Polygon Network (formerly known as ) Matic Network ) has grown over 500 times since the bottom. This is considered layer-2 . project most successful on Ethereum Network. Why price MATIC such a surprising increase? Do we still have the opportunity to invest in this network? Find out more in this article.
Problem of Ethereum Network
Ethereum Network is the first choice of many blockchain developers and this is the most decentralized ecosystem to date. However, Etherum has a number of drawbacks that still need to be addressed in the Ethereum 2.0 implementation. Low throughput, high gas fees, and network congestion create limitations for developers and users alike. This is also one of the reasons why many projects are gradually looking for another network.
To help improve the key issues of Ethereum, many Layer-2 (layer 2) projects were born to support this network. Polygon can be said to be one of the most successful projects.
What is Polygon Network?
Polygon is a Layer-2 (layer 2) scaling solution created to help the Ethereum Network increase mass adoption. It meets the diverse needs of developers by provides tools that make decentralized applications (dApps) scalable, high-performance, better user experience (UX) and secure. Polygon achieves this in large part due to the underlying technical architecture of the Proof-of-Stake (PoS) Commit Chain and the more viable Plasma (MoreVP) L2 scaling solution. Polygon’s PoS blockchain acts as the Commit Chain for the Ethereum main chain, drawing more than 80 Ethereum dApps to its platform for transactions without the network congestion common to Ethereum and Proof-of-Work blockchains ( PoW) other.
Polygon operates primarily through Commit Chains, which are transaction networks that operate adjacent to a main blockchain – in this case, Ethereum. Commit Chains pool batches of transactions and validate them continuously before returning data to the main chain. Theoretically, Polygon will eventually have thousands of chains scaling together to increase throughput, with the potential to one day generate millions of transactions per second (TPS) when tied to the main chain like Ethereum. Polygon currently only uses the Commit Chain connection to improve transaction times, but will eventually use other Layer-2 scaling mechanisms such as Optimistic Rollups.
While fully focused on Ethereum at the moment, Polygon plans to develop its scalability-focused product offering to support other blockchains and provide cross-chain interoperability between different protocols.
Solution of Polygon Network
Polygon has developed a layer 2 network for building blockchain networks compatible with Ethereum and increased scalability. Polygon’s modular framework for building custom networks allows Devellopers to deploy pre-built blockchain networks with just one click. Furthermore, Polygon helps blockchains to interact with each other easily without any problems.
Polygon is built for developers, by developers, increasing scalability. The platform boasts scalable (scalable) consensus algorithms, its own Wasm execution environment, and features “security as a service” (security as a service) Modular with standard Ethereum compatibility and functionality. This means that Polygon networks can harness established technology, standards, languages, and tools to create customizable business-ready blockchain networks. This means that even basic programmers can develop blockchain applications easily for their businesses.
With dedicated throughput, independent administration, and flexible, customizable technology, Polygon enhances the user experience by facilitating cost-effective, near-instant transactions with final transaction determinism. Furthermore, this can be switched across a lot of blockchain networks with native support for tokens with bridges between other networks. Furthermore, Polygon enables developers with no protocol knowledge to create highly customizable and scalable networks with a short time to market that promotes interoperability and collaboration between networks.
What is MATIC coin?
Matic is Polygon Network’s governance token. There are basic functions of a platform token:
- Pay transaction fee
Polygon Network uses a Proof-of-stake consensus mechanism. And we will use Matic to stake to run the validating nodes of the system.
Exchange rate MATIC – Polygon
Matic prices are continuously updated in real time by Congecko.
Currently the nine slow developments of ETH 2.0 have led a lot of projects and users towards a better solution. This makes Polygon recently attracted a lot of projects running on its network. It’s like when the time comes to stop because the ETH fee can sometimes go up to $ 60 for a transaction.
We can see that large projects on Ethereum have also used Polygon’s solution to make their system superior in terms of transaction fees, speed, scalability, ..
Details of projects using Polygon at: https://awesomepolygon.com/
Where is the reputable place to buy and sell Matic coin?
At the present time, investing in cryptocurrencies as well as buying and selling cryptocurrencies has become much more popular. It is considered one of the most popular ways to make money online. That’s why, the buy MATIC, sell MATIC has also become much simpler.
In this article, I will introduce to you the 2 most popular and simple ways to buy and sell at the moment.
Buy MATIC in VND
Currently, there are many exchanges that support cryptocurrency trading in VND, but separately buy MATIC For prestige, I think the best currently is the Bitmoon exchange.
The advantage of Bitmoon is low fees, high liquidity, support for many coins and can store coins right on the exchange. Besides, Bitmoon has been operating for a relatively long time and the reputation level is guaranteed.
Bitmoon has high liquidity and reputation, so I believe that for basic trading needs, cash out in VND, Bitmoon is enough to apply.
Link to buy and sell Matic: https://bitmoon.net/mua-ban/matic-network
Prestigious international MATIC buying platform
The advantage of all international exchanges is that they support many types of coins, besides also supporting other forms of trading such as Margin, Futures.
For those of you who have traded a lot and have experience, you can use and trade regularly on international markets.
Released on the platform Binance Launchpad so volume MATIC trading on the Binance exchange is the largest. In addition, there are a number of exchanges specializing in altcoin trading, but the reputation level will be much less.
In my opinion, the international floor is the best choice for buy and sell MATIC is the Binance exchange.
Although the international exchange has the advantage of trading volume as well as high liquidity, the disadvantage is that you cannot trade in VND. Almost every transaction buy MATIC All of you use USDT for transactions.
Should I invest in Polygon?
This is a question a lot of you have asked GTA Ventures. From a personal point of view, in the long run, you should invest in Polygon for the following reasons:
- ETH 2.0 will take another 5-10 years to really mature. However, it does not solve the problem of transaction speed with a maximum of only 100,000 transactions/second. Polygon is aiming for millions of transactions/second.
- Polygon towards Blockchain’s radical solutions:
- Increase the extensibility
- Reduced transaction fees
- Improve UX to maximize support for businesses and projects.
- Good compatibility with Ethereum
- Connect with ecosystems beyond Ethereum: Polkadot, Near, Cosmos,…
- Polygon is at the forefront of a Layer-2 solution for Ethereum which makes it being used by a lot of existing projects on ETH. Therefore, the capital poured into Polygon is extremely large. This is what even Binance Smart Chain, Polkadot, Solana, etc. aspire to.
- Polygon is aiming beyond the Ethereum ecosystem with radical cross-chain solutions.
- The price of Polygon has increased 500 times from the bottom reaching a capitalization of over 15 billion USD if all tokens are unlocked. In the long run, it can match Ethereum or surpass it.
In the end, it’s up to you to invest or not. Your money is definitely up to you. Please study carefully before Clicking the Mouse. GTA Ventures is always with you.