Polygon (MATIC) Explained in 6 Easy Steps

Polygon is an Ethereum-based platform that was created with an aim to provide a solution for scalability problems. Its former name and current symbol are MATIC.

1. When was it founded and by whom?

Formerly known as MATIC, Polygon was created by a team who have previously contributed to Ethereum blockchain network and it was launched into the market in October 2017. The co-founders of Polygon team are Jaynti Kanani, Sandeep Nailwal, and Anurag Arjun.

2. MATIC’s infrastructure

MATIC is a platform built on Ethereum network. It has a plasma framework that was developed for the management of smart contracts in a scalable and autonomous manner. Its operation aims to improve the layout built on Proof of Stake (PoS) consensus mechanism and Plasma.

3. What does it offer to users?

MATIC is a platform that is often defined as a “Layer 2 scaling solution” in Ethereum ecosystem. It introduced various innovations to Ethereum network such as scalability to a greater ecosystem, reducing block confirmation time of transactions carried out on the chain, and hosting unlimited number of decentralized apps.

4. Can MATIC be mined?

MATIC is not a type of cryptocurrency that allows mining activities.

5. All-time low, all-time high (ATH), and total supply

MATIC’s all-time high price was $2.68 on May 18th, 2021 while all-time low price was $0.003012 on May 9th, 2019.  Circulating supply of the cryptocurrency is 6,303,422,325 MATIC and the total supply is 10,000,000,000 MATIC.

6. How to trade MATIC on Paribu?

By clicking on the link, you can trade MATIC on Paribu.

Bu içerik en son 26 October 2022 tarihinde güncellenmiştir.


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