MATIC Network, also known as Polygon, is a Layer 2 scaling solution for Ethereum that aims to improve the scalability and usability of the Ethereum network. It was founded in 2017 and has since become one of the most popular Layer 2 scaling solutions in the crypto space.
Polygon aims to provide a faster and cheaper alternative to the Ethereum network, while maintaining compatibility with Ethereum's existing infrastructure. It does this by using a Proof of Stake consensus mechanism and a Plasma-based sidechain system.
One of the most exciting features of the Polygon network is its low transaction fees. With fees as low as a fraction of a cent, Polygon is a popular choice for developers looking to build decentralized applications (dapps) on a budget.
In addition to low transaction fees, Polygon also offers fast transaction speeds. Transactions on the Polygon network can be confirmed in just a few seconds, making it ideal for applications that require near-instantaneous confirmation times.
Overall, the Polygon network is an exciting development in the world of decentralized finance (DeFi) and blockchain technology. With its fast transaction speeds, low fees, and strong ecosystem of developers and users, it is sure to continue to grow in popularity in the coming years.
Matic Network was founded in 2017 by a team of Indian entrepreneurs, Jaynti Kanani, Sandeep Nailwal and Anurag Arjun. The objective of the network was to solve the scalability problems of the Ethereum network and improve the user experience in the blockchain.
The ICO (Initial Coins Offer) of MBIC was carried out in April 2019 and collected $ 5 million in 60 seconds. At that time, Matic was quoted at $ 0.00263.
In September 2019, Matic Network partnered with chainguardian to provide safety solutions to network users.
In May 2020, Matic Network announced an association with Makerdao to allow Matic users to access the STABLOIN DAI and other synthetic assets in the Ethereum Network.
In June 2020, Matic Network was integrated with Binance, which allowed Binance users to exchange nucy on the platform.
In March 2021, Matic Network fell as Polygon and became a layer 2 platform of Ethereum that allows rapid and economical transactions on the network.
In May 2021, Polygon associated with the Ethereum Foundation to develop scalability solutions in the Ethereum Network.
Currently, Matic Market capitalization is approximately more than $ 6 billion, and cryptocurrency is quoted at around $ 1.37
There are several important DAPPs that are executed in the Polygon network. Here is a list of some of the most popular and relevant DAPPs: AAVE: AAVE is a loan and decentralized flash loans that runs on the Polygon network. AAVE offers loans and flash loans with competitive interest rates and without intermediaries. Sushiswap: Sushiswap is a decentralized exchange protocol (DEX) that runs on the Polygon network. Sushiswap allows users to exchange cryptocurrencies decentralized without intermediaries. Quickswap: Quickswap is another decentralized exchange protocol that runs on the Polygon network. Quickswap uses a layer 2 rates structure and offers rapid transaction times and low rates. Curve: Curve is a Stablecoins exchange protocol that runs on the Polygon network. Curve allows users to exchange stablecoins in a decentralized way with low rates. Polycat: Polycat is a tokens -based game that runs on the Polygon network. In Polycat, users can raise and trade with virtual cats and obtain re -form in the form of CAT tokens. These are just some of the most popular DAPPs in the Polygon network. As the network continues to grow and evolve, new and interesting DAPPS are likely to arise in the future.
In summary, Matic is a platform for scalability and development of blockchain applications that offers a solution for congestion and slow problems in the Ethereum Network. With its focus on interoperability, security and ease of use, MBIC has become a popular option for developers and users of decentralized applications.
In addition, the platform has launched several exciting initiatives in recent years, including its rewards program, its integration with important cryptocurrency projects and its association with projects in the games industry.
With the growing demand for decentralized applications and blockchain, Matic is well positioned to continue growing and developing its platform in the future. While there are still challenges and obstacles to overcome, such as user adoption and education, Matic is being established as an important player in the blockchain technology space and is definitely a project to follow in the coming years.
