MATIC Coin Price

Polygon MATIC

MATIC Coin Price

$0.83810
+0.97%
24h High$0.85184
24h Low$0.81955
Market Cap$6,234,813,417
24h Volume$475,879,319-2.42%
Circulating Supply
7,441,499,126 MATIC74%
74%
Total Supply10,000,000,000
Max Supply10,000,000,000

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MATIC Coin Price

$0.83810
+0.97%
24H Low$0.81955
24H High$0.85184

Trading on ARKEN

What is Polygon (MATIC) ?

Polygon, formerly known as MATIC Network, is a framework for creating linked blockchain networks. It uses a new sidechain method to overcome some of Ethereum's key constraints, such as throughput, bad user experience (high speed and delayed transactions), and a lack of community control. Rather than being a simple scaling solution, like its predecessor MATIC Network, which utilizes Plasma technology to process transactions off-chain before completing them on the Ethereum main chain, Polygon is intended to be a full platform for creating interoperable blockchains. Currently MATIC or Polygon coin is listed on several leading exchange platforms, including ARKEN Finance, MATIC coin price and MATIC coin chart can be monitored and followed throughout those platforms.

Developers may use Polygon to build pre-configured blockchain networks with attributes customized to their specific need. These may be further modified with an expanding set of modules, allowing developers to build sovereign blockchains with more specialized features.

MATIC Coin Price

As of 18 August 2021, MATIC coin price or Polygon coin price listed is around $1.33 and it has been on its slight downward trend since 14th August 2021. For those who would like to invest in MATIC, you can check out MATIC coin price today here.

MATIC address (BSC): 0xcc42724c6683b7e57334c4e856f4c9965ed682bd
MATIC address (Polygon): 0x0000000000000000000000000000000000001010
MATIC address (Ethereum): 0x7d1afa7b718fb893db30a3abc0cfc608aacfebb0

How Does the MATIC Network Work?

The MATIC Network's technological architecture reflects the goals that its creators established when building their solution and was audited by Certik. For starters, it is intended to shorten the time it takes to transfer ETH and ERC20 tokens on the Ethereum network, particularly for use cases involving small-time purchases and everyday transactions (ranging anywhere from 14-20 seconds). High costs and network congestion at peak hours worsen the problem, which the MATIC wants to solve with the following strategy:

Users use the MATIC contract on the main chain to make a deposit containing a crypto asset. Tokens deposited must be verified on the main chain. The tokens will then be shown on the MATIC chain through the MATIC Deposit bridge. These bridges serve as parts of the block producer nodes. They maintain account of any root contract occurrences on the main chain, as well as any token transfers that occur as a result of them. This is accomplished with the assistance of the MATIC Network's specialized tool known as Dagger. The Dagger assists bridges in detecting deposits on the main chain in order to trigger an event on the MATIC chain and guarantee that the deposit in question is sent to a suitable address on the MATIC Network.

Once this is completed, users will be able to transmit tokens almost instantly and at lower rates. Simultaneously, there is an opportunity to withdraw tokens to the main chain by validating the evidence of remaining tokens on the root contract, which is the one deployed on the Ethereum chain. The same method is available for Ethereum blockchain ERC-20 tokens and other fungible assets.

MATIC token

Even though Polygon has significantly expanded on MATIC Network's concept, it still employs the same utility token, known as MATIC. The MATIC token is utilized in the Polygon ecosystem for a number of reasons, including network governance via voting on Polygon Improvement Proposals (PIPs), contributing to security through staking, and paying gas costs.

Where and How to Purchase MATIC

The MATIC token is presently one of the top 100 biggest cryptocurrencies in terms of market value and enjoys high liquidity. It can be purchased and traded on many cryptocurrency exchanges such as ARKEN Finance. You can also check out MATIC token price via our platform.

The near future

The competition to be the first interoperability solution to go completely online has begun. Polygon's proof-of-stake chain and Plasma scalability solution are now operational, but developers will be unable to build their own independent or shared security chains on Polygon until these features are available. Similarly, neither ZK-rollups nor optimistic rollups have been released on the network, leaving Plasma as the sole scaling solution on Polygon.

Polygon's competitors are likewise rushing to launch their products. Polkadot has yet to publish public parachains as of March 2021, and while Cosmos' Stargate update has seen the release of its Inter-Blockchain Communication Protocol (IBC), it will not be fully operational until IBC transactions are enabled on the network.

MATIC Coin Price

Why Should You Buy Polygon?

What Makes It So Unique?

The Polygon project is one of the most recent attempts at blockchain interoperability and scalability, and it is intended to overcome some of the apparent constraints of interoperability projects like Polkadot and Cosmos. For starters, it is compatible with the Ethereum Virtual Machine, making it accessible to people who are used to developing apps on Ethereum and programming in Solidity; Cosmos, on the other hand, employs a WASM-based virtual machine. Another advantage of Polygon's shared security approach is that it is totally optional; sovereign platforms do not have to give up any independence or flexibility for the sake of more security if it is not required. It also promises to be adaptable enough to include any scaling method, in addition to the existing Plasma chains, ZK-rollups, and optimistic rollups.

Polygon's scaling technology has already been used in a number of applications, including EasyFi, a decentralized borrowing and lending platform that supports undercollateralized loans, and also Aavegotchi, which is a DeFi trading game that uses non-fungible tokens (NFTs).

Polygon Use Case

What Is the MATIC Token's Function?

On the MATIC Network, MATIC Token is a utility token. It is intended to serve many primary functions. It is used to arbitrate disputes amongst users who contribute to the MATIC ecosystem's operation. The coin is intended to serve as a financial incentive for users who wish to contribute to the MATIC Network and maintain its ecosystem alive. They can, for example, supply computing resources and services associated with proof publication and block validation in return for MATIC tokens. As previously stated, token staking is necessary for participation in the MATIC Network's consensus mechanism. Stakers who engage in illegal acts will be penalized by having their MATIC Tokens revoked.

On 24 April 2019, the MATIC Network held a token sale on the Binance Launchpad platform. The auction was the first to use a unique lottery format. The Binance exchange unveiled a new method in early 2019 in which a user can claim up to five tickets to participate in the token sale, with the number of tickets determined by the quantity of BNB held during a 20-day period. The successful sale of 1.9 billion accessible tokens garnered about USD 5 million.

As of May 2019, the currency's market worth was USD 56 million, with around 2 billion tokens in circulation out of a total of 10 billion units anticipated. The token may be bought and sold on cryptocurrency exchanges such as Binance, Hotbit, and others. Tokens acquired can be kept in the official MATIC wallet.

Team & Organization
Founders
  • Jaynti Kanani
  • Sandeep Nailwal
  • Anurag Arjun
  • Mihailo Bjelic
Investors
  • Mark Cuban
  • MiH Ventures
  • ZBS CAPITAL
  • Coinbase Ventures

Twitter Update

Historical Data for MATIC Coin Price

Date
Open
HighLow
Close
VolumeMarket Cap
Aug 30, 2022$0.81565$0.84846$0.81469$0.82484$436,838,673$6,080,652,075
Aug 29, 2022$0.80723$0.83370$0.78932$0.80148$451,440,201$6,102,550,520
Aug 28, 2022$0.81461$0.82061$0.76703$0.80643$372,122,225$5,892,264,077
Aug 27, 2022$0.80003$0.82699$0.79787$0.81757$483,838,952$6,015,705,192
Aug 26, 2022$0.78802$0.80960$0.76500$0.79388$551,362,472$5,667,422,255
Aug 25, 2022$0.81535$0.83454$0.78151$0.78151$267,258,917$6,105,922,682
Aug 24, 2022$0.83598$0.83598$0.81119$0.81148$318,863,248$6,042,927,679
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