The Matic coin is an Ethereum-based altcoin that authorises the Polygon network (initially called the Matic network). It strives to deliver a sustainable scaling resolution to problems like high transaction fees and lagging speeds.
Since the Ethereum blockchain is encountering an increased volume of transactions, this has resulted in a serious burden on the network, resulting in reduced performance and improved transaction fees. Therefore, Polygon Matic seeks to enhance the user experience by delivering a Layer 2 mounting solution to the Ethereum blockchain.
With the assistance of smart contracts, Ethereum can be reversed back and forth to Matic coins, allowing a scalable Ethereum ecosystem.
Polygon was originally founded as the Matic network in the year 2017 used sidechaining for the improvement of scalability.
In February of the year 2021, the Matic network was renamed as Polygon and was relaunched to create interconnected blockchain networks that was based on Ethereum.
History of Matic Coin
Matic coin was first released in the year 2017 with the launch of the Matic network. It started with a dream for decoding the Ethereum network’s inherent problems related to its execution and affordability matters.
Since that time, it has been adopted across the world in diverse projects, making it one of the most famous scalability resolutions that is present in the market.
To construct upon its initial triumph, the team behind Matic coin expanded its assistance with a broader vision.
Therefore, in February in the year 2021, the Matic network was rebranded to Polygon, delivering an improved scalability solution, including interoperability in its long-term picture.
Benefits of Matic Coin
Even though many scalability solutions are based on ETH, Polygon has its own distinct set of advantages. Some of these benefits are mentioned below.
Polygon is highly secure due to the frequent checkpoints that guarantee consistency across the trade life cycle. There are instruments for local agreement. It counts as an additional layer of protection to the architecture, and its use of PoS with Heimdall architecture drives it to be more secure than its opponents making it one of the top cryptocurrency to invest.
Use of high-end Features:
Matic uses Plasma, ZK0-Rollups, and PoS that its competitors have failed to include. Heimdall architecture allows for apparent bottlenecks, making it a more scalable resolution.
Polygon is customizable and allows designers experienced in Ethereum-based application development to operate it in the language of their preference. The additional Ethereum layer and the security layer are optional. Solution experts using the Polygon network can thoroughly customize it as per their requirements.
The Future of Matic Coin
Matic coin has bagged many assignments and is a lot more popular than anyone anticipated a year ago. Aave’s current statement to use Polygon to provide assistance has given another stimulus to its vogue.
Another ambitious project, Quarters, will be using Polygon to guarantee faster and more affordable transactions. With SEC permission, Quarters visualises to become the first global gaming currency.