Surely many of you have heard about MATIC, especially in recent times, arrogant entry into the top 20 in recent weeks and one of the cryptocurrencies that has best withstood the dump of recent days.
Going back to May 1st, Matic was worth just under 0.80 dollars, with an ATH of even $ 2.70 recorded on May 18th and now with a ranging price between $ 1.50-1.90.
WHAT IS MATIC?
MATIC is an Ethereum token that powers the Polygon Network, a multichain scaling solution for Ethereum.
Polygon aims to provide faster and cheaper transactions on Ethereum using Layer 2 sidechains, which are blockchains that run alongside the Ethereum main chain.
According to Matic website, "Decentralized Apps are making huge progress but the current blockchain ecosystem is not prepared to scale as per the demand. The issues of slow block confirmations and high gas fees need to be solved before we target mass adoption by mainstream users. And most importantly, it needs awesome user experience. We aim to change that by simplifying the interaction between users and the decentralized world. We want to make interacting with the decentralized ecosystem so easy that anyone can do so without worrying about the complexity of the system."
So, which features made Matic so famous in the last weeks?
- Security : The Chain operators are Stakers and Delegates in the PoS Matic Network;
- High Throughput : There ware more then 65k transactions/second on a single Matic Chain
- DeFi platform : Multiple protocols enabling extensive decentralized finance applications can be hosted on Matic Sidechains.
- Scalability : Realized by using a decentralized Plasma mechanism with finality achieved on main chain.
Matic has also many Use Cases, think about Gaming (Matic can help increase the efficiency of performing transactions of gaming networks over a blockchain. The throughput of transactions such as buying or selling in-game currencies and buying and digital assets can be significantly increased), Payments (Payment transactions on Matic Network can be confirmed in sub-seconds due to faster block generation times while incurring significantly lower fees) and many other situations!
Excited and Interested about MATIC? Find out More HERE -> MATIC NETWORK
