Polygon to Dirham
1 MATIC 4.13 AED
-0.09 (-2.25%) today
to Converter
Live Polygon Chart
Trends over time
1 Day
4.22 AED
(-2.25%)
1 Week
4.28 AED
(-3.71%)
1 Month
5.55 AED
(-34.53%)
1 Year
5.45 AED
(-32.05%)
What Is Polygon?
Polygon is a protocol operating as a second layer or sidechain that runs alongside the Ethereum blockchain. It acts as an add-on layer providing a scaling solution to Ethereum.
Due to its interoperability with smart contracts, Ethereum is the stage of a wide variety of significant activities, including DeFi and NFTs. But despite its elegance, scalability is a major problem for the Ethereum network, which can only process 15 transactions per second. As a result, transaction costs (gas fees) rise to the point where making investments may become unprofitable from an economic standpoint.
Polygon aims to lower the price and complexity of Ethereum transactions while increasing the speed of operations.
MATIC is the native currency of Polygon used by network members to settle fees incurred on the platform.
Is Polygon a good investment?
Polygon has been headlined lately as the crypto assets making waves in the industry. Initially created to tackle Ethereum's scalability issues, Polygon has grown into a self-sustaining ecosystem.
Polygon already employs the proof-of-stake consensus method, which is less resource-intensive than the proof-of-work Ethereum currently uses.
In terms of computation and blockchain interoperability, Polygon has a bright future and is one of the most intriguing initiatives presently accessible. With a broad range of developer tools, advanced technology, and full support for the Ethereum Virtual Machine (EVM), the Polygon ecosystem will continue seeing an inflow of projects emerge.
Historial growth of Polygon
In recent months, Polygon has seen rapid growth, with its market valuation rising from $40 million to over $6 billion. A group of individuals who worked on several projects related to the Ethereum ecosystem started Polygon in October 2017 under the name Matic.
In February 2021, Polygon (MATIC) changed its name from the Matic Network to the one it has today. The ERC-20 token had a significant price surge during this period, rocketing from $0.0175 to $0.446 on March 12th, a 2,548 percent increase in value.
2021 witnessed the announcement of many cryptocurrency projects shifting to the Polygon network, enabling their applications to expand beyond the constraints of the Ethereum main net.
How and when to buy Polygon?
To invest in Polygon's currency, you must choose an exchange and a financing source. Binance, Coinbase, and Gemini are some of the best exchanges to get started with because they have minimal transaction costs and are straightforward to use. Sign up on your preferred cryptocurrency exchange if you don't have an account. Then, link your account to a funding source, such as a bank account or a debit card. You'll need to enter the MATIC symbol and the amount of money you want to invest. You can also swap if you have other cryptocurrencies in your account.
Interested in Polygon?
Invest in Strategies related to Polygon
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