- Compatible to Ethereum!
- Layer two solutions and it also aims at usability concerns along with securing transactions on blockchain.
What is Matic Network? Matic Network is native token of Polygon. After reshaping the polygon it retained the Matic network. Matic network is available on various exchanges. A Polygon is a figure with 4 or more sides along with angles.
Matic Network is native token of Polygon and its current price is $ -0.0240. This crypto token can be bought from centralized as well as decentralized platforms. In order to invest in it you should know perfectly what it is and how does it work?
How does it work?
It is a multi-levelled platform with an intention to grow along with Ethereum by using various kinds of nodes, that will help in unclogging the platform cost-efficiently and effectively.
Therefore it’s motive to link through various networks will be done. Networks like Polkadot,Cosmos,Avalanche,etc. Talking about the compatibility , it is compatible with Ethereum Virtual Machine.
It is easy work on it , who used to work with Ethereum before. Polygon tokens can be used to vote on improvement of proposals and participate in network governance.
10 billion is the maximum supply limit of Polygon. In order to trade or exchange tokens , there are some protocols that are used. Uniswap is the one decentralized protocol used for exchanging tokens without involvement of middlemen between the trade.
Rival of Matic Network; Blockchain:
The biggest rival is RenQ Finance, it is a decentralized platform that seeks to link all the cross chains and blockchains to create asset exchange chains. Basically it helps in solving the problem of liquidity in a decentralized market.
Since its developers are keeping a close eye on its development. There is always a threat to the Polygon blockchain.There are some of the positive points in Polygon (Matic)- Speed of transactions and cost efficiency (low transaction cost).
Highlighting the main negative points are- it is not governing or controllable and it is not for everyday purchases.
Blockchain– it is secondly scaling solution along with agreeable and peaceful with Ethereum ERC-20. It also aims at developing and improving the blockchain of Ethereum. It helps in communicating between Ethereum and blockchains other than ethereum.
So summing up of the above, Matic Network is native token of Polygon and Polygon is platform which is agreeable with Ethereum blockchain. Polygon supports and helps in improving the network of blockchain with ethereum.
It is very good in speed, it also works with PoS- Proof of Stake like Ethereum. Since Polygon is not used everyday the cost of transaction is also low. And therefore it is said to be cost efficient.
How to buy it? If you are willing to buy Matic token, you should first sign in or create a wallet in any of the crypto exchange markets. After that you can trade it over and can fund your wallet and buy a token.
In this article, you will be able to understand what is Matic Network? How did it come into existence ? How is it related to Polygon? Which blockchain is used by Matic Network? How is it compatible with Ethereum? What are its positive and negative impacts? How to buy Matic?