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Why Polygon (MATIC) Is A Good Crypto to Buy & Invest In

Why Polygon (MATIC) Is A Good Crypto to Buy & Invest In
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Cryptocurrency and technical writer.

Ethereum suffers from a scalability problem; As we all know, gas fees can get expensive, running into hundreds of dollars once you bypass the network with transactions.

This is where Polygon (MATIC) steps in, allowing users to access Ethereum DApps without having to deal with high gas fees and slow speeds.

This post will look at why Polygon (MATIC) is a promising cryptocurrency that any serious investor should consider.

If you decide to invest in Polygon (MATIC), I would recommend using a cash-based exchange platform like CEX (Users Worldwide and USA) or Bitpanda (Europe only) It allows you to easily buy and sell cryptocurrencies for cash.

What is a polygon (matic)?

Polygon (MATIC) is a second layer scaling solution for Ethereum. It also serves as a platform for building and interconnecting networks of blockchains compatible with Ethereum.

Polygon started in 2019 as the “Matic Network,” with the main goal of expanding the reach of Ethereum. In 2021, the protocol was renamed “Polygon,” and its vision expanded to include building and interconnecting Ethereum-compatible blockchains.

Polygon reduces transaction fees on the Ethereum network while dramatically increasing transaction speed. The protocol enables instant transactions that cost a fraction of a penny ($0.002).

Polygon’s focus on scalability is what makes it so attractive to decentralized applications running on the Ethereum blockchain.

Uniswap, for example, announced that they had published Uniswap V3 on Polygon On December 22, 2021.

How does polygon (matic) work?

Polygon (MATIC) uses a variety of technologies to create a fast and highly scalable Layer 2 blockchain network:

  • Proof of Stake System – Users validate transactions by setting their MATIC. Users can run a full node as a “validator” or they can delegate MATIC to a trusted validator.
  • Polygon Protocol – The protocol that enables the Polygon and Ethereum-based blockchains to communicate with each other while inheriting the security of Ethereum.
  • commit strings – Transaction networks that work in tandem with the Ethereum blockchain, pool transactions together before they are confirmed and data back into the mainchain.
  • polygon frame – A one-click system for deploying Ethereum-compatible blockchains using the Polygon SDK.

The Polygon cryptocurrency MATIC is used for the following purposes:

  1. Outlay – MATIC is used for transaction fees and is paid as staking rewards to validators.
  2. Staking – Users can share MATIC to validate transactions or delegate MATIC to validators.
  3. stacking ecosystem – Polygon plans to enable staking of projects in the Polygon ecosystem in the future.

Popularity of Polygon (MATIC) in Decentralized Finance (Defi)

Defi has emerged as a popular tool for Polygon Network due to its very low fees and instant finish. This could bring a lot of adoption to Polygon, as according to Bloomberg, Defi is now a more than $100 billion industry.

Combine this with Polygon’s ease of use, speed, and affordability, and you’ve got a potential market leader in the making.

To use Defi Apps on Polygon, users need to connect their Ethereum assets to the Polygon network. If you want details on how to do this, I recommend reading Polygon Investment Analysis (MATIC).

Popular DeFi applications on the Polygon Network include:

  • QuickSwap – Popular DEX on Polygon
  • Aave – A platform to lend, borrow and earn interest on assets
  • Curve Finance – aggregators of liquidity and stablecoin trading.
  • Adamant Finance – Yield Cultivation Optimizer & Automatic Ingredient
  • AutoFarm – Growing Yield Optimizer & Automatic Component
  • Beefy Finance – Yield Cultivation Optimizer & Automatic Ingredient
  • 1 inch – DEX with liquidity pools to earn interest
  • SushiSwap – DEX with pools of liquidity
  • DFYN – DEX with liquidity pools

As mentioned earlier in this post, Uniswap V3 has also been published on Polygon. This will bring a large number of DeFi users into the Ethereum Polygon ecosystem, where they can benefit from significantly lower fees.

Polygon (MATIC) builds a ZK-Rollup solution

Polygon announced on its official blog that it has acquired Zero-Knowledge startup Mir for $400 million. Mir team join Polygon and use their technology to build their new project – zero polygon ZK-Rollup is highly scalable and compatible with Ethereum.

In my last ZK-Rollup crypto post, we saw how powerful a combo can be for making profits as an investor.

ZK-Rollups is poised to be the next big cryptocurrency combo, and Polygon appears to be a great choice for investors in that combo, and here’s why:

  • Mir, acquired by Polygon, has developed the world’s fastest ZK sizing technology.
  • Polygon is integrated with the Hermez Network, an open source ZK-Rollup group.
  • Polygon has announced the Hermez zkEVM, an Ethereum virtual machine for ZK (EVM).
  • Polygon announced Polygon Miden, an upcoming suite based on STARK and compatible with Ethereum.
  • Polygon is working on Polygon Nightfall, a privacy-focused update suite.

Polygon (MATIC) has already positioned itself as a viable solution for scaling Ethereum; The addition of ZK-Rollups to its arsenal will increase its expansion capabilities.

This in turn will attract more users to the protocol and increase the value of MATIC.

Polygon (MATIC) and Reddit launched a $300 million fund

On December 17, 2021, Polygon announced that it had partnered with Reddit co-founder Alexis Ohanian to launch a $200 million fund to invest in social media, gaming, and Web 3.0 projects.

Polygon will team up with Alexis Ohanian’s company Seven Seven Six to launch the fund. The company’s investment portfolio already includes Sky Mavis, the creators of Axie Infinity.

In addition to being a co-founder of Reddit, Alexis Ohanian co-founded Initialized Capital in 2010 and has been a premier investor in projects including Coinbase, Patreon, Instacart, and more.

Seven Seven Six will invest in gaming, social media and web 3.0 projects that are built on Polygon.

Building these platforms on Polygon will greatly increase their adoption, especially if one of these projects is very successful.

How to invest in Polygon (MATIC)

If you decide to invest in Polygon (MATIC), I would recommend using a cash-based exchange platform like CEX (Users Worldwide and USA) or Bitpanda (Europe only) It allows you to easily buy and sell cryptocurrencies for cash.

If you plan to keep your MATIC long term, I recommend getting a file Ledger Hardware Wallet very.

last thoughts

Polygon (MATIC) is a good investment option for any serious investor, the protocol has proven itself as a leading solution for second tier expansion and is constantly innovating and making new acquisitions.

I hope you enjoyed this story. Feel free to check out the helpful resources below

CEX . stock exchange A good exchange to buy Bitcoin, Ethereum, Polygon (MATIC), Polkadot (DOT), Binance Coin (BNB) and more from anywhere in the world for cash. Available all over the world, including the USA

BitPanda If you live in Europe, it is one of the best exchanges to buy cryptocurrencies for cash, including Bitcoin (BTC), Ethereum (ETH), Polygon (MATIC) and many more. Only available in Europe

ledger keeper Secure, buy and grow crypto assets with the world’s most popular hardware wallet. Buy the Ledger wallet here.

Cocoin– A great exchange where users can trade more than 750 different cryptocurrencies, including new cryptocurrencies with low market capitalization. Available worldwide, including the USA.

Binance– The exchange where users can trade more than 500 different cryptocurrencies. Available worldwide except for the United States

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