A Competitive Token In the Race to Be Ethereum’s Top Payload Processor
In just a handful of years, Polygon (MATIC) established itself as one of the future giants of blockchain. Launched to address the congestion of Ethereum, Polygon’s demand makes it one of the top-10 most traded tokens within the global-crypto market. Find out more about this chain, its token, and if Polygon staking is a good investment within the review below!
What Is Polygon?
Polygon blockchain is a layer-2 solution built upon the Ethereum ecosystem. Its programming gives developers the ability to scale smart contracts without facing traffic congestion. Removing the payload of Ethereum in this way results in faster transactions and impressively lower fees.
The Polygon crypto is also handy at optimizing interoperability between different chains. Its protocols empower the system to combine layer 1 and 2 solutions into a single network. This means that developers can build smart contracts atop a modified Ethereum interface.
Unlike other-payload providers within Ethereum, Polygon staking uses what are called “side chains” to lighten a blockchain’s load. By diverting users to such side chains, the ETH network is released from its operational burden but without sacrificing security or autonomy.
Being able to support interoperable chains and protocols make Polygon’s future versatile. The project attracts developers from around the world. It appeals to specialists working in the field of decentralized finance (DeFi) more than any other. Its network uses the MATIC token for staking.
The latter works in payment processing, for service fees and for Polygon staking in USD.
Jaynti Kanani, Sandeep Nailwal and Anurag Arjun founded Polygon in 2017 but by a different name. What was once known as Matic eventually moved to the layer-2 market of blockchains. It became Polygon to express its multifaceted programming and renewed interoperability.
The congestion issues that Ethereum began to face inspired this change. That shift wasn’t finalized until 2021 when the public was notified and invited into staking MATIC. Ethereum’s scalability challenges would make Polygon blockchain relevant. The Polygon crypto would answer the issues of rising cost and the increased time it took transactions to process.
It was in 2020 when the Matic Network mainnet was launched before being renamed in 2021. Needless to say, Polygon staking attracted interest, which positioned the blockchain alongside a vast number of new partners. These included, in particular, Binance and Chainlink.
The Polygon team even launched an incubation program for blockchain startups. By offering blockchain grants, the network extended its market share and made itself a center of innovation. Now consider why MATIC is among the top cryptos to decide if Polygon is a good investment.
Why Was Polygon Designed?
The Matic Network became the Polygon blockchain in order to exploit a new industry that emerged as developers noticed congestion issues within the Ethereum ecosystem. This market demand led to Polygon crypto providing layer-2 solutions for blockchain scalability.
Its solutions enable those developing on Ethereum to work with faster processes and lower fees. Though not easy to see in plain sight, the population of users on Ethereum can slow its operating system. This means that users end up paying more per transaction due to the payload the system has in handling transactions or executing protocols.
Polygon’s future achieves operability by hybridizing layers 1 and 2 of blockchain together. The advances enable different protocols from different chains to integrate. At the heart of these developments is the MATIC token. It powers the network by covering fees and enabling staking.
The ecosystem built through Polygon made its network ideal for incubation programs also. By focusing on web3.0 startups, Polygon built an impressive network of new, influential partners.
How Does Polygon Work?
Polygon scales the Ethereum network by combining layers 1 and 2 within blockchain architecture. Combining these layers improves the versatility of Ethereum and thus lightens its load. Developers can then work faster and without encountering congestion blocks.
Essentially, Ethereum is the central network, but through Polygon, it can divert its working traffic elsewhere. Polygon takes on the additional workload of Ethereum, and as a result, this side chain charges USD transaction fees and invites investors to stake into its architecture.
To achieve low fees and high throughput, Polygon crypto works on PoS. This proof-of-stake method of validating a blockchain is the fastest we know. It not only maintains a decentralized network, but it also offers investors a passive income from their staked MATIC tokens.
Whereas Ethereum can process up to 15 transactions per second (TPS), Polygon can do up to 65,000 TPS. Ensuring this high capacity calls for Polygon staking to occur “off-chain.” A separate network manages its staking, making Polygon’s future load on Ethereum even lighter.
Where to buy Polygon?
The MATIC crypto in USD, which supports your Polygon prediction, is available on all major exchanges today. We recommend regulated exchanges and have listed a few below:
There is no dispute that Binance has the largest site of investors on the planet in 2024. The Polygon crypto can be picked up here alongside a number of other e-coins. You will need to register your account with a username, mailing address, phone number and valid bank account.
Binance is known for its liquidity as well. With more than 28.6-million users, your orders on Binance are sure to have a buyer when you want to sell and a seller when you seek to buy. Though secure and reliable, this exchange will grant you relatively low transaction fees.
Kraken is cherished for its flat fee when trading alt or stable coins. Through this agency, you have the choice of trading individual tokens or funding new blockchain projects. Once accounts are verified, investing in Polygon-MATIC predictions can be done in fiat currencies like the USD.
Regulation and security are a major part of the exchange’s reputation. You can buy, sell or price predict MATIC crypto without the unwarranted risks that other sites expose you to.
Right behind Binance, Coinbase is the second most-widely used platform in the world. As you can imagine, a vast number of projects, like MATIC’s price in USD, are here. Coinbase is another liquid platform, which lowers the risk of getting stuck in investing in Polygon predictions.
The exchange offers a multitude of order types, including limit, stop and margin orders.
If you see Polygon as a good investment, then you’ll need the right exchange to trade on. Tokize has always been a supporter of Binance, and we think you’ll find it reliable too. The additional exchanges we listed are worth trying also, but Binance is by far the largest. The site is recognized for offering expertise, great customer service and autonomous security.
By being so liquid, Binance establishes the least amount of risk you could face in trading. Those planning to place many orders, in fact, benefit from the liquidity of this exchange. You’ll not only find tokens from around the globe, but you’ll also get all the MATIC in USD you want.
As always, keep in mind how volatile cryptocurrencies are and manage your risk. You do so by only investing what you know you can afford to lose. By no means are we providing investment advice, but the statistics do reveal how effective diversity can be in protecting your portfolio.
As you decide if MATIC is a good investment or not, keep in mind that you can also research other coins to invest in. Keep to your due diligence, and consider following the latest news on crypto from Tokize. We cover crypto developments and offer reliable info on Polygon staking.
Is Polygon a Good Investment Token In 2024?
Polygon Fear and Greed Index
Updated:: 23 February 2024
Now: 79 Extreme Greed
Now: 79 Extreme Greed
Yesterday: 78 Extreme Greed
Last Week: 70 Greed
Crypto trading involves the decision to buy or sell a particular token. For MATIC, it comes down to what traders think about the future of decentralized applications (dApps). When the future is optimistic, a lot more capital will be poured into the Polygon network, boosting the value of MATIC, and vice versa.
The Fear and Greed Index is an indicator that was created to establish what traders and investors think of this future. It oscillates between fear and greed, representing moments when investors are pessimistic and when they are optimistic.
During periods of pessimism, there is little buying activity and many investors will even sell their MATIC tokens. On the other hand, optimism encourages more buying and MATIC prices will rise correspondingly.
As you can see, the Fear and Greed Index is ‘simple’ in operation but very effective as an indicator of market sentiment. Therefore, you can use it to tell when the markets are oversold or overbought and make a decision on how you want to trade. However, we recommend complimenting the Fear and Greed Index with other trading tools and indicators to confirm your analysis because it’s not perfect. It’s also a lagging indicator and may not take into consideration the most recent market events, so staying up to date with the latest trends is a must.
Want to Know if MATIC Is a Good Investment for 2024?
There’s no doubt in crypto circles that the future of Polygon’s blockchain is promising. The project saw one of the fastest growing-market shares, and its share keeps growing. As long as the congestion of Ethereum remains an obstacle for smart contracts, Polygon will be relevant.
Ethereum is also realizing a larger market share, and this results in more awareness about Polygon’s future and the solutions it offers. As users and investors aim to pay less to write smart contracts, the market demand for side chains will stand. Crypto is already here to stay.
With its development, the MATIC team has announced large-scale partnerships with projects like Chainlink, Aave and investors like Mark Cuban. These partnerships are likely to attract more developers to the platform. Such can certainly lead to an increase in Polygon’s price predictions.
A Final Prediction On Polygon
Polygon staking is a premiere solution to respond to Ethereum’s scalability problems, and that’s good news for investors. Additionally, Polygon’s ongoing efforts to support blockchain startups and DeFi projects, through incubator/grant programs, demonstrate even more promise.
The future initiatives to get more developers on the platform can make it easier to sell MATIC.
In seeing a digital world explode, Joseph invested his writing in the field of technology over 8 years ago. As a leading-content creator, he believes in clarity, credibility and writing topics people want to read. From blockchain to Web3.0, Joseph sees no shortage of developments as crypto pushes forward. He’s become a voice in technology that people can trust and look forward to hearing more from.