What is Polygon?
Polygon (formerly known as Matic Network) is a layer-2 scaling platform that enables fast, easy and secure off-chain transactions (payments and smart contracts in general). Polygon has solved problems that exist on Ethereum including: high latency, limited scalability, and high transaction fees.
Polygon turns Ethereum into a full-fledged multi-chain system, aka the Internet of Blockchains. This multi-chain system is similar to other chains like Polkadot, Cosmos, Avalanche, etc. with the advantages of security, diverse ecosystem and publicity of Ethereum.
Polygon’s role
The main component of Polygon is the Polygon SDK, a flexible, modular framework that supports a wide variety of applications.
The special feature of Polygon is that it supports all solutions on layer 2, besides PoS Chain and Plasma. Polygon users can create an Optimistic Rollup chain, a ZK Rollup chain, a standalone chain, or any other type of infrastructure.
- PoS Chain: a sidechain of Ethereum added Proof-of-Stake security layer.
- Plasma Chain: a bridge that scales by moving assets between the Ethereum root chain and the Polygon subchain.
- ZK Rollup: solution that wraps a large number of tasks in a subchain into a single transaction.
- Optimistic rollups: solution that runs on Ethereum to facilitate near-instant transactions through the use of fraud proofs.
Main features of Polygon
- Scalability: fast, low-cost and secure transactions on the Matic sidechain with finality achieved on the main chain and Ethereum being the first compatible Layer 1 database
- High throughput: up to 7,000 TPS on a single sidechain in the internal testnet; expand horizontally by adding multiple new chains
- User experience: smooth user experience when switching between mainchain and sidechain Matic; WalletConnect enabled phone apps and SDKs
- Security: Matic chain operator can join staking in the PoS . system
- Public sidechains: Matic sidechains are completely public, permissionless, and capable of supporting multiple protocols
Polygon is full of features that competitors have not implemented: compatibility with Ethereum, scalability, security, user and developer experience, and more.
Token MATIC
MATIC is a token of the Polygon platform, used for the following purposes:
- Proof of Stake Consensus Participation: Matic sidechains reach consensus using the Proof-of-Stake (PoS) mechanism, in which network participants stake MATIC to participate in validation.
- Payment of transaction fees: transaction fees on Matic sidechains are paid in MATIC tokens.
- Paying staking rewards: MATIC tokens are used to pay staking rewards.
Specifications
- Token name: Polygon.
- Symbol: MATIC.
- Blockchain: Ethereum.
- Total supply: 10,000,000,000 MATIC.
- Circulating supply: 4,991,963,446 MATIC.
Token Allocation
- Launchpad: 19% ~ 1,900,000,000 MATIC.
- Seed round: 2.09% ~ 209,000,000 MATIC.
- Early Supporter: 1.71% ~ 171,000,000 MATIC.
- Team: 16% ~ 1,600,000,000 MATIC.
- Advisors: 4% ~ 400,000,000 MATIC.
- Foundation: 21.86% ~ 2,186,000,000 MATIC.
- Ecosystem: 23.34% ~ 2,334,000,000 MATIC.
- Staking reward: 12% ~ 1,200,000,000 MATIC
MATIC token Price today
How to buy MATIC
Polygon (MATIC) has been listed on Attlas Exchange.
Traders can easily and securely buy MATIC with lowest fees on Attlas Exchange.
Step 1: Download the app and register an account
Step 2: Select Market on the toolbar at the main screen
Step 3: Select Spot
Step 4: Find MATIC
Step 5: Select Buy
Summary
This article is an overview of Polygon (MATIC), not a financial advise.
Users are advised to do their own research before making any trading decisions.