Bitcoin has driven the development of the cryptocurrency industry as a whole, while Ethereum has forced cryptocurrency developers to seek solutions to its limitations. In this article, we will discuss one such project that aims to compete with Ethereum – Polygon Matic.
Polygon is a blockchain and crypto asset. Polygon Matic crypto was developed using the ERC-20 protocol. This is in line with other crypto assets based on the Ethereum network; MATIC acts as a governance token and provides security to the Polygon platform. MATIC is also used to pay transaction fees.
Polygon is based on the Ethereum network. The platform’s developers intend to connect and extend the blockchain with the Ethereum network to ensure interoperability, flexibility and a high level of security.
Polygon’s developers propose to address the shortcomings of the Ethereum network – its excessively high transaction costs and slowness – by offering the following advantages:
- Enabling interaction between Ethereum and other networks.
- Adoption of blockchain and development of customized networks.
- Fees are 10000 cheaper than on the Ethereum blockchain.
- Very high transaction speed of 72000 tx/sec. For comparison, Ethereum’s speed is 15 tx/sec.
Matic is listed on many cryptocurrency platforms. To convert MATIC to USDT, you will pay $1.10 (the price in November 2022).
Looking at the polygon crypto price chart, we can see its rate reached $2.87 in December 2021 and then gradually dropped to $0.34 in June 2022, when the entire market went down. Today its price recovered a bit, and experts expect for more good news in the future.
Matic Price Predictions
Like other cryptocurrencies, Matic followed a downtrend and fell below $0.34 this summer. In July, Polygon’s price increased to $0.74, then recovered to $0.801 and now trades at $1.10. Experts believe the Polygon price could reach $10.11 by early 2026, with an expected peak of $50.45 by the end of 2030.
Given all the advantages the platform offers, it has the potential to become one of the most popular products for scaling and connecting blockchains and expanding the user base and applications. You can buy Polygon Matic coins on the WhiteBIT platform. It supports deposits in fiat money and withdrawals to your bank card.