Polygon, initially known as the Matic network, was developed by Jaynti Kanani, Anurag Arjun, and Sandeep Nailwal. The protocol made its debut in 2017, catering to blockchain enthusiasts and the DeFi ecosystem. Since then, it has experienced significant growth as an Ethereum scaling and infrastructural development network, reaching a market capitalization of $19 billion in 2021. This article aims to provide a comprehensive overview of Polygon, covering aspects such as the Polygon crypto (MATIC), the Polygon ecosystem, the Polygon Matic roadmap, the recommended crypto exchange for MATIC, and a step-by-step guide on how to swap ETH to MATIC.

Polygon Exchange Rate

MATIC by TradingView

What is Polygon (MATIC)?

Polygon, an open-source protocol, is designed to address scalability and infrastructural development challenges within the Ethereum blockchain. Put simply, it serves as a platform that enables developers to construct and interconnect blockchain networks that are compatible with the Ethereum protocol. Polygon's primary objective, as outlined in its whitepaper, is to tackle the scalability and usability limitations of the Ethereum network without compromising decentralization. It achieves this by leveraging the existing Ethereum developer community and ecosystem while providing solutions to enhance scalability, user experience, and overall network efficiency.

Polygon, often dubbed as Ethereum's "internet of blockchains," utilizes multiple sidechains to facilitate transactions that are more cost-effective and faster compared to the main Ethereum blockchain. This approach allows for enhanced scalability and improved transaction speeds. Furthermore, Polygon's team has a vision to extend its reach beyond the Ethereum ecosystem, indicating plans for future expansion into other blockchain networks. By broadening its compatibility with diverse ecosystems, Polygon aims to enhance interoperability and create a seamless experience for users across multiple blockchain platforms.

Key features of the Polygon (MATIC) project

The Polygon (MATIC) project is a composite group of features, including:

MATIC coin

Although the protocol has changed its official name from MATIC network. The native utility token of Polygon still retains its original name. MATIC coin is an ERC-20 standard token used as a unit of payment and settlement for users within the MATIC network main-net and throughout the Polygon ecosystem.

You can earn MATIC tokens by offering computational resources and services to the Polygon network. Also, it is possible to stake MATIC coins via exchange protocols to earn interest or indicate the user’s commitment to the process. Also, MATIC tokens could serve as an effective deterrent for punishing dishonest stakers who commit offenses such as illegally verifying blocks, invalid blocks, or invalid transaction executions.

Polygon Solutions

Built by savvy developers in India, Polygon offers an array of essential solutions to its users. It offers up to eight different scaling options for decentralized applications on the Ethereum network to address various throughput issues. These scaling solution options include Polygon PoS, Polygon Hermez, Polygon Avail, Polygon Edge, Polygon Nightfall, Polygon Miden, and Polygon Zero.

With over 1.3 Billion transactions and over 2.7 million monthly active users on the Polygon protocol, Polygon PoS, is the flagship solution and the most popular among Polygon’s pack of solutions. It assists developers in launching their web3 project to a global audience with a high transaction speed, secure framework, and at a low cost. As the DeFi ecosystem grows, Polygon’s developers expect its use cases and solutions to continue growing by providing cheap throughput solutions to ease transaction demand on the main Ethereum network.

Polygon Ecosystem

Since its launch in 2017, Polygon has successfully built an ecosystem that currently supports over ten thousand decentralized applications on its second-layer and open-source technology through smart contracts. On its official website, Polygon attributes this success to its low fees, high scalability, and a standard of security that matches the highest standards in the industry. Today, the Polygon ecosystem consists of developers, block producers, stakers, and growing users.

Polygon (MATIC) Roadmap

Polygon (MATIC) has a comprehensive roadmap that outlines its future plans and developments. As of now, some of the key milestones on the roadmap include the expansion of Polygon's technology stack with features like Layer 2 aggregation and interoperability solutions. They are also focusing on enhancing developer tools and frameworks to encourage more adoption and building on the Polygon network. Additionally, Polygon aims to further optimize its infrastructure, improve security measures, and explore integration with other chains beyond Ethereum. The roadmap demonstrates Polygon's commitment to scalability, interoperability, and continuous innovation to meet the needs of the evolving blockchain ecosystem.

How To Buy Polygon?

You can buy MATIC on Swapzone, an instant exchange aggregator. Swapzone provides users with the option to choose from 15 different exchanges, allowing them to complete the MATIC exchange with the best offers.

How To Swap ETH to MATIC?

Need to buy MATIC with ETH? Look no further, Swapzone is one of the most convenient exchanges to swap MATIC in the market. We provide best real-time swap offers and discounts. Here is how you can convert ETH to MATIC coin:

  • Visit the Swapzone website.
  • Select the proper pair (ETH to MATIC).
  • Enter the amount of ETH you want to exchange for MATIC. The aggregator will find the best offers available for you.
  • Click the ‘Exchange’ button to go to an exchange platform
  • Input the address where you want to send the MATIC coins.
  • Send your money to the address you typed in.
  • Go to ‘Proceed to Exchange’ and, if you want, leave a review of the website where you completed your exchange.
  • Allow for the processing of the deposit and the completion of the MATIC exchange.
  • Your coins should be in your wallet once the process completes.

Frequently asked questions

Is it worth buying Polygon crypto?


The Swapzone team conducted a research analysis on the price of Polygon (MATIC). This study involved examining various factors such as market trends, historical data, and potential future developments. The purpose of the research was to provide insights and information to assist individuals in making informed decisions regarding MATIC. However, it is important to note that market conditions are subject to change, and the findings of the analysis should not be considered as financial advice. Individuals should conduct their own research and consult with professionals before making investment decisions.

Why is Polygon so cheap?


In order to reduce gas expenses, scaling solutions such as Polygon implement the processing of transactions on side chains. This strategy allows Polygon to efficiently handle a substantial volume of transactions, with a potential capacity of up to 65,000 per second. In comparison, Ethereum, without these scaling solutions, can only process approximately 17 transactions per second. By utilizing side chains, Polygon significantly enhances transaction throughput while minimizing the costs associated with gas fees.

Which is better Polygon or Ethereum?


Polygon takes the lead in transaction validation speed over Ethereum, with an impressive capability of handling up to 700 transactions per second. Comparatively, Ethereum's average transaction rate stands at a modest 10 transactions per second. As a direct consequence of its faster processing, Polygon offers substantially lower gas fees, with trades costing only around $0.01. This is in stark contrast to the average fee of $14 on Ethereum for a trade conducted on Uniswap v3 during the year 2022. By leveraging its superior transaction processing capacity, Polygon provides users with a cost-effective and efficient platform for their trading needs.

Is Polygon a good long term investment?


While Polygon shows great promise as an Ethereum scaling solution, it's important to note that there are associated risks. Additionally, Polygon has already achieved significant market capitalization, which could potentially limit its future growth potential.

Is MATIC a good stock?


Matic is a cryptocurrency rather than a stock. The cryptocurrency market can be highly volatile and unpredictable, so it's crucial to consider your risk tolerance and investment goals before investing in any digital asset.

How many MATIC coins are left?


As of writing, MATIC has a circulating supply of 4,877,830,774 tokens and a maximum supply of 10,000,000,000 tokens.

How many people own Matic?


As of time of writing, according to Polygonscan, there are 94,376 MATIC holders.

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