How $3.9 Billion of Staked MATIC Keeps Polygon Secure — Polygon | Blog (2024)

FAQs

Does Polygon have a max supply? ›

How Many Polygon Coins Are There? There are currently 4,952,830,774 Polygon coins circulating out of a max supply of 10,000,000,000.

Who Created Polygon? Polygon was created in India in 2017 and was originally called the Matic Network. It was the brainchild of experienced Ethereum developers—Jaynti Kanani, Sandeep Nailwal, and Anurag Arjun, as well as Mihailo Bjelic.

Ethereum. Ethereum currently uses the proof-of-work consensus mechanism and is gradually transitioning to using proof-of-stake. 10 Polygon uses a modified proof-of-stake mechanism that enables transactions to be processed quickly and cheaply.

Polygon has its own cryptocurrency, called MATIC, which is used to pay fees on the Polygon network, for staking, and for governance (which means that MATIC holders get to vote on changes to Polygon).

Will Polygon (MATIC) Reach $1,000? It is extremely unlikely that we will see Polygon's MATIC token rise to $1,000.

Our market forecast indicates that by 2030, MATIC could reach a new all-time high of $9.12.

Transactions process much more quickly and have lower fees. Polygon has been developed for use with the Ethereum blockchain, but that doesn't mean it's limited to Ethereum. Its sidechains can work with all blockchain technology.

Nemanja Matić (Serbian Cyrillic: Немања Матић, pronounced [němaɲa mǎːtitɕ]; born 1 August 1988) is a Serbian professional footballer who plays as a defensive midfielder for Italian Serie A club Roma.

Polygon Bikes is a bicycle's trade name made by PT Insera Sena, an Indonesian bicycle manufacturer based in Sidoarjo, East Java. Polygon operates manufacturing facilities in various places in Indonesia. Polygon has a globally connected design team, and commonly used as sponsor and its bike in bicycle competition.

MATIC is Polygon's native cryptocurrency. It is an ERC-20 token, a token created on the Ethereum blockchain. This token is used to govern and secure the Polygon network and pay the network's transaction fees.

How is Polygon secured by Ethereum? ›

How Is the Polygon Network Secured? The Matic PoS chain is an Ethereum Virtual Machine (EVM) compatible side-chain secured by a permissionless set of Proof of Stake validators and checkpoints which are submitted to the Ethereum Blockchain.

The native token of Polygon, MATIC, uses a Proof-of-Stake mechanism. This makes it a coin that you can stake and earn rewards from. In conclusion, staking Polygon (MATIC) is usually worth it for the long term. Can CryptoBlades (SKILL) crypto hit $500 by the end of 2021?

The burn will start on Polygon and finish on Ethereum. Polygon provides a public interface that allows users to monitor the burn and initiate a burn once the cumulative MATIC to be burned exceeds 25,000. Polygon has currently burned 545,903 MATIC.

Can matic reach $10? How rich could you get investing in matic? Although most experts have more conservative predictions, Trading Education predicts that matic could rise above the $10 mark to reach $15.13 by the end of 2025. Changelly, however, is more conservative, predicting that the coin won't reach $10 until 2028.

Feb 7 (Reuters) - Polygon, a decentralized scaling platform for the ethereum blockchain, announced on Monday it has raised $450 million in its latest funding round led by Sequoia Capital India and including investments from SoftBank's (9984. T) Vision Fund 2.

In May and June of 2022, the price of MATIC has lost more than 85% since December. Since then, the price has been on the rise, but hasn't made any significant leaps. Based on these trends, it is probably unlikely for the asset to reach $100 by 2033.

As per the 5-year MATIC forecast, the revenue is expected to be around +256.66%. As per the technical analysis, the expected maximum price of MATIC at the end of 2022 may be around $1.188.

The maximum supply of a cryptocurrency refers to the maximum number of coins or tokens that will be ever created. This means that once the maximum supply is reached, there won't be any new coins mined, minted or produced in any other way.

In 2022, WalletInvestor predicts the average price of one token after one year will be 3.29 USD. Similarly, the coin is expected to be worth 11.37 USD in 5 years. The number shows that MATIC can be a profitable investment for long-term investors.

What is the max supply of Polygon Matic? ›

About Polygon

MATIC has a circulating supply of 8.73 B MATIC and a max supply of 10 B MATIC.

The already existing partnerships and successful products are one reason why Polygon should not become obsolete with the introduction of Ethereum 2.0. Apart from that, according to the current knowledge, Ethereum will not be able to reach Polygon's top speeds and prices even after the update.

The Merge is a change in consensus mechanism, not an expansion of network capacity. The Merge doesn't fix expensive gas fees or boost Ethereum's speed, so Polygon will continue to be essential for fast and cheap transactions. “Investors will be able to withdraw staked ETH after the merge.”

While Solana provides major competition to the Ethereum platform, Polygon is just behind it. Solana provides much faster transactions at a reduced cost when compared to Ethereum and Polygon, while Polygon provides faster transaction speeds.

Three reasons why the long-term outlook for Polygon remains positive are its continued adoption by mainstream entities, the migration of multiple projects to the Polygon network and an increase in the platforms offering liquid staking services for MATIC.

How does Polygon Matic make money? Polygon uses a proof-of-stake consensus mechanism to create new MATIC tokens and secure the network. The validators receive more MATIC cryptocurrency for their work, much like other PoS networks.

Matic, which is based in India, has already been making strides in the Chinese market.

The logo of cryptocurrency network Polygon. Sequoia Capital is playing catchup with arch-rival Andreessen Horowitz in the race to invest in what could be the future of the internet — so-called Web3. The Silicon Valley venture capital firm led a $450 million investment in Polygon, a blockchain network.

After extensive research and analysis, Zippia's data science team found that: Polygon has 200 employees.

Polygon has become one of the top blockchain service providers around the globe that has partnered with more than ten top-tier brands. Companies like Coca-Cola, Starbucks, Reddit and others have launched their non-fungible tokens as an introductory web 3 product.

Is Polygon more secure than Ethereum? ›

Polygon is currently working on having this on their blockchain. This doesn't mean the polygon blockchain isn't secure at all. It just means that it is less secure when compared to ethereum.

Polygon is the leading blockchain development platform, offering scalable, affordable, secure, and sustainable blockchains for Web3.

While other Ethereum killers offer an alternative platform for the self-executing smart contracts that are the building blocks of blockchain, Polygon is an attempt to make clogged and overly expensive Ethereum work better. It's a scaling solution designed to offer far more that Ethereum's 12-15 transactions per second.

Yes, always. To transact on the Polygon network, you are charged a fee, which is paid out to a miner who processes and validates the transaction. It is important to note that not all transactions will cost the same amount of gas.

The token acts as a settlement currency for transactions in the Polygon ecosystem. The maximum fixed supply of MATIC is 10 billion tokens. The validators on the network get rewarded with MATIC tokens. Similarly, the token stakers also get rewarded with MATIC according to the value of the staked tokens.

You can earn a passive income by staking your MATIC tokens. All you need to do is delegate them and then claim rewards regularly. You also have the option of staking these earnings for compound interest. Much like an interest rate, the reward for staking can change depending on network conditions.

Staking on Polygon PoS

Anyone can become a validator on the Polygon PoS mainnet and share the non-inflationary network rewards, supporting the next wave of adoption. You can set up your own node or lease to a community node. Your rewards depend on the amount of $MATIC staked and the transactions in the network.

The reason your crypto earns rewards while staked is because the blockchain puts it to work. Cryptocurrencies that allow staking use a “consensus mechanism” called Proof of Stake, which is the way they ensure that all transactions are verified and secured without a bank or payment processor in the middle.

When it comes to buying crypto, there are a lot of factors that come into play, such as location and protocol. Fortunately, you can buy Polygon on Coinbase's centralized exchange. It's quick, secure, and easy. Here's a step-by-step guide on how to buy Polygon.

MATIC currently has a circulating supply of 4,877,830,774 MATIC tokens and a max supply of 10,000,000,000 MATIC tokens.

What are the disadvantages of polygon Blockchain? ›

Disadvantages of Polygon

There are not really any disadvantages to Polygon itself. The main disadvantage would be more competition arising in the form of other scaling solutions, whether for Ethereum or other blockchains.

Users can deposit matic from the Ethereum network, interact with tokens and then withdraw coins back to the Ethereum blockchain. In October 2022, Polygon has a market cap of $7.36 billion, with 8.73 billion matic coins circulating, according to CoinMarketCap. All this bodes well for the future of matic.

Presently, the circulating supply of MATIC is 8,734,317,475 coins, with a maximum supply of 10,000,000,000 coins, meaning we'll never have more than 10 billion MATIC coins in circulation.

Polygon, which raised $450 million through the sales of private tokens in February, currently has around 500 full-time employees that work from remote locations.

Polygon can't be 'mined' in the same way as bitcoin, ethereum, and other cryptocurrencies can.

Polygon uses its own Proof-of-Stake (PoS) blockchain and Commit Chain connectivity to help scale the Ethereum network, and seeks to solve inefficiencies that may hinder widespread adoption of blockchain technology.

MATIC is Polygon's native token. MATIC can also be used for crypto staking and paying transaction fees. Unlike some other cryptocurrencies with unlimited supply, MATIC is limited, and there will never be more than 10 billion coins in circulation.

This means that once the maximum supply is reached, there won't be any new coins mined, minted or produced in any other way. Normally, the maximum supply is capped by the limits defined by the underlying protocol of each digital asset.

Furthermore, the max supply is capped at 10 billion MATIC. The circulating token supply is roughly 7.5 billion of that 10 billion.

In May and June of 2022, the price of MATIC has lost more than 85% since December. Since then, the price has been on the rise, but hasn't made any significant leaps. Based on these trends, it is probably unlikely for the asset to reach $100 by 2033.

Where will Polygon crypto be in 5 years? ›

Polygon Price Prediction 2026

Based on the analysis of the costs of Polygon by crypto experts, the following maximum and minimum MATIC prices are expected in 2026: $5.19 and $4.27. On average, it will be traded at $4.39.

Experts anticipate Polygon to reach around $10 in 2028 depending on who is giving the prediction. It could trade at up to $3 per coin in 2024 based on expertise projections. We think this is a potentially good coin to hold for the short and long term.

Conclusion: Polygon Remains Ahead

The already existing partnerships and successful products are one reason why Polygon should not become obsolete with the introduction of Ethereum 2.0.