What Is Polygon Network (MATIC)? A Detailed Guide (2023)

What Is Polygon Network (MATIC)? A Detailed Guide (1)

Introduction to Polygon (MATIC)

Polygon network’s principal aim is to scale the Ethereum blockchain. Due to an overwhelming rate of adoption and an insufficient infrastructure to sustain this influx and high frequency of use, the Ethereum blockchain can become ‘unusable’. It means that during times with high traffic, users will have to endure high transaction fees, slow transaction execution speed, a high rate of transaction failure, and other unpleasant experiences.

Polygon network consists of a collection of Layer-2 scaling solutions for Ethereum blockchain and anefficient cross-chain that presents an improved experience to users. It also plays a role insimplifying the building process of Ethereum blockchain applications.

Watch this video guide on Polygon network:

Polygon network’s solutions comprisehigh throughput infrastructures that maintain decentralization andpreserve security, with the hope of facilitatingthe adoption of Ethereum blockchain technology.

Polygon network consists of several Ethereum scaling solutions and blockchain development facilities, including;

Polygon SDK

Polygon SDK (Software Development Kit) Polygon SDK makes it possible for developers building on Polygon to use already designed protocols. This makes their development process easier and faster and makes their applications conform to the principles of Polygon network. Developers on Polygon can easily install and use synchronization protocols, consensus algorithms, and other modules from the Polygon SDK. Polygon SDK supports and simplifies the development of independent and secure networks compatible with the Ethereum Virtual Machine (EVM).

Independent (Standalone) networks are built separately from the Ethereum mainnet, manage their own security, and can adopt separate consensus algorithms like Proof of Stake. Standalone networks are relatively less secure but more flexible. The level of decentralization depends on their ability to build a sufficient pool of validators or miners. Polygon SDK’s initial releases mainly supported the development of networks like these. Recent releases are building a support system for Secure networks.

Secure networks depend on Ethereum mainnet for transaction validation, and execution. They utilize Ethereum’s pool of miners to make their network more secure while offering improved scalability and efficiency.


Secure networks are also known as Layer-2 solutions. Layer-2 solutions are a collection of infrastructures designed to take the bulk of transactions or operations on the Ethereum blockchain away from the mainnet. Moving away from the mainnet and utilizing scalability infrastructures gives projects built on layer-2 certain clear-cut advantages, compared to projects built on Ethereum mainnet.

Layer-2 solutions play the ‘exit game’ ingeniously and perfect the shift from Ethereum’s congested layer-1 while ensuring that they retain the level of security and decentralization offered by the mainnet. Privacy and security-oriented projects prefer secure networks to standalone networks.

Polygon PoS Chain

What Is Polygon Network (MATIC)? A Detailed Guide (2)

Unarguably the most popular product of the Polygon network, Polygon’s PoS chain is a sidechain that runs parallel to the Ethereum blockchain. Polygon PoS chain can process about 7,000 transactions per second. Transactions cost as low as one cent. It supports the development of decentralized applications (DeFi and other Utilities), minting NFTs, and every other activity that can be performed on the Ethereum blockchain.

The PoS chain is EVM compatible; decentralized applications initially built for Ethereum blockchain can be easily deployed on the PoS chain without a change in the original code. Polygon’s PoS chain is designed to inter-operate with Ethereum blockchain, other standalone chains, and Layer-2 networks. Assets can be bridged from the PoS chain to any of these networks.

With the reduced security, projects building on the PoS chain will be willing to accept a less secured facility in exchange for enhanced speed, efficiency, and (very much) cheaper transactions.

According to verified data, Polygon’s PoS about 130 million unique wallets have been created on the PoS chain and over 1.3 billion transactions to date. Due to a faster transaction speed and cheaper transaction costs, it has seen an impressive rate of adoption.

Over 150 DeFi projects currently run on the PoS chain; a good fraction of this figure operates on other blockchains as well. Uniswap, first built on Ethereum blockchain also operates on the Polygon network. Other notable migrations include 1inch Network and SushiSwap. It is the fourth largest blockchain in terms of Total Value Locked (TVL) on DeFi platforms.

Polygon Plasma Chain

The Plasma chain is frequently mentioned alongside the PoS chain. But while they share a number of similarities, there are tangible differences. Compared to the PoS chain, Polygon’s Plasma chain shares its root with the Ethereum blockchain and is notably more secure. The Plasma chain differs from Secure networks.It has its own consensus mechanism but relies on the Ethereum blockchain for block validation.

Polygon zkEVM (HERMEZ)

Polygon’s Zero-knowledge Ethereum virtual machine (zkEVM) utilizes layer-2 technology to develop an efficient scaling solution for Ethereum that maintains Ethereum blockchain-level security. At the core of its performance is the Zero-Knowledge Rollup protocol (ZK-Rollup). ZK-Rollup speeds up smart-contract transactions and offers a cheaper transaction cost by mass validating transactions. Instead of executing transactions one after the other, ZK-Rollup packages a set of transactions, validates and executes them at once. Transaction validation is hence simplified, facilitated, and cheaper as a huge number of transactions are validated at once.

(Video) POLYGON (MATIC) - Ethereum's Internet Of Blockchains Explained - Layer 2

Polygon’s zkEVM is EVM-compatible; developers on Ethereum can easily migrate, bridge their projects or build new applications on Polygon’s zkEVM without necessarily making changes to their codes or having to learn a new coding language. Polygon’s zkEVM is currently in development and will go live, after completion of the public testing exercise.

Polygon Network’s Architecture

With these facilities optimized for use on the Polygon network, developers are handed an array of options and the freedom to choose a scaling solution that works best for their project. These solutions are developed to work in synergy and can be interchanged easily.

Polygon network architecture guides the operation procedure of polygon-based applications and blockchains.

What Is Polygon Network (MATIC)? A Detailed Guide (3)

Polygon’s architecture consists of two optional and two compulsory layers. Standalone and secured networks built on the Polygon network are mandated to use the two compulsory layers.

The two compulsory layers are:

The Polygon Networks Layer

The polygon networks layer is the support layer for Polygon-based applications and blockchains. It is a collection of independent blockchain networks. It supports the productions of transaction blocks, sorting of transactions, and the consensus algorithm of the application or blockchain.

The Execution Layer

The execution layer is responsible for validating and executing transactions initiated on Polygon blockchain and other blockchains built on Polygon. Your transactions on Polygon are finanlized by this layer.

The optional layers are mainly used by Secure networks which depend on Ethereum blockchain for improved security and finalization of transactions. They include:

Ethereum Layer

Blockchains and applications on Polygon network can use Ethereum blockchain’s base layer to validate and finalizetransactions, create checkpoints, resolve disputes, and exchange data between Ethereum and Polygon blockchain. Simply put, this layer connects the Polygon network with Ethereum blockchain and is used by Polygon-based applications like secure networks that rely on Ethereum blockchain to validate their transactions

(Video) What is Polygon Matic? A beginners guide

Security Layer

Polygon’s security layer works according to the ‘Validator-as-a-service’ model. Blockchains and applications built on Polygon using the security layer can utilize the security facility on Ethereum blockchain. Using the security layer, polygon-based applications contract miners on the Ethereum blockchain as their validators in return for a pre-determined reward.

Who Created Polygon Blockchain?

Polygon was founded by a team of four – Sandeep Nailwal, Jainti Kanani, Mihailo Bjeli, and Anurag Arjun. Under its former name – Matic network, the first Matic test network was launched in October 2017 to assess the functionality of the plasma chain. Polygon founders envisioned the plasma chain as a competent scaling solution for Ethereum blockchain. Interest in Polygon (then Matic) network grew as Ethereum blockchain’s scalability issues became more obvious.

In an IEO (Initial Exchange Offering) conducted on Binance launchpad in April 2019, Polygon team raised $5.6 million by selling about 1.9 billion Matic tokens to continue developing their Ethereum scaling solution. Matic network mainnet was launched in the second quarter of 2020.

Rebranding from Matic

Despite already making huge progress as Matic network, Polygon adopted its current name in February 2021. The change of name was part of a general rebrand which includes an expansion of the project’s services. As Matic network, the project was only concerned with developing Plasma chains (explained in previous sections). Expanding the project, the development team delved into building more scalability solutions for Ethereum blockchain, including the very popular PoS chain. According to the team, ‘Polygon’ better reflects a collection of several pieces that makes up a uniform network.

What is MATIC Token?

Sequel to the rebranding, MATIC token has retained its ticker (MATIC). MATIC token is the traditional token of the Polygon network. Initially created to tokenize fundraisers for the Matic Network, MATIC token has gained even more utility as the polygon network evolves. Polygon’s PoS chain uses MATIC token as its native token. Transaction fees on the PoS chain are paid in MATIC tokens. Validators on the PoS are also expected to lock MATIC tokens to power their nodes, they are rewarded in MATIC tokens as well. Stakers on Polygon network are also rewarded with MATIC tokens.

What Is Polygon Network (MATIC)? A Detailed Guide (4)

A total of 10 billion MATIC tokens were created; about 19% of the supply was distributed to IEO participants, rest of the supply is distributed as staking rewards to validators and also released in a token supply schedule that spans to December 2022.

Check outMATIC's tokenomics, including the details of token allocation andsupply schedule on CoinGecko.

Where to buy MATIC Token?

MATIC token is listed on most centralized exchanges. Here’s the list of exchanges you can buy MATIC. You can also purchase the token on the DEXeson Polygon’s PoS chain.


From a Plasma chain project; Polygon has evolved into a system of solutions. Efficient solutions.

(Video) What is the Matic Network? - MATIC Beginner Guide

Polygon’s scaling solutions promise huge improvements to Ethereum’s technology. The PoS chain is a healthy environment for new projects or ones already operating on other blockchains that wish to build on a more efficient platform and embrace more cost-effective alternatives. With many solutions still in production and the existing ones in continuous optimization, Polygon is placing itself at the forefront of Ethereum and blockchain adoption.

Learn how toadd Polygon network to MetaMask wallet.

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What Is Polygon Network (MATIC)? A Detailed Guide (5)

Joel Agbo

Joel loves discussing cryptocurrency and blockchain technology. He is the founder of CryptocurrencyScripts.Follow the author on Twitter @agboifesinachi

(Video) Polygon (Matic) Explained! (Beginner's guide)

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What Is Polygon Network (MATIC)? A Detailed Guide? ›


Polygon (formerly Matic Network) is a blockchain platform which aims to create a multi-chain blockchain system compatible with Ethereum. As with Ethereum, it uses a proof-of-stake consensus mechanism for processing transactions on-chain. Polygon's native token is named MATIC.
https://en.wikipedia.org › wiki › Polygon_(blockchain)
network consists of a collection of Layer-2 scaling solutions for Ethereum blockchain and an efficient cross-chain that presents an improved experience to users. It also plays a role in simplifying the building process of Ethereum blockchain applications.

What is Polygon Matic in detail? ›

Polygon, previously known as MATIC network, is an interchain scalability solution that gives an infrastructure for creating blockchain networks that can interface with each other. It intends to bring the adaptability and scalability of alt chains along with Ethereum's security, liquidity, and interoperability.

What does Polygon Matic crypto do? ›

MATIC is the native cryptocurrency of the Polygon network and is used to help drive development across the network and can be used for staking and paying for transaction fees. Users can earn MATIC tokens by providing computational resources and services to the Polygon network.

What is the difference between Matic and Polygon Matic? ›

What is the difference between MATIC on Polygon and Matic on Ethereum? The short Matic (Eth) is an ERC20 token on the Ethereum blockchain. Matic (Polygon/Matic) is the native token on the Polygon blockchain (the secondary scaling solution mentioned above). NFTs can be minted on either of the two networks.

What is the difference between Polygon Polygon and Polygon Matic? ›

Polygon vs MATIC

Whereas Polygon is the network that operates using the Ethereum blockchain, its native token is MATIC. Adding to the confusion, the Polygon Network was previously known as the Matic Network. Following the rebrand, the Polygon organization decided to keep MATIC is its token ticker symbol.

Is Polygon Matic still a good investment? ›

Hence, Matic may be a good buy for holders looking to sell or dump it beyond 2024 when the price could pump by 398.71% based on the above analysis. The cryptocurrency could generate +256.66% in returns by 2025 based on Polygon coin price predictions.

Is Polygon Matic worth investing? ›

According to this price prediction, Polygon could be expected to increase in value by about 115% between the end of this year and 2025. Then, it could increase in value by about another 533% between 2025 and 2030. This would certainly be a solid performance for MATIC, but there are some concerns.

What is the disadvantage of Polygon Matic? ›

Among Polygon's weaknesses are: Not an autonomous blockchain: Polygon is a Layer 2 solution that works atop the Ethereum platform. If the Ethereum platform experiences serious disruptions or ceases to exist, then Polygon would likely lose its value.

Why is Polygon Matic so popular? ›

The growing platform adoption, increasing interest in cryptocurrencies and the wider blockchain industry, the recent partnershipPartnership between Polygon and Reddit, and the ever-increasing interest in DeFi are all contributing to the demand for MATIC.

Why is Polygon Matic so good? ›

In other words, Polygon, formerly known as Matic network, provides an easy framework for new and existing blockchain projects to build on Ethereum without scalability issues. Using Polygon, users can interact with any decentralized application (DApp) without ever having to worry about network congestion.

Why should I buy Matic? ›

Matic allows you to stake on the Ethereum blockchain and also pay for transactions using the currency. This has helped reduce the high transaction costs inherent on the Ethereum blockchain, helping promote widespread adoption.

Who owns Polygon Matic? ›

History. The Matic Network was launched in 2017 by four Mumbai-based software engineers: Jaynti Kanani, Sandeep Nailwa, Anurag Arjun, and Mihailo Bjelic. In February 2021, the project rebranded into Polygon Technology, and began describing itself as a Web 3.0 and metaverse company.

How does Polygon make money? ›

Polygon has its own cryptocurrency, called MATIC, which is used to pay fees on the Polygon network, for staking, and for governance (which means that MATIC holders get to vote on changes to Polygon).

Which is better Cardano or Polygon? ›

Polygon offers faster and cheaper transactions by using a layer-2 scaling solution, while Cardano employs a unique proof-of-stake consensus algorithm that enables high transaction throughput and reduces energy consumption.

Why use Polygon instead of Ethereum? ›

In comparison to Ethereum, Polygon has much lower gas prices and transaction fees. This is due in part to the network's Proof of Stake consensus algorithm, which reduces network energy consumption and costs. Polygon also offers a number of layer 2 scaling solutions that enable quick and low-cost transactions.

What is Polygon Matic and why it matters for Ethereum? ›

Polygon is as platform that connects Ethereum-based projects and blockchains to facilitate their growth and scaling. The MATIC token powers the Polygon network and is used as governance, maintenance, and pay for transaction fees.

Can Matic hit $100 dollars? ›

Polygon Price Prediction: Can Polygon reach $100? At $100, Polygon Matic's Market Cap will be $872 B, not an impossible number in the long run. If Matic were to rise 30% a year, it would take it 18 years to reach $100. That would be the year 2040.

Could Polygon Matic reach $100? ›

And it's important to note that it could take a few years for MATIC to reach $100 or even $10. You should also take into account the fact that crypto is an extremely volatile instrument. It can go up and down in value dramatically, and within a short period of time.

How much will Polygon Matic cost in 2023? ›

Polygon price prediction 2023: Polygon's price for 2023 according to our analysis should range between $1.42 to $2.14 and the average price of MATIC should be around $1.78.

Is Matic a risky investment? ›

Trading Analysis

The risk gauge rank for MATIC shows the coin is currently a low risk investment. Traders focused on risk assessment will find the gauge most useful for avoiding (or adding) risky investments. MATIC has traded -0.58% lower over the past 24 hours to its current price of $1.10.

How high will Polygon Matic go? ›

Polygon Price Prediction 2023

According to the technical analysis of Polygon prices expected in 2023, the minimum cost of Polygon will be $1.49. The maximum level that the MATIC price can reach is $1.79. The average trading price is expected around $1.55.

Is Polygon the next Ethereum? ›

Will Polygon become the next Ethereum? Polygon's close relationship with Ethereum puts it in a unique position. If Ethereum thrives over the coming years, Polygon will likely benefit from it. And because Polygon is helping make Ethereum more efficient, it could draw more users and developers to the blockchain.

Does Polygon Matic burn coins? ›

The burn is a three - step affair, first initiated on Polygon and then completed on Ethereum. This is similar to a withdrawal transaction on Polygon, but instead of the tokens being received by a user, they are burned and removed from the total supply.

What is the risk of Matic? ›

MATIC price is at a risk of a 15% decline if its continues its downtrend, with a target of $0.89.

Will Polygon Matic rise? ›

Based on our Polygon Price Prediction, a long-term increase is expected; the MATIC coin price for 2027 might be around $2.304. As per the 5-year MATIC forecast, the revenue is expected to be around +256.66%.

What is Polygon Matic in next 5 years? ›

Polygon (MATIC) Price Prediction 2029

In 2029, due to the growth over the last 5 years, we will see another major bull, which means that Polygon investors may see MATIC achieve a maximum price of $8.92 followed by an average price of $8.57. The minimum price derived from our technical analysis is $8.23.

What crypto will explode in 2023? ›

Ecoterra (ECOTERRA) – Green Crypto Offering High Recycling Rewards. Metropoly (METRO) – Real Estate Altcoin with Real World Utility. RobotEra (TARO) – Rebuild the Metaverse in a Sandbox-Like P2E World. Lucky Block (LBLOCK) – Vast Crypto Casino With Instant Payouts and a Huge Sportsbook.

Can Polygon reach $1 000? ›

No, our prediction model sees no possibility for Polygon to reach $1000 in the short or mid-term period.

What is the future prediction for Polygon Matic? ›

According to our current Polygon price prediction, the value of Polygon is predicted to drop by -3.89% and reach $ 1.147516 by March 24, 2023. According to our technical indicators, the current sentiment is Bullish while the Fear & Greed Index is showing 63 (Greed).

Is Matic a good long term hold? ›

In 2022, WalletInvestor predicts the average price of one token after one year will be 3.29 USD. Similarly, the coin is expected to be worth 11.37 USD in 5 years. The number shows that MATIC can be a profitable investment for long-term investors.

What will Polygon be worth in 2025? ›

1 Polygon = $1.16
8 more rows

What is the future price of Matic in 2025? ›

Polygon Matic Price Prediction 2025

If the market gets bullish the maximum price of Polygon could be up to $9.36 in 2025. While the minimum price can go down to $6.03. However, if there is any bull rally in 2025, the value of the Polygon coin may break all its previous records and touch a new high.

Is Polygon Matic built on Ethereum? ›

What Is MATIC? MATIC is Polygon's native cryptocurrency. It is an ERC-20 token, a token created on the Ethereum blockchain. This token is used to govern and secure the Polygon network and pay the network's transaction fees.

What happened to Polygon Matic? ›

In just the past hour, the price grew by 0.32%. The current price is $1.14 per MATIC. Polygon is 61.09% below the all time high of $2.92. The current circulating supply is 9,219,469,069.285 MATIC.

Can you convert Polygon to cash? ›

You should see your Polygon (PoS) wallet dashboard and all current tokens bridged to Polygon (PoS). Locate the Ether (PoS-WETH) token and click Withdraw. In the pop-up window, enter your desired withdrawal amount and click Transfer. You'll have to click Continue on three pop-up windows.

Can you cash out Polygon? ›

You can: Withdraw your funds from the Coinbase wallet. Cash out your Polygon funds by using an exchange. Bridge funds on Polygon to a different blockchain.

Is Polygon risky? ›

Polygon appears to be very risky, given 3 months investment horizon. Polygon maintains Sharpe Ratio (i.e., Efficiency) of 0.067, which implies digital coin had 0.067% of return per unit of risk over the last 3 months.

Is Matic better than Solana? ›

Is Solana Faster Than Matic? Both Solana and MATIC have the same peak transactions per second at 65,000. But Solana is ahead in one aspect – block time. This is the amount of time it takes to finalise a block and add it to the blockchain.

Which is better Solana or Polygon? ›

Both platforms offer staking opportunities for investors, with average rewards of around 5.67% for Polygon and 5.91% for Solana. The FTX fiasco has shattered investor confidence.
Solana vs Polygon NFTs.
Negligible gas fees ($0.01 to $0.25)Negligible gas fees ($0.00025)
65,000 TPS50,000 TPS
1 more row
Mar 8, 2023

Which is a better investment Polkadot or Polygon? ›

In terms of transaction speed and scalability, Polygon is currently the absolute winner here. It has the ability to process up to 65,000 tps, which is greater than Polkadot (so far), not to mention Ethereum which is only capable of reaching up to 30 transactions.

What are the benefits of Polygon? ›

Polygon is a decentralised scaling solution that uses Ethereum blockchain networks. It tackles a number of problems faced by the Ethereum network using a parallel blockchain (sidechain) that facilitates faster and cheaper transactions. This allows developers to create secure, user-friendly and scalable DApps.

Is Solana or Cardano better? ›

In terms of price performance over the last year and how well both digital assets are doing compared to their all-time high values, Cardano emerges as the better option over Solana. Where SOL is down 92.44% from its $259 ATH price, ADA is down 89.42% from its $3.10 ATH, data from Messari shows.

How much is Matic in USD? ›

The current value of 1 MATIC is $1.15 USD.

Is Polygon an Ethereum killer? ›

While other Ethereum killers offer an alternative platform for the self-executing smart contracts that are the building blocks of blockchain, Polygon is an attempt to make clogged and overly expensive Ethereum work better.

What can you do with Polygon Matic? ›

What is the Polygon MATIC token used for? MATIC is Polygon's native cryptocurrency token. Polygon plasma chains run on the PoS consensus mechanism. MATIC will be used to pay for all transactions on the plasma chains.

What is Matic for dummies? ›

The MATIC token is an ERC-20 token that powers the entire Polygon ecosystem. It's used to pay for gas fees, for staking, and for governance. As per CoinMarketCap, there's a current circulating supply of 7.48 billion MATIC tokens, with a max supply of 10 billion.

Does Polygon Matic have a future? ›

After the analysis of the prices of Polygon in previous years, it is assumed that in 2024, the minimum price of Polygon will be around $2.32. The maximum expected MATIC price may be around $2.82. On average, the trading price might be $2.39 in 2024.

Is Polygon better than solana? ›

Between Polygon crypto vs Solana, which one should you choose? Polygon offers a much better way to interact with the Ethereum network, making the process robust. On the other hand, Solana is great for users who want the absolute best in cost and scalability.

What is the advantage of Matic? ›

Clients who accept their tokens on the MATIC Sidechain can move them rapidly and cheaply within the network. This means that doing a decentralized trade on MATIC to give or exchange liquidity will cost the customer cents rather than hundreds of dollars.


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