They aim to increase the approval speed with blockchain using new technologies by reducing transaction fees as much as possible. They want to build platforms that are both user-friendly and cost-effective. The protocol was originally developed for programmers. Unlike the Ethereum network, it aims to bring together the concepts of collaboration, security, scalability and community and solve the problems in the Ethereum network. Tokens staked as collateral in the Matic chain operators PoS system provide security in the network. While the name of the token was Matic Network before, it was later changed to Polygon.
It is the 21th most valuable cryptocurrency with a market value of close to 7 billion dollars. There are 6,672,300,637 MATICs on the market. Over the years, the total supply is expected to approach 10,000,000,000 MATIC. Polygon, formerly Matic Network, was first launched with Binance Launchpad.
Matic Network's sidechains are public. Since it is open source, dApps (decentralized applications) can be created on the network. DApps created on the Ethereum network can be moved to Matic Network, copied. This is how they provide transaction facilitating solutions, payment Softwate Development Kit and APIs, Matic Wallet and identity solutions. With WalletConnect, native mobile applications and SDK can make seamless UX for user experience. The Matic network is completely decentralized. Unlike Ethereum layer 2 projects, the user experience is very high in Matic Network. UX operations on the network can be done offline, thus further increasing the security of the network.
People such as Anthony Sassano, Sean Adams, Hudson Jameson, John Lilic, who are known and respected names of the Ethereum ecosystem, are consulting the Polygon project. Polygon is also the project developer of Easyfi, Aavegothchi and Polymarket platforms. In all these projects and platforms, the MATIC token is used as a utility token.
In Matic Network, users are given credit points by evaluating their previous transactions. When users with high credit scores are short of money, users in the network are given tokens as a loan. This process uses Dharma protocol in Matic Network.
To rank the dApps in Matic Network:
Quickswap
Polymarket
Quarters
CryptoControl
Tradestars
Battle Racers
Decentral Games
Stacks City
Chainguardians
Tradelink
DocBlock
Sapien
CryptowarriorZ
Injective
0xUniverse
0xRacers
0xWarriors
Worldopo
Hxro
Spells of Genesis
Moonshot
Zawadi
Ispolink
Somnium Space
Showcase
Opucoin
Blocklords
Ginete
Badbit
Light Trail Rush
FINETs
Terra Virtua
Ethernal
Blockchain Cuties
Crowdclick
Alethea AI
OroPocket
Cartesi
All of these decentralized applications serve different purposes. The dApp, Polymarket, which allows to take advantage of the power of free markets. Quarters is the world's first SEC-approved gaming currency. Tradestars is introducing Polygon into the NFT market. It comes across as a fantasy sports game where they can own, create and trade NFTs that represent real-life sports personalities.
The most used dApp among them is QuickSwap. On the decentralized cryptocurrency exchange available at https://quickswap.exchange/, Erc20-based tokens can be exchanged very quickly for very low gas fees. Layer 2 is used in QuickSwap.