Polygon

Polygon is a layer-2 network that serves as a protocol and framework for creating and linking Ethereum-compatible blockchain networks. It is a scaling solution to increase the speed and lower the cost and complexities of transactions on blockchain networks. It aims to help developers roll out Ethereum-based products and services at a much quicker phase by increasing the blockchain’s capacity, size, and security. 

Polygon has 4 main layers:

Ethereum — Security — Polygon Network — Execution

MATIC Token 

MATIC is the native cryptocurrency of Polygon and was retained even after Matic Network’s rebranding. The token, which is limited to a 10 billion supply, was designed for staking and paying for transaction fees, but more importantly, it plays a significant role in increasing the efficiency of the entire Polygon Network. 

Platform users can acquire MATIC tokens by helping in executing smart contracts and validating transactions, in other words, by contributing computational power and services for Polygon. 

MATIC token holders will have the privilege to vote on network upgrades, and each of their votes is proportional to the number of their token stakes. 

Inflow and Outflow Ethereum <> Polygon

The chart above showing the inflow / outflow volume in/out from Ethereum to Polygon and vice versa.

Fresh 🩸

The upper 2 charts showing the daily new wallets created and done their 1st transaction on Polygon network. The chart on the right is the cumulative amount showing over the time, how much wallets have been created on Polygon network.

While the charts on below showing the average new wallets created daily in respective year.

Today active wallets

The numbers shown above are the total unique of wallets making at least 1 transactions on Polygon network today. The data on the center is the amount of unique addresses which initiated at least 1 transaction on Polygon network today.

🩺 of the Polygon network is pretty depending on the usage as Polygon a PoS network. Partial of the transaction amount charged as fee for validating and as a source of revenue for the ecosystem. ==The more the transactions done on Polygon, the more the value it creates for MATIC token and the Polygon network.==

Token price & Market Cap & Circulating Supply

All charts above are update daily.

The 2 charts above showing the MATIC token price, market cap and also the total circulating supply of MATIC token. As the vital element of the Polygon network, MATIC token price action and “health” must be monitored from time to time.

Reader is able to check on the status of the MATIC token from the metrics shown above.

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