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BCH $545.70 (-0.5%)
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LTC $159.45 (0.33%)
BNB $370.58 (0.10%)
ADA $2.17 (2.59%)
DOGE $0.21 (1.81%)

Polygon (Matic) Network Review

Polygon-(Matic-Network)-Review

This is a study and review detailing everything concerning the Polygon (MATIC) network. We have also taken into account all the perks of the Polygon network in this tutorial.

Moreover, we serve to be fair and unbiased. For this reason, this review discussion exists to guide you through all your crypto-related activities about the Polygon network.

With that said, we will not leave any stone unturned in this Polygon review. Instead, we will dissect and break down everything about the Polygon network for you to get a deeper knowledge and belief about the Polygon network.

However, this means that by devoting your time to reading, you will learn more about Polygon here. So utilize this moment to deepen your knowledge about Polygon before investing your money in Polygon.

Mostly, this Polygon (Matic) Network Review will hover around Polygon’s blockchain, its success, Polygon use cases, and what it pledges to deliver to crypto users. Now, without wasting any more time, join me in this detailed explanation of what is Polygon.

What is Polygon (MATIC)?

Polygon is both a framework and a decentralized digital asset protocol. It is mainly based in India. Formerly, it was named MATIC before the firm later rebranded itself as Polygon. Regarding the MATIC renaming, the team purposely decided to sell Polygon’s credit globally when its scoop and demand rapidly exploded. It was launched in October 2017.

To add more details in this Polygon (Matic) Network Review, the form of the Polygon network is not Founded by a single person. Amazingly, it was designed and created by decentralized software engineers. This awesome team consists of Jaynti Kanani, Sandeep Nailwal, Anurag Arjun, and Mihailo Bjelic. To be specific, Polygon has its headquarter in Mumbai.

Of note, Polygon terms itself as a blockchain-based scalability platform that purposely exists for Ethereum Internet of Blockchains. For this reason, Polygon has targeted chiefly the Ethereum network. In doing so, Polygon aims to serve as an answer to most of the existing downturns that the ETH network faces every day.

To highlight, some of the issues on the Ethereum network are — heavy fees, poor user experience (UX), low scalability, and low transactions per second (TPS). In this Polygon (Matic) Network Review, we will see how Polygon aims to fix these issues.

In particular, the Polygon network will do this by creating a well-versed multi-chain ecosystem mainly for all Ethereum compatible blockchains. To make this happen, Polygon plans to build various blockchains that can scale and exchange value and data.

This eventually shows that the Polygon network is ever-ready to solve Ethereum’s mainstream issues. For all the parts that crypto and blockchain covers, Polygon mainly plays a vital role. Also, it covers some top areas within the digital asset space such as Decentralized finance (DeFi) and DApps.

However, this does not limit Polygon’s potential to offer more, but it also involves itself in the hottest areas like Decentralized Autonomous Organizations (DAOs) and Non-Fungible Tokens (NFTs).

In terms of crypto prices, Polygon’s price is $1.32 with a market capitalization of $8,486,923,368 at the time of writing, according to CoinGecko. Also, among many existing cryptos, Polygon ranks 18th position in terms of market cap.

Furthermore, to increase Polygon’s reach and popularity to the mainstream audience, its creators are working very hard to make Polygon the third-largest digital asset after Bitcoin and Ethereum. Looking at the pace at which Polygon is booming, many believe that the Co-Founders can achieve their goals and ambitions of the Polygon network over time.

Polygon Technology

As per our careful research and views in this Polygon review, the Polygon blockchain serves as the ground for the internet of value connecting people around. Precisely, Polygon blockchain comes in two distinct forms. The Polygon frameworks and the Polygon protocols.

Using the Polygon network, decentralized projects have the go-to option to work with more blockchain networks with the best feature that has provided sovereignty, scalability, and flexibility. In essence, these blockchain technologies are more fit with Ethereum tools.

As to mention a few, the Ethereum tools are Metamask, MyCrypto, Remix, and more others.  However, the tools must be able to interact with each other and Ethereum as well.

With the help of its tech, Polygon can lure its core components and tools to connect everyone. Moreover, it has the potential to join a borderless economy and society.

Polygon Review: Network Achievement

Discover all the achievements of the Polygon network in this structured Polygon network review. Also, as mentioned above, this section of our Polygon network review best shows all about the Polygon blockchain, its use cases, and mainly the overall success of the Polygon network.

Since its origin, Polygon has gained a myriad of users due to the massive increase in ETH network demand. Also, the mainstream use case of its blockchain is one of Polygon’s achievements.

More specifically, the faster and cheaper transactions by the Polygon side-chain structure cause excessive traffic around Polygon. However, causing hype and a deep drive for the MATIC price helps create a positive view in the eyes of the public.

In addition to this, the Polygon network has had a lot more partnerships since its inception. With this said, it even has a direct connection with the Trace Network. As brought by the collaboration, the Trace Network uses the Polygon blockchain to explore decentralized finance (DeFi) projects and non-fungible tokens (NFTs).

Under this collaboration, both Polygon and Trace would provide liquidity aggregation, total clarity, and supply chain traceability. They aim to provide these features to any luxury firm that wishes to put NFTs on their products.

As part of Polygon’s success, Billionaire Mark Cuban has even added Polygon to his list of crypto portfolios. This is another major achievement earned by Polygon. In light of this milestone showcasing the success of Polygon, the crypto community believes that Polygon would excel excessively more than what we are seeing now.

Still cycling around Cuban’s Polygon investment, there is a high possibility that the acquisition could influence more heavyweight firms. Not just heavyweight companies but also prominent individuals who may look into investing in Polygon.

Real-World Uses of the Polygon Network

Based on what we have discussed above, it clearly shows that the Polygon network is of great value, especially for the Ethereum network. In terms of crypto payment, Polygon momentarily plays a key role. More so, its payment framework makes it an easy-to-go for everyone to transact without facing any difficulties.

Coming back to the polygon use cases, developers also use the Polygon framework for creating and building open solutions for Ethereum. This helps the Ethereum network to scale higher and enables them to join once again within the Polygon network.

Motive and Goal of the Polygon Network

The goal of the Polygon network is so simple and easy to know. Polygon has a big goal and ambition which is to reduce tension and increase the success of the Ethereum Network. As we have already mentioned above, creating an Ethereum-centric ecosystem to scale more solutions in the crypto industry is one of Polygon network’s long-term goals.

Thus, Polygon intends to provide the scaling solution as Ethereum 2.0 is on the way to go live. Moving forward to the next part of our Polygon review, you are going to see the most essential questions that people tend to ask while seeking more knowledge about Polygon.

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.

Collins Adane is a writer who follows the crypto industry closely. He loves fish stew and Real Madrid. He believes in cryptocurrency’s potential to transform the money landscape in his native country Ghana.