Polygon (formerly the Matic Network) brings massive scale to Ethereum using an adapted version of Plasma with PoS-based side chains.
Decentralized apps are making huge progress, but the current blockchain ecosystem is not prepared to scale as per the demand. The issues of slow block confirmations and high gas fees need to be solved before targeting mass adoption by mainstream users. This problem and this has started reflecting in MATIC price.
Polygon solves the above problems by building a decentralized platform using an adapted version of Plasma framework that provides a solution for faster and extremely low-cost transactions with finality on the main chain. The system ensures liveliness using PoS checkpoints pushed to the Ethereum mainchain. This enables a single Polygon sidechain to theoretically achieve 2 16 transactions per block, and possibly millions of transactions on multiple chains in the future.
Let us review Polygon’s (MATIC) price.
MATIC/USD – Price Prediction
MATIC is trading above the support zone of $0.1989. As long as MATIC is above this support zone, we could start seeing a move towards $0.2523, $0.2858, $0.3398, $0.3782, $0.4272, and $0.5686. Failure to hold the support at $0.1989 could lead to a drop towards $0.1694 and $0.1374.
MATIC is currently trading at $0.2085, with a market cap of $1,036,369,810. Its 24-hour trading volume was $117,307,700.
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