Polygon (MATIC) Live Price and charts Today

1 Polygon (MATIC) Price Today in USD is $1.1072

Polygon (MATIC) = $1.1072 USD

Polygon (MATIC) all-time high (ATH) is $2.8817 USD

The maximum supply of Polygon (MATIC) is 10,000,000,000.00

Polygon (MATIC) 24h volume is $336.88 Million(s) USD

Polygon (MATIC) Market Cap is $10.25 Billion(s) USD

Polygon
$1.1072
+2.85%
Time Interval :
Time Range :
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  • Rank #17
  • Market Cap 2.86% $10,253,552,299
  • 24H Spot Volume -25.36% $336,877,676.92
  • 24H Volume / Market Cap -40.00%+3.00%
  • Circulating Supply 9,260,379,462.69
  • Total Supply 10,000,000,000
  • Max Supply 10,000,000,000.00
  • Fully Diluted Valuation $11,072,496,911
  • API ID polygon copy duigou
  • Project Start Date Oct, 2017
  • Contracts & Explorer(s) coin-img 0x7D1...feBB0
    copy duigou
  • Websites Website
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About MATIC Roadmap & Milestones
Polygon is a Layer 2 scaling solution that achieves scale by utilizing sidechains for off-chain computation and a decentralized network of Proof-of-Stake (PoS) validators.

Polygon is a Layer2 scaling solution that achieves scale by utilizing sidechains for off-chain computation and a decentralized network of Proof-of-Stake (PoS) validators.

At present, the main product of Polygon is Ethereum sidechain. The side chain is an independent chain with separated block parameters and consensus and is connected to Ethereum by a two-way bridge. It supports all the Ethereum toolings so that projects can build an alternative ecosystem on it. The chain is faster and cheaper (1,000 TPS) than Ethereum mainly for two reasons. First, the consensus and validators of the sidechain are separated with Ethereum. Second, instead of the full transactions, it only publishes transaction scripts (Merkle Root) onto Ethereum.

But these advantages also come with some shortcomings. The governance of Polygon is relatively centralized, and the Polygon committee controls billions of funds through Ethereum<>Polygon PoS bridge. In addition, the validators are selected through auctions with capped positions (100), which means the positions could be controlled by funds staking.

Apart from sidechain, Polygon is also developing other Layer2 scaling infrastructures such as Optimistic Rollups, zkRollups, and Validium.

$MATIC is the native token of Polygon, which is ERC20 token. There are two primary uses of the $MATIC token:

  • The token is used to pay for the transaction fees in the network.
  • The token is used for staking to participate in the Proof of Stake consensus mechanism for checkpoint layer and block production layer.

Matic Network was founded in 2017 by 3 Indian founders, Jaynti Kanani, Sandeep Nailwal, and Anurag Arjun, in hopes of solving Ethereum scalability issues.

They were originally inspired from a paper written by Vitalik Buterin, and Joseph Poon, titled: “Plasma: Scalable Autonomous Smart Contracts” 6. About a year later, Matic founder Jaynti worked with developers at Decentraland to create “More Viable Plasma,” a more efficient version of Plasma. This version of Plasma became the basis for the Matic network.
The Matic team originally offered 2 scaling solutions: Plasma chains, and a Proof of Stake chain.

In early 2021 the Matic team rebranded themselves to Polygon, aspiring to become the swiss army knife of scaling solutions, and turning Ethereum into an “Internet of Blockchains”. Something similar to the Polkadot or Cosmos framework.

Polygon also introduced a 4th founder to the team after this name change, Mihalio Bjelic. 

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