Polygon (MATIC)

Polygon (MATIC) Overview: Your Exclusive Guide for 2024

CryptoCryptocurrency Reviews
Tags: Cryptocurrency review

Within a few short years, Polygon (MATIC) has solidified its position as a prominent player in the blockchain realm. Initially created to tackle Ethereum’s congestion issues, Polygon has gained significant traction and now ranks among the top 10 most actively traded tokens in the global cryptocurrency market. Delve deeper into the details of the Polygon (MATIC) blockchain, its associated token, and whether investing in Polygon staking is a wise decision in the comprehensive review below!

What Is Polygon?

Polygon is a layer-2 blockchain solution that operates within the Ethereum ecosystem. Its architecture provides developers with the capability to scale smart contracts efficiently, avoiding congestion issues on the Ethereum network. This approach results in quicker transactions and significantly reduced fees.

Additionally, Polygon’s cryptocurrency plays a crucial role in enhancing interoperability across diverse chains. The platform’s protocols enable the integration of both layer 1 and layer 2 solutions into a unified network, allowing developers to construct smart contracts using a customized Ethereum interface.

In contrast to other Ethereum payload providers, Polygon Staking employs “side chains” to alleviate the burden on the blockchain. Redirecting users to these side chains frees up the Ethereum network, maintaining security and autonomy without compromising operational efficiency.

The ability to support interoperable chains and protocols positions Polygon as a versatile platform for the future, attracting developers globally, particularly those specializing in decentralized finance (DeFi). The network utilizes the MATIC token for staking, functioning in payment processing, service fees, and Polygon staking in USD.

Why Was Polygon Created?

The identification of a burgeoning industry born out of the recognition of congestion challenges within the Ethereum ecosystem was what motivated the switch from Matic Network to Polygon blockchain. Responding to this market demand, Polygon Crypto emerged as a provider of layer-2 solutions, addressing the scalability issues in blockchain development.

Polygon’s solutions offer developers on Ethereum the advantage of faster processes and reduced fees. While not immediately apparent, the Ethereum network’s user population can impede its operational efficiency. This results in users paying higher transaction costs due to the system’s handling of transactions and protocol execution.

The future vision of Polygon involves seamlessly integrating layers 1 and 2 of the blockchain, fostering interoperability. These advancements facilitate the integration of various protocols from diverse chains. Central to these developments is the MATIC token, which empowers the network by covering fees and facilitating staking.

Polygon’s ecosystem, tailored for incubation programs, has proven conducive to web3.0 startups, establishing a robust network of influential partners.

How Does Polygon Operate?

Polygon enhances the scalability of the Ethereum network by integrating layers 1 and 2 within the blockchain architecture. This integration augments Ethereum’s flexibility, alleviating its operational burden. Consequently, developers can work more efficiently, free from congestion constraints.

While Ethereum serves as the central network, Polygon facilitates the redirection of its operational traffic. Polygon shoulders the additional workload from Ethereum, leading to the imposition of USD transaction fees on this side chain. Investors are also encouraged to engage in staking within its architecture.

Employing a proof-of-stake (PoS) mechanism, Polygon crypto achieves low fees and high throughput. This PoS method, recognized as one of the fastest, not only ensures a decentralized network but also offers investors passive income through staking MATIC tokens.

In contrast to Ethereum’s processing capacity of up to 15 transactions per second (TPS), Polygon can handle up to 65,000 TPS. To maintain this high capacity, Polygon staking occurs “off-chain,” with a separate network managing the staking process, further lightening Polygon’s future load on Ethereum.

Where to Purchase Polygon?

The MATIC cryptocurrency in USD, crucial for your Polygon forecasts, is currently accessible on all major exchanges. We advise utilizing regulated exchanges and have provided a list of some below:

Total Fees
Visit Provider
CFDs: Crypto, Indices, Forex, Commodities, Shares, Options, ETFs
  • Support 24/7
  • Fast and reliable order execution
Tight Spreads
No internal deposit fee
• FX • Metals • Indices • Cryptocurrencies • Stocks • Energies
  • Priority Customer Support
  • Exclusive educational materials
  • Enhanced trading analytics
  • Dedicated account manager
Tight spreads starting from 0.0
Depending on payment method
vantage fx
49 global currency pairs, commodities, index CFDs, stock CFDs, ETFs, metals, commodities, energy
  • Open an account in under 5 minutes
  • Trade at home or on the go with MT4/MT5 or phone app
  • Low minimum deposit of $50
Tight Spreads
1:1 – 30:1
No fees
moneta markets
1000+ financial instruments, including Foreign Exchange, Commodities, Indices, Share CFDs, Cryptos, ETFs, and Bonds
  • ECN spreads from 0.0 pips
  • Moneta Markets has regulatory status in one tier-one jurisdiction
  • 3 platforms: MT4, MetaTrader app and next-gen ProTrader
$3 per side for every 100,000 units
70 crypto-pairs, 49 forex pairs (usdzar as well), 5 metals, 26 Indices, 130 stocks, 6 oil and gas, 6 agriculture assets
  • instant registration allowing access to your account
  • usability of the platform
  • almost all popular trading underlying assets in one platform
Spreads from 0.00
3% + inactivity fee

A Concluding Outlook on Polygon

Polygon staking stands out as a top-tier solution to address Ethereum’s scalability challenges, presenting a favorable prospect for investors. Moreover, Polygon’s continual commitment to bolstering blockchain startups and DeFi ventures, evident in its incubator and grant programs, adds further promise.

Future initiatives aimed at attracting more developers to the platform have the potential to enhance the marketability of MATIC, making it more readily appealing to a broader audience.

Our recommendation:
Invest with Plus500

Broad asset selection in equities and options
Free and unlimited demo account
Advanced free-of-charge analytical trading tools
Global and regulated fintech platform