Polygon (POL) (formerly MATIC) is a scaling platform for Ethereum that seeks to improve the speed and reduce transaction costs on the network.
Previously known as Matic Network, it was founded in 2017 by Jaynti Kanani, Sandeep Nailwal and Anurag Arjun.
Main features:
Scalability: Polygon uses layer 2 solutions, such as sidechains and Plasma, to process transactions off of the Ethereum main chain, increasing processing capacity.
Interoperability: Facilitates communication between different Ethereum-compatible blockchains, allowing for the seamless transfer of assets and data.
Security: It employs a consensus mechanism based on Proof of Stake (PoS), where validators secure the network by locking their MATIC tokens as collateral.
Utilities:
Decentralized Application Development (dApps): Provides a robust platform for building applications across a variety of industries, including decentralized finance (DeFi), non-fungible tokens (NFTs), and gaming.
Smart contracts: Allows the execution of contracts that are automatically activated when predefined conditions are met, facilitating automated and secure processes.
Fast and cost-effective transactions: Facilitates efficient transfers of value, with fast confirmation times and reduced costs, improving the user experience in financial and commercial applications.
Whitepaper:
The original Polygon whitepaper is available on their official website.
Polygon (MATIC) Annual Price Evolution:
This is a list of the approximate price of MATIC at the end of each year since its launch:
2019: $0.014
2020: $0.017
2021: $2.53
2022: $0.76
2023: $1.20
2024: $0.45 (as of November 22)
* It is a crypto that has had a lot of adoption, although this does not mean that its capitalization will receive large variations, that is something that each one must study and value *