What is Polygon (MATIC)?

Ever heard the complaint that the most popular blockchains are still way too slow and expensive to be usable for everyday transactions, like buying groceries? Well, it's true - and the team at Polygon was so annoyed with the problem, that they are solving it. The result is the Polygon ecosystem, where transactions are fast and cheap, but with a large twist: Everything is still compatible with large chains like Ethereum. Think of it like getting into the fast lane at the super market registers. You'll be checked out in no time, using their token "MATIC" to pay, while you wait for your friends using Ethereum in the car, listening to your favorite tunes. And Polygon is doing well in attracting everyday use cases: They work with Nike on NFTs, and just announced that Warner Music will partner with them for a Web3 music platform.
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MATIC
No value0% last 7 days
5
Cryptohunt's Opinion

Our take on Polygon

We’re not going to downplay it…Polygon is an absolute powerhouse. On their PoS Chain, their most well-known Ethereum scaling solution, their low gas fees and fast transaction times are spectacular. They’ve also committed to being carbon neutral in 2022 and carbon negative in 2023, something that we’re massive fans of. What truly separates Polygon from the rest of the pack, though, is its deep commitment to connecting well-known brands with crypto. Nike, Starbucks, Instagram, Reddit, etc all have partnered with Polygon to provide Web3 experiences to their customers. If there is anyone leading the pack of blockchains and scaling solutions bringing crypto to the masses, it’s Polygon.
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Written by Learn.xyz
How Polygon connects brands like Nike and Instagram to Web3
Intermediate
•
10 min
•
3 lessons
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dnmadh +24 more took a lesson in this course

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Listen to "What is a Sidechain?"
Ever wondered why there are blockchains like Polygon, that magically work on top of larger ones like Ethereum? Welcome to the world of Sidechains. · 2 mins
What makes Polygon special?
Polygon is a powered by, uses to validate transactions, and is. Polygon also supports.

Interesting facts about Polygon

Here are some facts you may not already know about Polygon. Something surprise you? Go ahead, share it!Any fact missing? Contact us.
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Nike uses Polygon for their upcoming NFT community

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Polygon was previously called Matic Network

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Polygon and Warner Music are working on a Web3 music platform

Polygon reviews from the Learn.xyz community

Dive deeper into the different opinions about Polygon and learn how others feels about it.
Polygon
Positive review
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0xBrettH
9 mo. ago

What's really cool about Polygon is that they provide a set of different scaling solutions for Ethereum so that developers can pick and choose what they want to include in terms of security and transaction speed.

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Polygon
Positive review
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Arndt
9 mo. ago

At first, I didn't get it, just browsing their site. But it's pretty genius actually - sidestep Ethereum with all of its problems while maintaining compatibility. It really clicked for me when I saw that OpenSea (the NFT marketplace) allows you to mint NFTs on Polygon - which means very low transaction fees, but I can still move my art into Ethereum if (for some insane reason) it becomes valuable in 2029.

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Polygon price and insights

See how much Polygon is worth and learn from other insightful metrics
No value
-0% past 1 week
24H30D
Community Reviews
Based on 5 community reviews
Market insights
Market capitalization
Very small
24 hour trading volume
Very small
Market cap % of total
Very small
Project health
# Discord members
334
7% of them are active
# Telegram members
66,631
3% of them are active
% of total supply circulating
Very small

What’s the community like?

Community matters for projects like Polygon, because an active community drives the development of use cases for a blockchain project. The more people are active, the better to have healthy discussions and create something valuable.
# Discord members
334
# Active Discord members
23
# Telegram members
66,631
# Active Telegram members
1,870

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