Polygon is a decentralised Ethereum scaling platform that seeks to enable developers to build secure, scalable, user-friendly DApps with low transaction fees. The project offers several Ethereum scaling solutions, the core component of which is Polygon SDK, a modular, flexible framework that supports the development of many types of decentralised apps.
Polygon was launched in October 2017 under its previous name Matic Network, which remains the brand that is used for its token (MATIC). Polygon’s team contributed greatly to the Ethereum ecosystem, with solutions such as Plasma MVP, the WalletConnect protocol, and the widely-used Dagger event notification engine on Ethereum. It has since moved into its own blockchain network in 2019.
Polygon describes its platform as a Layer 2 scaling solution that reduces the complexity of scaling blockchain solutions and facilitates faster blockchain transactions. Using a custom version of the Plasma framework that is built on proof of stake (PoS) checkpoints on the main Ethereum blockchain, Polygon allows each sidechain on its network to achieve up to 65,536 transactions per block. The sidechains created on Polygon are designed to support DeFI (decentralised finance) protocols on Ethereum.
What is Polygon used for?
MATIC, the cryptocurrency of the Polygon network, is mainly used to secure its proof of stake network through several validators, which receive additional MATIC tokens as a reward for staking their tokens.
According to our Polygon price prediction, the anticipated maximum trading price for Matic in 2050 is projected to be approximately $678.04. Our analysis indicates that by the year 2050, it could achieve an average price of around $625.16.
The Changelly Polygon price prediction estimates a maximum price of $1, lows of $0.72 and an average trading price of $0.86 by the end of 2024. 2030 could be the year when Polygon trades at more than $50 for the first time according to a Matic price prediction given by Trading Education experts.
Will Polygon reach $1,000? Polygon would need to gain 137,436.59% to reach $1,000. According to our Polygon prediction algorithm, the price of Polygon will not reach $1,000. The highest expected price our algorithm estimates is $ 118.71 by Jan 1, 2049.
Based on our long-term Polygon Coin price forecast, we anticipated that prices could reach a new all-time high this year. By 2040, the maximum price of the MATIC Coin is projected to be around $31.26. Our average price forecast for Polygon is $30.62 in 2040.
Introduction: My name is Terence Hammes MD, I am a inexpensive, energetic, jolly, faithful, cheerful, proud, rich person who loves writing and wants to share my knowledge and understanding with you.
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