Name : Polygon (MATIC)
MATIC Price : $0.704 -6.49%
Consensus Mechanism : Proof of Stake
Volume: 329,009,438
Market Cap: 6,970,304,093
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Last Screening: Q3 2023
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Overview
Polygon, formerly known as Matic Network, is a decentralized scaling platform aiming to solve scalability and usability issues for blockchain applications while maintaining decentralization. It achieves this by providing off-chain scaling solutions for existing platforms like Ethereum, enabling fast and low-cost transactions with finality on the mainchain. The vision of the project is to create an interoperable ecosystem where developers can easily build decentralized applications on any blockchain and facilitate seamless value transfer across multiple blockchains. The development team is also focused on creating user-friendly products such as mobile apps and wallets to enhance the overall user experience and make cryptocurrency usage simpler for all.
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