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What is Polygon

¿What is Polygon?

Polygon is an ecosystem that seeks to modify the drawbacks of the course cavity in Ethereum transactions per second.

It was developed by Jaynti Kanani, Sandeep Nailwal and Anuurag Arjun, it was released in October 2017 under the name Red Matic.

Also in 2019 it was decided to call the project Polygon, without changing the name of the token.

In turn, Polygon has its own native token called MATIC, it is an ERC-20 model token and it is built on top of the Ethereum blockchain.

You can use this token for validators to enter into proof of stake consensus to secure the chain.

Also, this token can pay for the commissions of the transfers you make.

¿What does it offer?

It proposes to solve the problem of scalability, in this way usage progress is managed without decentralization being affected.

Likewise, it inquires about the use of the developer company, its participation in improving the development of the decentralized application and the advancement of the netizen’s experience.

¿How does it work?

Polygon is executed by means of a chain that communicates with the Ethereum network, granting a greater operation of the Blockchain.

It uses the plasma framework, a framework that enables easy execution of scalable and autonomous smart contracts.

A technology similar to Bitcoin’s Lighting Network, which in turn makes bidirectional bridges with Ethereum, approving the intervention between networks.

Similarly, Polygon does not only intervene in the connection with the Ethereum network.

It can also be related to other blockchain networks, relating a connection architecture.

¿How is Polygon regulated? 

Being a decentralized network there is no financial institution that regulates it.

¿Why do people use Polygon?

People use Polygon as it is widely used by countless businesses and blockchain users to run trades.

Also, Polygon Matic is one of the most popular projects, since it solves the scalability problems of cryptocurrencies such as the Ethereum network.

¿How is Polygon different from other projects?

Unlike other projects, Polygon has very low costs.

Look for solutions to scalability problems, acquiring more range of transactions per second.

Likewise, its architecture gives access to the dapps in Polygon to communicate in two directions with Ethereum.

¿Where can I buy it?

One of the ways where you can buy MATIC is through Binance as it has a large tradable variety in trade, you can exchange a cryptocurrency, fiat cryptocurrencies or simply use a debit or credit card to buy the stablecoin, deposits are also allowed banking.

https://www.binance.com/

¿Where to find more information?

For more information such as movements, prices, explorers, contracts and more you can visit the following link: https://coinmarketcap.com/

Did you know that you can buy and sell USDT and BUSD online thanks to Gastcoin Gateway?

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