What’s Polygon (MATIC) – Bitfinex weblog

What’s Polygon (MATIC)

What’s Polygon (MATIC)

Polygon is likely one of the main blockchain platforms for prime velocity, low price, and sustainable Web3 infrastructure. If blockchain apps, sensible contract platforms, DApps, and cryptocurrencies are going to see mass adoption, they must be quick and simple to make use of. Polygon’s mission is to supply a variety of safe, quick, reasonably priced, and energy-efficient Ethereum scaling and infrastructure options for builders to construct decentralised functions. Along with Bitfinex, it is possible for you to to be taught extra in regards to the Polygon challenge and have an opportunity to get a reward for collaborating within the ‘Polygon Telegram Takeover’ competitors. The competitors description and the principles might be discovered right here. To hitch, you simply have to fill within the Google type. Don’t miss your probability to win! 

Polygon (MATIC)

Polygon was initially launched as MATIC Community in 2017, however later because the challenge grew and expanded, it was rebranded to Polygon in February 2021. Polygon grew to become an answer to a number of the vital challenges that Ethereum encounters immediately. From a technical perspective, Polygon resembles a protocol greater than a single resolution, as its ecosystem offers builders a possibility to create Ethereum-compatible networks.

How Polygon works

Polygon gives builders with an unlimited vary of options to deploy and configure customized blockchains in a quick and simple means. These embrace governance and consensus modules in addition to various implementation environments. 

Blockchains launched on the Polygon community are primarily based on its proof-of-stake (PoS) sidechain, which leverages a community of validators off the blockchain after which finalises the transactions on Ethereum’s predominant chain. This could take the numerous pressure off the primary blockchain, which leads to much less community congestion, quicker transaction speeds, and decrease fuel charges.

Polygon is constructing a whole suite of options that’s much like what Amazon Net Providers gives Web2 builders — a device for each potential use case and scaling at a click on of a button. For Web3, Polygon PoS gives an execution layer with low charges and excessive transaction throughput secured by the Ethereum mainnet. Polygon Avail will ship the general-purpose, scalable knowledge availability piece of the puzzle. With Polygon Edge, initiatives can construct application-specific blockchains from scratch or use the just lately introduced Supernets for plug-and-play customized networks secured by Polygon.

Why is Polygon distinctive   

Polygon is quick changing into the de-facto platform for Web3. Its rising suite of merchandise gives builders easy accessibility to main scaling options. Polygon allows builders to create DApps which might be verifiably interoperable and might make use of the a number of interconnected blockchains. Polygon’s scaling options have seen widespread adoption with 19,000+ decentralised functions hosted, 1.6B+ whole transactions processed, ~142M+ distinctive consumer addresses, and $5B+ in property secured.

Polygon can be the house of cutting-edge Zero-Data (ZK) cryptography. Polygon’s ZK scaling options produce proofs of transaction validity verifiable by anybody. You’ll be able to be taught extra about Polygon’s ZK technique right here.

Lately, Polygon introduced a $20 million pledge to a collection of neighborhood initiatives, together with funding initiatives that utilise expertise to fight local weather change. Polygon is carbon impartial with the purpose of main the Web3 ecosystem in changing into carbon detrimental. You’ll be able to learn extra about Polygon’s dedication to being local weather detrimental right here: Polygon Sustainability web site, Polygon’s $20 Million Pledge, and Inexperienced Manifesto

What’s Polygon (MATIC) token

The MATIC token is used for quite a lot of functions within the ecosystem, functioning because the community’s predominant transactional foreign money and as a monetary incentive for many who need to contribute to the ecosystem.

The tokens are additionally used for collaborating within the community governance by voting on Polygon Enchancment Proposals (PIPs) in addition to contributing to safety via a course of known as staking. The staking course of allows customers to take part in Polygon’s consensus mechanism to validate transactions in return for MATIC tokens. 

MATIC Tokenomics and Provide

Polygon Roadmap

  • 2017 — The inspiration of MATIC.
  • 2019 — IEO on a Tier-1 change.
  • Q2 2020 — The launch of mainnet & POS Chain & Plasma Chain.
  • This autumn 2020 — The onboarding of High Video games.
  • Q1 2021 — MATIC was rebranded to Polygon.
  • Q2 2021 — The onboarding of main DeFi protocols; Mark Cuban makes an funding within the challenge & market cap exceeds $10B.
  • Q2-Q3 2021 — The launch of Polygon Edge & The launch of Polygon Studios; The launch of Polygon Avail & Rollups – Optimistic, ZK & Stand-alone, Safe Chains.
  • This autumn 2021 — The launch of zk-STARK primarily based scaling resolution Polygon Miden.
  • Q1 2022 — $450M fundraise from Sequoia Capital India, SoftBank Imaginative and prescient Fund 2,  Galaxy Digital and others; The launch of Polygon ID. 
  • Q2 2022 — The launch of Polygon Avail testnet & Polygon Dusk mainnet beta. 
  • Q3 2022 — The launch of Polygon Dusk mainnet. 
  • This autumn 2022 —  Polygon goes carbon detrimental. 

Polygon Staff

The challenge’s crew consists of greater than 400 professionals whose predominant purpose is to create a multichain ecosystem of Ethereum-compatible blockchains with superior interoperability. The crew is led by the 4 co-founders — Jaynti Kanani, Sandeep Nailwal, Anurag Arjun, and Mihailo Bjelic. 

Jaynti Kanani — Co-Founder — a full-stack developer and blockchain engineer who labored on outstanding blockchain initiatives like Web3, Plasma, and WalletConnect.

Sandeep Nailwal — Co-Founder — a blockchain programmer and entrepreneur who additionally based ScopeWeaver, a blockchain consulting firm.

Anurag Arjun — Co-Founder — who beforehand labored at SNL Monetary, Dexter Consultancy, and Cognizant Applied sciences in a product administration position.

Mihailo Bjelic — Co-Founder — an engineer with an Info Programs background.

Polygon Ecosystem

Polygon PoS is a house to a number of the greatest Web3 initiatives from DeFi protocols like Aave and Uniswap V3, NFT marketplaces OpenSea and Mark Cuban’s Lazy.com and Web3 gaming efforts, together with DraftKings, Animoca Manufacturers’ The Sandbox and Decentral Video games (You’ll find the detailed checklist right here). Polygon additionally powers the mass market by collaborating with international manufacturers, together with D&G, Macy’s, LOL Shock!, DraftKings, Adobe and others. 

Examples of DApps constructed on Polygon PoS:

  • DeFi — Aave, Curve, Sushiswap, Pool collectively, QiDao, Balancer Good points commerce, Synfutures, Quickswap, Lido, Uniswap.
  • NFT — Opensea, Aavegotchi, Digitalax, Royal, Ethernity, Valuables (utilized by Elon Musk and Jack Dorsey), RECUR, Stephen Curry, Deadmau5, UNXD (Dolce & Gabbana drop), Unstoppable Domains, Candy, Venly (beforehand Arkane), Clinique, Related Press, Autograph, Showtime.
  • Gaming — Ubisoft, Atari, Animoca, Horizon Video games (Skyweaver), Pegaxy, Zed Run, Large Time Studios, Stardust, Gala Video games.
  • Metaverse — Decentraland, Somnium House, Sandbox, Atari (multiverse), Aavegotchi.

Find out how to purchase MATIC on Bitfinex

Find out how to purchase MATIC with crypto

1. Log in to your Bitfinex account or join to create one.

2. Go to the Deposit web page.

3. Within the Cryptocurrencies part, select the crypto you intend to purchase MATIC with and generate a deposit tackle on the Change pockets.

4. Ship the crypto to the generated deposit tackle.

5. As soon as the funds arrive in your pockets, you possibly can commerce them for MATIC. Learn to commerce on Bitfinex right here.

Find out how to purchase MATIC with fiat

1. Log in to your Bitfinex account or join to create one.

2. You should get the total verification to have the ability to deposit fiat to your Bitfinex account. Find out about completely different verification ranges right here.

3. On the Deposit web page, underneath the Financial institution Wire menu, select the fiat foreign money of your deposit. There’s a minimal quantity for fiat deposits on Bitfinex; be taught extra right here.

4. Verify your Bitfinex registered electronic mail for the wire particulars.

5. Ship the funds.

6. As soon as the funds arrive in your pockets, you need to use them to purchase MATIC.

Find out how to purchase MATIC with playing cards

1. Log in to your Bitfinex account or join to create one.

2. Choose Cost Playing cards on the Deposit web page.

3. You’ll be able to select both of the cost processors to buy ETH. For MATIC, you will want to get the total or intermediate verification stage. Discover extra information about verification ranges right here.

4. Choose Ethereum, fill within the quantity and choose the pockets you need to deposit the bought MATIC.

5. Comply with the phrases and click on Proceed to Cost.

Additionally, we’ve got Bitfinex on cell, so you possibly can simply purchase MATIC foreign money whereas on-the-go.

[AppStore]  [Google Play]

Find out how to stake MATIC on Bitfinex

The Bitfinex liquid staking program permits customers to simply generate rewards by merely holding MATIC on Bitfinex. Staking rewards for holding MATIC might be as excessive as 15% – 17%* for a restricted time. Simply make a deposit and watch how your account grows as Bitfinex autoMATICally deposits your staking rewards into your account on a weekly foundation. 

Polygon Channels

Web site | Twitter | Telegram | LinkedIn | Reddit | Discord | Instagram | Fb

Purchase MATIC right here!

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