Polygon (formerly Matic Network) features a blockchain scalability platform and framework for connecting and building Ethereum-compatible blockchain networks. The network also refers to itself as the "internet of Ethereum's blockchains" because one of Polygon's main tasks is to assemble scalable solutions to support a multi-chain Ethereum ecosystem.
Polygon is also a platform where developers can launch their own independent blockchains and decentralized applications.
Launched in late 2017, Polygon's native token MATIC is currently among the top 15 cryptocurrencies by market cap.
With a market capitalization of more than $15 billion USD, MATIC has a circulating supply of approximately 6.87 billion and a maximum supply of is 10,000,000,000.
MATIC, which hit the peak level of $2.92 in December 2021, is one of the tokens least tumbled during the 2021 Bitcoin crash.
MATIC is the native currency of the Polygon mainnet and serves as a financial incentive for those who want to contribute to the ecosystem. It is also used as collateral in a process called staking, which allows users to participate in Polygon's consensus mechanism to validate transactions in exchange for MATIC tokens.
The biggest competitors of the Polygon network are Cosmos and Polkadot. Polygon has received significant attention recently as its native currency MATIC outperformed most other cryptocurrencies during the market crash of May 2021 and during the weeks of November-December 2021 when most of the cryptocurrencies tumbled.
MATIC became one of the most profitable cryptocurrencies in 2021, starting the year at $0.0178 on January 1, 2021, and reaching the peak level of $2.92.
In our opinion, we will be hearing more about MATIC in the future, as Ethereum-specific DeFi protocols start to migrate to Polygon due to lower gas fees and faster transactions. Also, Filecoin, one of the popular projects of Web 3.0, announced to join the network.
If you have decided to invest in MATIC, which is listed on centralized and decentralized exchanges, you can easily start trading on the ICRYPEX.
Steps to follow: