What is cryptocurrency and how does it work, future predictions

The continuous introduction of cryptocurrencies into the digital market is promoting new projects such as ribbed (Matic). The cryptocurrency was launched in the second half of 2019, and it is currently causing quite a stir among users. Below we will try to understand what it is, how it works, the weaknesses and strengths of this cryptocurrency aimed at accelerating digital transactions.

What is a polygon (matic)

Technically Polygon (Matic) It is only one P2P decentralized cryptocurrencybased on the system open source who puts the safetyThe aggregate and the Speed.

Thanks to the advanced encryption system, it is possible to allow Transaction transfers between two parties excluding an additional intermediary. Polygon has been proposed as a new and innovative blockchain and cryptocurrency technology capable of improving the flaws found in traditional cryptocurrencies, such as transaction security, speed, and privacy.

History and origins

The masterminds behind this project are Sandeep Nailwal, Jaynti Kanani and Anurag Arjun, the Indian computer engineers who initially named their creature the Matic Network. ribbed With the aim of solving the scalability issue of Ethereum, by increasing the speed of transactions. This process is possible thanks to the use ofSHA-256 . algorithm which is carried out in the mining process.

Project MATIC was launched into the market in 2017, while Project Polygon saw its debut in the second half of 2019.

ribbed
Polygon: what is cryptocurrency and how does it work, future predictions

How it works

In order to understand how Polygon cryptocurrency works, you need to start from ethereum plasma. This term defines that functionality capable of supporting specific off-chain solutions that ensure increased overall performance of the Ethereum network. This condition is caused by the creation of a tree structure, which in turn consists of several smaller chains.

After familiarizing yourself with this concept, it is possible to translate the logic towards polygon process. With this last tool, it is possible to integrate different block chains, allowing the main tool to validate the validity of ongoing transactions. The use of this system is possible Manage too many transactions per block of cryptocurrency, theoretically more than 65 thousand; At the moment very few blockchains are able to support it.

The transaction path is made thanks to the algorithm proof of stakewhich provides users with a section where they can share their network and above all tokens, which is necessary to enable network maintenance and get rewarded.

Since it is easy to deduce from the techniques used, it is The main purpose of the polygon It is to allow Ethereum to complete transactions quickly, a requirement in many cases deficient in decentralized applications. Although Ethereum is currently a core component of Polygon, the project is moving towards implementing Solutions that can integrate multiple bitcoin blockchains. A condition that would make Polygon’s position objectively interesting in the eyes of investors.

The Matic coincryptocurrency of Polygon, by Mining Or by making their coins available to expand the network, and making a profit from proof of stock consensus operations.

Polygon Project

There is no doubt that Link with Ethereum It is a condition of great benefit to Polygon. ETH has been a cryptocurrency that has been gaining worldwide attention for years now, and its financial volatility always offers excellent prospects. While this condition is out for all to see, the project can take on an entirely new form when there is additional interaction with Bitcoin or other forms of cryptocurrency.

Until May 2021, Polygon has covered a market cap More than $4.3 billion, providing nearly 10 billion tokens in the form of Matic.

Technically, at the moment, the One symbol value It is $0.7, but it is interesting to analyze how the value in 2020 was just $0.003. As can be guessed, the significant increase is due to interest, at the beginning of 2021, in the bitcoin that clarified the project, raising it to an increase of 4200% between January and May 2021.

in addition to Marketing dynamicsIt is interesting to evaluate the ways in which MATIC coin can be purchased. Except for the mining system, Polygon cryptocurrency can be easy Purchased through exchange platforms and online brokers. Popular platforms like eToro Allow to buy and sell this cryptocurrency in an easy and fast way.

Certainly the project appears to be well-founded and interest in Bitcoin may add to the momentum.

investment appraisal

Polygon also, like many other cryptocurrencies, has advantages and risks that should be taken into account, let’s see them in more detail for a better examination.

Benefits

  • has evolved
  • a team
  • scalability
  • Speed
  • Low commissions

The platform is based on a algorithm Highly advanced and on the latest generation capable of solving problems in past generations such as Speed, security and privacy. In addition to this feature, the team that gave life to this project is very valid and provides constant updates to their ecosystem.

A benefit of great importance is also scalability. thanks for the multi-chain systemIt turns out that the polygon is highly scalable. Finally, as we’ve mentioned many times, Polygon’s goal is to succeed at it Speed ​​up transaction times, Very well. To which some are also added Low commissions.

Risks

Only the question mark lies in Competing projects. In fact, there are many other teams implementing the same idea and system. Therefore, at the moment, it is not yet possible to predict whether Polygon will stand the test of time.

How to buy a matic

Present in more than 140 countries, eToro It is counted by 23 million users as a reference point in the trading of financial assets, and it turns out to be broker Most reliable and long lasting around.

Investing in cryptocurrency is not regulated in some countries of the European Union and the United Kingdom. No consumer protection. Your capital is at risk.

With one instant and intuitive platform, buying Polygon (Matic) It’s a quick and easy task. Previa Free registration On the official eToro website and account verification, you will need to perform first Minimum Deposit €50, using one of the accepted payment methods, such as PayPal, Postepay, credit/debit card and bank transfer.

At the end of the above procedure, it will be enough to log into the main web page, and select the section from the dashboard CryptocurrencySearch matic in the search bar and tap Buysspecifying the required quantity.

Investing in cryptocurrency is not regulated in some countries of the European Union and the United Kingdom. No consumer protection. Your capital is at risk.

at the level of CommitteeseToro does not have any costs or one of the lowest compared to other competitors. Opening the account is free, and managing it does not include spending money while all withdrawal requests are subject to a $5 fee. In the specific case of Polygon, No fixed commission.

eToro’s success stems from the high significance of safety The introduction and the great appeal of many of them Careersof between it demo account and the immediacy of its contents, making it the most attractive broker in trading, as well as ideal for pursuing a purchase Code Polygon (Matic).

Official website: www.etoro.com

future predictions

Sports A . platform new project And partly, nearing completion. Analyze the official page you can find out how much Careers Still in progress, such as: Optimistic Rollups, Stand-Alone Chains, Shared Security Chains, Zk Rollups. However, there is no doubt that the strong point isExcellent transaction trading system.

All cryptocurrencies can experience sudden fluctuations, but it seems that Polygon, thanks to a very good team, has what it takes to carve out an important place in this sector.

Not giving an opinion: Cryptocurrencies are volatile instruments that can fluctuate widely in a very short period of time and are therefore not suitable for all investors. Apart from CFDs, cryptocurrency trading is unregulated and therefore not supervised by anyone. European Union regulatory framework. Your capital is at risk.

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