Polygon
About Polygon
The price of Polygon (MATIC) is $0.41466024 today, as of Sep 01 04:05 a.m., with a 24-hour trading volume of $148.30M. Over the last 24 hours, the price has decreased by -2.19%. Polygon currently has a circulating supply of 9.28B and a market cap of $3.85B.
- % goes toward supporting Matic projects.
- 21% goes to the Polygon Foundation for shepherding development of the protocol.
Polygon lives on top of Ethereum as a layer 2 blockchain. The underlying Ethereum blockchain ultimately secures and settles transactions, but developers have been designing second layers built on top of blockchains to increase the number of transactions per second that a network can process.In what some call an “Internet of Blockchains,” Polygon aims to bridge many different blockchain projects on Ethereum, which all boast different features, but aren’t necessarily interoperable. There are other blockchain projects trying to solve a similar problem, such as Polkadot and Cosmos. Polygon aims to improve upon these projects by being compatible with Ethereum, tapping the second-largest blockchain’s security and mature ecosystem.Polygon uses the proof-of-stake consensus algorithm to simultaneously secure the network and create new coins over time. That is the same method used by Ethereum’s 2.0 blockchain and Cardano, and requires users to lock up tokens in order to be randomly nominated to validate new blocks of data.All Polygon updates can be tracked via the project’s official GitHub page.