Polygon

What is Polygon (MATIC)?

• Polygon is a native token of the Polygon network, aimed at Ethereum compatibility and scalability.

• It addresses blockchain limitations like low throughput and high fees.

• MATIC aims for a multi-chain ecosystem with Ethereum network effects.

Tokenomics

• Total supply capped at 10 billion MATIC.

• Circulating supply: ~9.61 billion MATIC.

• Distribution: 12% Staking Rewards, 23.33% Ecosystem, 21.86% Foundation, 4% Advisors, 16% Team, 3.8% Private Investors, 19% Binance Launchpad.

As of today #{today’s date}, the price of Polygon is ₹47.52 INR or 0.5137 USD, with a 24-hour trading volume of 159306341.39 USD. The market capitalization for Polygon is 5067592012.37USD. The circulating supply is 9897762395.28 Polygon, with the total supply also being 10000000000 Polygon.

Pros:

• Fast transaction processing speeds, with up to 65,000 transactions per second on a single side chain.

• Low transaction fees, typically around $0.01.

• Solid partnerships and corporate adoption, including companies like Disney and Meta.

• Active development and a growing ecosystem of decentralised applications (dApps).

Cons:

• Potential risks associated with the centralisation of the network.

• Competition from other scaling solutions and Layer 2 networks.

• Dependence on the Ethereum network’s success and adoption.

Why Should You Invest in the Coin?

• Potential for mass adoption, strong partnerships.

• Addresses Ethereum's scalability issues and low transaction cost.

• Growing ecosystem for developers and users.

USP of the Coin

• Transforms Ethereum into a multi-chain system, the “Internet of Blockchains.”

• Creation of scalable, autonomous smart contracts and dApps.

Problem the Coin is Solving

• Scalability and high fees on Ethereum.

• Offers scaling solutions like rollup chains and standalone chains for efficient dApps.

Founder and Team Background

• Co-founded by Jaynti Kanani, Sandeep Nailwal, Anurag Arjun, Mihailo Bjelic.

• Strong blockchain background, contributions to Ethereum’s Plasma Framework, WalletConnect.

ICO Price

• ICO in April 2019 at $0.0026 per token on Binance Launchpad.

Risks Associated in Investing in the Coin

• Market volatility, regulatory changes, competition.

• Reliance on Ethereum could impact Polygon due to Ethereum's issues.

Whitepaper Insights

The Polygon whitepaper outlines the framework and architecture of the network, which is designed to create a scalable and interoperable multi-chain ecosystem. The core component of Polygon is the Polygon SDK. This modular framework supports the development of various types of applications, including optimistic rollup chains, ZK rollup chains, and standalone chains.

Polygon’s architecture consists of four layers: the Ethereum Layer, the Security Layer, the Polygon Networks Layer, and the Execution Layer. The Ethereum Layer provides finality, staking, disputes, and messaging, while the Security Layer offers a para blockchain for validator management, rewards, shuffling, and validation. The Polygon Networks Layer is responsible for transaction collation, local consensus, and block production, and the Execution Layer provides the execution environment and logic.

The network utilises a modified proof-of-stake consensus mechanism that allows faster transaction confirmation and lower fees than traditional proof-of-work blockchains. MATIC tokens are used to secure the network through staking, pay transaction fees, and participate in network governance.

Polygon’s vision is to create an open, borderless world where value can be exchanged as freely as information. The network aims to address the limitations of current blockchain infrastructure by providing a scalable solution that can support a global ecosystem of interconnected blockchains.

The whitepaper also discusses the challenges faced by the Ethereum network, such as limited throughput and high gas fees, and how Polygon’s solutions can help overcome these issues. By leveraging the security and ecosystem of Ethereum, Polygon provides a platform where developers can build scalable dApps without compromising on decentralisation or security.

In summary, the Polygon whitepaper presents a comprehensive framework for scaling and developing on the Ethereum network. It highlights the network’s potential to support a wide range of applications and its commitment to fostering an ecosystem where innovation can thrive. The whitepaper emphasises the importance of community governance and the role of MATIC tokens in securing and maintaining the network. With its scalable solutions and robust architecture, Polygon is poised to play a significant role in the future of blockchain technology and decentralised applications.