We introduce the Polygon Network and its native currency, MATIC.
Polygon is a layer two (L2) scaling solution for Ethereum-compatible blockchain networks.
Using a sidechain on layer-2, Polygon is designed to enable cheaper, faster and equally secure off-chain Ethereum transactions.
Polygon's ultimate goal is to build a layer-2 sidechain ecosystem, that is fully interconnected.
Something that they see as the internet of Ethereum blockchains.
Originally launched in 2017 as the MATIC network, Polygon’s native token still bears its original name.
Our guide to Polygon (MATIC) will walk you through the key features of the network and explain what all the fuss is about.
Introduction to Polygon (MATIC)
We introduce the Polygon network and its native MATIC token.
To kick off our guide to Polygon (MATIC), let’s go over the basics of the Polygon network and its native MATIC token.
Let's get started with an introduction to each.
Polygon Network
Polygon is a protocol and a framework for building and connecting Ethereum-compatible blockchain networks.
Built as a layer-2 scaling solution for Ethereum, you can think of Polygon as Ethereum’s internet of blockchains.
Polygon leverages the underlying security of the Ethereum network to make it easier for developers to build and users to trust dApps built on the blockchain.
This means that technically if users were scammed on a Polygon based application, it would be possible to reclaim those lost funds by returning to the base Ethereum layer.
MATIC Token
Powering the Polygon ecosystem of dApps, is the MATIC token.
The MATIC token performs multiple functions within this ecosystem, including:
- Paying for transaction fees (gas).
- Securing the network via staking.
- Voting on governance issues.
MATIC token details:
MATIC Circulating Supply: 6,330,554,997 MATIC
MATIC Total Supply: 10,000,000,000 MATIC
MATIC Max Supply: 10,000,000,000 MATIC
The LeoFinance Crypto Guides project
The Crypto Guides projects is designed to drive organic traffic to the leofinance.io domain by creating quality, long-form content.
This project aims to eventually have a leofinance.io based crypto guide for every single coin or decentralised project in existence.
All written by community members like you!
If you'd like to get involved and earn some LEO in the process, simply find the latest template posted by @crypto-guides and create your own blog using any of the subheadings within.
Just include a link to the template somewhere within your blog and that's it.
All authr rewards are paid evenly to contributors and you might find a whale vote on your blog.
Best of probabilities to you.
Direct from the desk of Dane Williams.
Why not leave a comment and share your thoughts on Polygon (MATIC) within the comments section below? All comments that add something to the discussion will be upvoted.
This Polygon (MATIC) blog is exclusive to leofinance.io.
Posted Using LeoFinance Beta
I am bullish on matic. Provided the kind of growth it has witnessed recently. But I also observed some congestion in the network lately as reported by a project i am involved in. Because of a sudden spike in number of users and transactions. I hope it can keep up with the scalability. Matic has been the ethereum saver.
Also thanks for informing about the crypto guide. I will check it out with patience, and see if I can dive.
Best Wishes
Keep Hiving & Showering Love
Posted Using LeoFinance Beta
and @forexbrokr - I experienced that and it freaked me out, but I think you just need to up the gas fees - and where Matic is concerned that means from 0.001 to 0.004 cents - Once I did that it was all fine!
Also it might have been because of a new project launch, everyone rushing to get in.
Posted Using LeoFinance Beta
Oh so it might be, as the project I was talking about pays for the transaction fees of users. So may be they were paying less. And Users had problems in buying whenever a new asset released.
Posted Using LeoFinance Beta
Ah, that makes sense.
Thanks for sharing :)
Posted Using LeoFinance Beta
Hmm, well this isn't promising feedback for Polygon.
The whole idea of moving transactions off Ethereum itself and onto a layer-2 network such as Polygon, was to stop this from happening.
If it still happens on layer-2, then what's the point?
We'd love to have you creating content for @crypto-guides.
I think all the content for this Polygon guide has now been completed (I just need to edit and publish it into the template).
But as soon as I finish and put up the next template, I'll ping you and hopefully you can contribute.
Posted Using LeoFinance Beta
Yes, may be matic isn't future proof. But it is still free so. I think ETH 2.0 will tank its popularity.
Thanks, I will see if I can find something valuable to say and hopefully contribute.
Thanks and Have some !PIZZA
Posted Using LeoFinance Beta
@forexbrokr! I sent you a slice of $PIZZA on behalf of @shubhwaj.
Learn more about $PIZZA Token at hive.pizza (1/10)
I feel I've lost the train on this one, but who knows, maybe I'll buy on a dip!
Posted Using LeoFinance Beta
Do you have an investment in Cub Defi?
As I commented to you on my previous blog, the LeoFinance team have talked about expanding CUB's reach onto the Polygon network.
If you feel like you've missed the Polygon boat, that could be your chance to jump aboard.
Posted Using LeoFinance Beta
I am staking CUB from the initial airdrop. Beside this I am in 3 farms and 1 Kingdom. And will keep on piling for a long term as I see the project evolves pretty well.
Posted Using LeoFinance Beta
Good to hear you've got those diamond paws ;)
Posted Using LeoFinance Beta
Thanks for the summary of polygon, I have been hearing a lot about it on the LEO discord channel, and this is some great introductory information to get people started.
I think with the new CUB IDO launchpad, more people on LEO finance will start getting familiar with polygon.
Posted Using LeoFinance Beta
No worries.
Just remember that this piece of content is just an Introduction to the network.
Our guide to Polygon (MATIC) features this intro and so much more for you to fully deep dive into.
But yep, interest in Polygon seems to be increasing within the LeoFinance community in anticipation of CUB's move across to the network.
I'm looking forward to it too!
Posted Using LeoFinance Beta
Love Matic and Polygon and all the dApps involved. Specially I like the biggest swap Quickswap and the game Aavegutchi.
I can do a guide about QUICK (token in Quickswap) or GHOST (token in the game aavegutchi) in this format if you want.
Good work of you about Matic!
Minimining
Posted Using LeoFinance Beta
In terms of our Polygon Guide, I'd love to include a 'Best Polygon dApps' section.
We have this Polygon projects to check out while CUB is building post, but I'd love for you to do one specifically for the guide if you're keen?
Include those couple of Polygon dApps which you actually use and recommend yourself.
Just write your own blog using that heading and include a link to the final guide under whatever relevant anchor text within.
Easy and a huge help :)
Posted Using LeoFinance Beta
very good explained
Posted Using LeoFinance Beta
Cheers big Papa.
Remember that this is content for our final what is Polygon (MATIC) guide.
Posted Using LeoFinance Beta
I have been active on Polygon DeFi a few months. The Network seems hit or miss with reliability and having transactions stuck in the que. Growing pains I guess, but seems wise to accumulate Matic
Posted Using LeoFinance Beta
@revise.leo mentioned above that to fix your stuck transaction issues, you might just have to up the gas fees (remember that where MATIC is concerned that means from just 0.001 to 0.004 cents).
Worth trying for those costs anyway.
Posted Using LeoFinance Beta
Writing this Polygon guide has certainly made me more intrigued by the project.
As slow and frustrating as Ethereum is, there's no denying that it is the one people use.
And if they can't scale on chain, then layer-2 solutions such as Polygon, look like they could be the answer.
Posted Using LeoFinance Beta