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What is Polygon?

What is Polygon?



What is Polygon (MATIC)?

Polygon, like many other “Ethereum killers” out there, gained notoriety with its promise to solve the Ethereum scalability and fee issue by building a better version of it. Oddly enough, this journey started by making a new blockchain that sits on top of the Ethereum network, the very network it wants to replace. Polygon, formerly known as Matic, does process transactions much faster than Ethereum and can be seen as an alternative “back road” running parallel to a heavily congested highway--for the visual learners out there. 

This second layer solution not only helps speed up transactions but also makes it easier for other developers to build on Ethereum and work with other blockchains platforms more efficiently. The Polygon team has mentioned some vague plans to build its own blockchain away from Ethereum but at the moment, the two are very much tied together. Should a competing blockchain like Cardano or Polkadot take Ethereum number two spot, then Polygon may go down with it. 

However, many don’t seem to mind that possibility as MATIC continues to be a popular purchase for many token investors. The MATIC token is a pure governance and staking token that lets holders participate in the operation of Polygon. In addition, the token can be staked to earn yields and also pay gas fees on the blockchain. Polygon was first launched in 2017 at Matic but now rebranded itself as Polygon in 2021. 

What is the Polygon price?

YouHodler aggregates prices from top centralized exchanges to provide an accurate Polygon price and charts. 

Where to buy Polygon?

The easiest way to buy Polygon is to purchase it through a crypto app like YouHodler. Our universal cryptocurrency exchange service lets you convert any crypto, fiat, or stablecoin with competitive fees.

How to earn interest on Polygon?

The best way to earn interest on Polygon is by depositing it in a YouHodler savings account. Interest payments occur weekly and YouHodler features compounding interest.

How to take a loan with Polygon?

You can get a loan with Polygon in stablecoins by depositing your Polygon as collateral. YouHodler offers the best rates you can get anywhere. Don’t sell your crypto. Use it as collateral and keep its value for later.

How to trade Polygon?

Leverage market volatility to stack your crypto portfolio and trade Polygon with Multi HODL. Multi HODL is a user-friendly tool to take advantage of market swings in either direction. Become an “active HODLer” today.

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