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What are Cryptocurrencies- Polygon

MATIC is the token that fuels the Polygon network. Polygon is an Ethereum Layer 2 scaling solution. These allow for faster and cheaper transactions on the Ethereum network. Polygon Labs develops Ethereum scaling solutions for Polygon protocols.
Date
May 13, 2024
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FAQ's
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MATIC is the token that fuels the Polygon network. Polygon is an Ethereum Layer 2 scaling solution. These allow for faster and cheaper transactions on the Ethereum network. Polygon Labs develops Ethereum scaling solutions for Polygon protocols. Polygon Labs engages with other ecosystem developers to help make available scalable, affordable, secure and sustainable blockchain infrastructure for Web3. Polygon Labs has initially developed a growing suite of protocols for developers to gain easy access to major scaling solutions, including Layer 2s (zero-knowledge rollups), sidechains, app-specific chains and data availability protocols. Scaling solutions that Polygon Labs initially developed have seen widespread adoption with tens of thousands of decentralized apps, unique addresses exceeding 327 million, 1.6 million smart contracts created and 2.9 billion total transactions processed since inception. The existing Polygon network is home for some of the biggest Web3 projects, such as Aave, Uniswap and OpenSea, and well-known enterprises, including Robinhood, Stripe and Adobe.

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We believe that Polygon labs and their MATIC token are industry leaders across several fronts. The MATIC token has a fixed supply of 10 Billion tokens and 98% of them are already in circulation. This is deflationary tokenomics in that any increase in demand will correlate to an increase in the price of each token. You can check out token performance and additional information at CoinMarketCap.

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