon logo

MATIC Circulation

MATIC has an initial circulation of 3,230,085,551 with an initial coin offering value f $0.00263. Currently, the total supply of MATIC coins equals to 10 billion.

The breakdown of MATIC's circulation is as follows: 23.33% for the Polygon platform, 21.86% as the foundation's share, 12% is reserved for its network operations, 16% for the Polygon team, 4% for its advisors and the rest for investors.

Polygon as One-Click Blockchain Solution

Polygon, as a framework and protocol for creating and linking Ethereum blockchain networks provides various rich features such as:

  • One-click deployment of preset blockchains and networks
  • An expanding set of modules use in planning and developing custom networks
  • Interoperability protocol for such process like an exchange of messages between Ethereum and other blockchain protocols.
  • It has adaptor modules that enables interoperability for all the current blockchain networks.

Features of MATIC (Polygon)

Some of the most important features of MATIC includes trusted scalability, improved security, good user experience, exceptional transaction speed—of up to 65k transactions per second, ETH compatibility, sovereignty, smooth developer experience and interoperability of assets.

How to Buy MATIC?

The simplest way to buy MATIC is to sign up for an account with a cryptocurrency or trading broker that supports the direct BUY and SELL of MATIC. One such cryptocurrency and trading broker is eToro.

The eToro platform is a great place to start since it offers a straightforward interface that allows for a seamless trading by clicking of a few buttons.

How to Trade MATIC on eToro?

  1. On your eToro dashboard, click "Trade Markets".
    Clicking "Trade Markets" on eToro
    Clicking "Trade Markets" on eToro
  2. Select "Crypto".
    Selecting "Crypto" on eToro's Markets screen
    Selecting "Crypto" on eToro's Markets screen
  3. Scroll down to look for "MATIC".
    Looking for Polygon on eToro's list of crypto assets
    Looking for Polygon on eToro's list of crypto assets
  4. Click "Buy" and set the amount you want to invest.
    Buying Polygon (MATIC) on eToro's platform
    Buying Polygon (MATIC) on eToro's platform
  5. Click "Open Trade".
    Executing MATIC buy order on eToro
    Executing MATIC buy order on eToro

Important Things to Know About Polygon (MATIC)

  1. Polygon provides blockchain-performance-improving technology - A concept called as "sidechain" was introduced by Polygon to connect to a blockchain in order to fasten up transaction time at a lower fee and to also connect to a blockchain.
  2. Polygon is intent on providing a framework for blockchain networks - One of Polygon's many plans include building a framework for blockchain networks. With this, users can easily create blockchain networks to connect with other users.
  3. Polygon is compatible with the EVM or the Ethereum Virtual Machine - the EVM is a software that developers use to create their own DaPPs (decentralized applications apps). Because Polygon and EVM is compatible, this allows developers to connect their apps to Polygon in a much easier fashion.
  4. Polygon's coin the MATIC, is used as payment for Gas fees (fees paid for transactions made on the Polygon network), Stalking and Governance.
  5. Leading exchanges list Polygon (MATIC) - Polygon is available on the leading trading apps today such as Binance, eToro, Gemini and Coinbase.

Is MATIC a Good Investment?

There's no telling how much a crypto's value will become in the future as crypto's price rises and declines continuously.

Polygon meanwhile, makes a strong argument for investors to start buying on its MATIC native tokens. In 2021 alone, the MATIC has skyrocketed in value from where it was at $0.03 towards the end of 2020. Yes, the cryptocurrency market is a volatile one, but so far, several arrows points to Polygon (MATIC) being a wise investment.

Interested now to trade MATIC? Get started here.

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Past performance is not an indication of future results. Trading history presented is less than 5 complete years and may not suffice as basis for investment decision.

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Cryptoasset investing is unregulated in some EU countries and the UK. No consumer protection. Your capital is at risk.

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