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What makes a promising cryptocurrency? Better yet, what makes a virtual token an attractive investment? Suffice it to say, when combing through the crypto landscape, some of the most popular digital currencies are those that possess a utility. Therefore, one your understand its framework and objective, it is easy to understand why Polygon has become a compelling crypto among today's tokens.
Polygon: A Primer
Polygon, previously known as the Matic Network, is a protocol and framework utilized to construct and connect Ethereum-compatible blockchain networks. Ultimately, it functions as a scaling solution to offer a broad array of tools to enhance the speed and cut down on the cost and intricacies surrounding transactions on blockchain networks.
Polygon is a Layer 2 scaling solution. Put simply, it does not attempt to enhance its current blockchain layer. Instead, it wants to improve other blockchain transactions by employing proof-of-stake checkpoints through the Ethereum main-chain. For example, users can deposit Ethereum tokens to a Polygon smart contract, utilizing them on the Polygon Network and then withdrawing the funds back to the Ethereum main chain. This cross-network interaction is a significant development.
With its customized alternate of the Plasma framework, the technology lets every sidechain on Polygon execute more than 65,000 transactions per block. This is indeed a hefty figure.With its customized alternate of the Plasma framework, the technology lets every sidechain on Polygon execute more than 65,000 transactions per block. This is indeed a hefty figure.
Launched in 2017, Polygon was co-founded by blockchain developers Jaynti Kanani and Sandeep Nailwal and business consultant Anurag Arjun.
MATIC is the native crypto token that maintains a circulating supply of about five billion. Token management is quite unique. In addition to a private sale of 3.8 per cent of its maximum supply, it also has a distribution system within the total inventory.
- Ecosystem Tokens: 23.33%
- Foundation Tokens: 21.86%
- Team Tokens: 16%
- Network Operation Tokens: 12%
- Advisor Tokens: 4%
According to the MATIC schedule, all of the remaining tokens will be released by December 2022.
How to Buy and Sell Polygon on Bitbuy
Is buying and selling Polygon easy enough? We think so. You can begin adding Polygon to your cryptocurrency profile with a few quick clicks on the Bitbuy platform. Ready to get started? Here are a few short steps you’ll need to take.
- Log in to Bitbuy.ca and create an account with your email address and telephone number.
- Verify your identity.
- Once your identity has been confirmed, you can deposit funds into your account with as little as $100 using an Interac e-Transfer or bank wire.
- After your deposit has been completed and verified, you can begin buying, selling, and trading Polygon, or any of the many other digital tokens listed on our website.
Too Technical or Just Right?
Cryptocurrencies, like Polygon, are serving a crucial purpose in cultivating the dynamic cryptocurrency landscape, the smart contract developments, and the overall blockchain technology. Indeed, crypto is still relatively in its infancy period, so the innovations and improvements that these protocols are making will pay dividends in the future. Do you want to join the innovation wave? You can start by buying Polygon today!