Polygon (MATIC) has joined the Blockchain Bridges program to explore new opportunities for this asset-backed cryptocurrency. This can be an exciting and profitable partnership. Let’s dig into what you need to know about the Blockchain Bridges project and how it works with Polygon (MATIC) to make everything crystal clear.
How will Blockchain Bridges benefit you?
Blockchain bridges are a way for two blockchains that are on different networks, or even different protocols, to communicate with each other. This will allow people using the two chains to transact with each other and also perform cross-chain operations. Polygon is one of these crypto bridges that will be able to support Ethereum transactions, which means you can use your Ethereum wallet address when sending or receiving coins from the Polygon network.
Since Polygon is a bridge between two blockchains, it will allow people using ERC-20 tokens on Ethereum, which is one of the most commonly used tokens for ICOs, to easily send or receive those tokens from other currencies like Bitcoin. While you’ll be able to do that using other networks like Ethereum Classic or Komodo, they don’t have as large of a community behind them.
The History of MATIC
Matic Network is a Layer 2 scaling solution that provides the fastest transactions with the best user experience by implementing off-chain scaling. Matic will also be one of the first projects integrating cross-chain bridges into their network, meaning any type of cryptocurrency can interact with each other.
The Matic Network is a Layer 2 scaling solution, which basically means it implements off-chain scaling. The project recently partnered with the Decentralized Identity Foundation (DIF) and Chainlink to create a cross-chain solution that will allow users of any blockchain to transact with any other blockchain. This feature is an essential piece in creating applications on top of multiple blockchains. Users of Matic can already send Ether from their ETH wallets directly onto their apps without having to go through an exchange.
We are a crypto company that focuses on bridging the crypto world with the real world through a cross-chain bridge. We are not just another crypto coin, but a complete ecosystem for developers, merchants, and users.
The Future of MATIC
Matic Network is a second layer scaling solution for Ethereum that increases the transaction capacity of the Ethereum network by enabling faster transactions through a side chain. The Matic team has now announced the launch of their own crypto token called MATIC. The token will be released on February 25th, with an initial coin offering scheduled for March 1st.
Through its ICO, Matic will be selling $20 million worth of MATIC tokens. The sale will be in two phases - pre-sale and main sale. During these sales, users can purchase MATIC tokens at discounted prices. Any unsold tokens from these sales will be locked for a year. Of the total supply of 1 billion MATIC tokens, 20% is reserved for investors during both token sales. Another 30% is held by Matic Network while 40% is given to early contributors like advisors and employees.
