Buy Polygon (ERC-20) (MATIC)
What is Polygon?
Polygon is a "layer two" or "sidechain" scaling solution that runs alongside the Ethereum blockchain - enabling fast transactions and low fees. The native token on Polygon's network is MATIC. This cryptocurrency is used on the network for fees, governance (meaning MATIC holders can vote on changes to Polygon) and strike, among other things.
Usually, the name of the cryptocurrency is a corruption of the company to which the token is linked. In the case of Polygon, this differs greatly from the native token's name, which is MATIC. Originally, Polygon started as a company in 2017 under the name MATIC (hence the name of the native token). In 2021, MATIC rebranded to Polygon.
Ethereum owes a lot to Polygon. Thanks to Polygon, Ethereum is transforming into a fully-fledged multi-chain system (aka Internet of Blockchains). Polygon is effectively transforming Ethereum into This multi-chain system is akin to other blockchains like Polkadot, Cosmos, Avalanche etc. with the benefits of Ethereum's security, vibrant ecosystem and openness.
How to store Polygon
If you wish to purchase Polygon's token, MATIC, it is recommended that you store it in a secure location. One of these safe places is the Anycoin Vault. The Anycoin Vault allows you to quickly and easily buy, sell and swap your MATIC. In addition your funds are protected from third parties and malicious actors, as no one but you can access your funds.
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Why buy Polygon with Anycoin?
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Extra information about Polygon (MATIC)
What can Polygon (MATIC) be used for?
MATIC is mainly used for the following purposes, namely Fees and Staking. In the case of fees, MATIC is used to pay the fees consumed when transactions are made on the Polygon network. The MATIC token is a true utility token and connects participants within the Polygon ecosystem so they can communicate with each other.
MATIC is also used for staking. Polygon uses the Proof of Stake consensus mechanism. This means that Polygon's blockchain is secured by validators who own MATIC. These validators can participate in a staking program on the Polygon network, allowing them to earn staking rewards. Typically, the more MATIC you own, the greater the rewards. In addition, a lot of processing power is used by devices owned by validators to secure the network. these validators receive a reward in the form of MATIC to compensate them for providing security and maintaining the integrity of the network.
Who are the founders of Polygon?
Polygon, originally launched under the name Matic Network in 2017, was founded by Jaynti Kanani, Sandeep Nailwal and Anurag Arjun. During the first years, Polygon mainly contributed to the development and optimisation of the Ethereum ecosystem. Polygon is, among others, responsible for the implementation of the Plasma MVP, the WalletConnect protocol and the widely used Dagger event notification engine on the Ethereum network.
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