Polygon: Simply Explained

CryptoCravers LLC
1 min readApr 14, 2022

The Polygon blockchain (also known as MATIC) is an Ethereum compatible protocol, launched in 2017. The company is an India-based open-source project that has contributors all around the world.

There are a number of notable features. As previously mentioned, MATIC is totally compatible with ethereum, yet it is much more scalable. Transactions are nearly instantaneous and gas prices are almost non-existent. Due to its open-source architecture, the project is totally modular–developers are able to customize, upgrade, and collaborate to their heart’s content.

When Polygon launched in 2017, the initial marketcap was around $5 million, each token costing around $0.0026 each. As of April, 2022, the coins are valued around $1.43 each, pushing to total marketcap over $11 billion. As you can see, the coin has achieved a substantial amount of growth since it launched 5 years ago.

Do you have any holdings on the Polygon blockchain?

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