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What is Matic (Polygon)?

In October 2017 Polygon was launched as Matic by a team that participated in a number of Ethereum ecosystem projects. In the first version of Plasma, which is now used in the Polygon Network, the Polygon team has implemented Vitalik Buterin, a co-founder of Ethereum.


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Anubha Singh

3 months ago | 1 min read
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Polygon was known as Matic Network earlier. It was launched in 2017 as a testnet and later adopted the manner. Polygon (Matic) is an Ethereum token and provides cheaper and faster transactions utilizing level two sidechains.

Investors can store Ethereum tokens into a Polygon smart contract, communicate with them inside Polygon, and later withdraw tokens to the Ethereum main chain. These tokens are useful for participation in Proof-of-stake consensus and transaction charges.

The Polygon that started as Matic is an efficient solution for addressing the scalability problem of Blockchains. It is an improved version of PoS based altcoins and Plasma.

The MATIC token will continue to exist and will play a growing role in protecting the system and allowing governance.

Key elements of Matic Coin include:

  • ETH Compatibility: The dominance of the industry, established technology stack, tools, languages, standards, business adoption
  • Scalability: Dedicated blockchains, custom wasm execution environments, and scalable consensus algorithms
  • Security: Modular “safety as a service” offered by Ethereum or an expert validator bundle
  • Sovereignty: Dedicated performance/resources, completely customizable tech stack, sovereign management
  • Interoperability: Arbitrary message passage Native support (tokens, call contracts, etc.), external system bridges
  • User Experience: Instant transaction finality (deterministic) comparable to Web2, “zero-gas” transactions
  • Developer Experience: No protocol level knowledge, no flag deposits, charges, or permissions are necessarily equivalent to Ethereum.
  • Modularity: Extensibility and upgradeability, short-term customizability, the collaboration between the community.

How does it work?

 Polygon (Matic) works like any other Proof-of-Stake-based blockchain protocol. Polygon’s structure, client nodes, local DApps, digital tokens, validator nodes, and others are pretty as in other protocols.

The network’s distinctive features are its exchanges that are clustered and placed over the Ethereum mainchain.

Polygon (Matic) works on 2 layered networks and creates an interoperable Ethereum powered network of blockchains.

Polygon (Matic) Price in India




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