Polygon (MATIC)

Polygon (formerly Matic Network) is the first well-structured, user-friendly platform for Ethereum scaling and infrastructure development. Its main element is Polygon SDK, a modular framework that facilitates the creation of many kinds of applications. Polygon can be used to build Optimistic Rollup chains, ZK Rollup chains, Stand-Alone chains, and any other type of infra that the developer requires.Polygon essentially transforms Ethereum into a full-fledged multi-chain system. This multi-chain solution is similar to others like Polkadot, Cosmos, Avalanche, etc. with the benefits of Ethereum's security, active ecosystem, and transparency. The current ecosystem created on the Plasma-POS chain won't change at all.

With Polygon, new features are being created around the already established technology to increase the platform's capacity to meet the various demands of the developer ecosystem. Polygon will continue to improve its core technology in order to expand it to a bigger ecosystem. The $MATIC token will continue to exist and take on a more significant role in the system's security and governance.

MATIC, Polygon's native token, is an ERC-20 token that operates on the Ethereum network. The tokens are utilised for payment services on Polygon as well as a settlement currency amongst Polygon ecosystem users. On Polygon sidechains, transaction fees are also paid using MATIC tokens. 

To know more about the Polygon price prediction, install the top cryptocurrency app CoinGabbar today!