Bitcoin spurred the development of the entire crypto industry, while Ethereum inspired crypto developers to search for solutions for its limitation. In this article, we will talk about one of such projects that aims to compete with Ethereum.
Polygon is a platform for joining and scaling blockchains, and it is also a crypto asset (MATIC). The Polygon crypto MATIC was engineered on the ERC-20 protocol. It is consistent with other crypto assets built on the Ethereum network. MATIC acts as the governance token and provides the Polygon platform’s safety. Also, MATIC is used for paying commissions for transactions.
Polygon is based on the Ethereum network. The platform’s creators aimed to connect and scale blockchains compatible with the Ethereum network, providing their interoperability, flexibility along with a high level of safety.
Polygon developers offer a solution for the Ethereum network’s disadvantages – too costly transactions and their low speed – by the following advantages:
- enabling the interaction of Ethereum and other networks;
- deployment of blockchains and development of custom networks;
- fees are 10000 lower than in the Ethereum network;
- a much higher transaction speed – 72000 tx/sec; notice that Ethereum’s speed is 15 tx/sec.
MATIC is listed on many crypto platforms. Even though crypto prices may vary from exchange to exchange, today’s rate is $0.9265, with a daily trade volume of $829,184,729.
Polygon Crypto Price Analysis and Forecast
Like all other crypto assets, MATIC followed the bear trend and fell under $0,82 this summer. In July, the Polygon price dropped to $0,74, recovered up to 0,801 and now trades at $0,9265.
Experts believe the Polygon crypto price can reach $10,11 by early 2026. The maximum rate forecasted by the end of 2030 is around $50,45.
Given all the advantages the platform offers, it has all the chances to scale its user base and application, becoming one of the more popular products for scaling and connecting blockchains.