What is MATIC Coin & How to Buy MATIC in India?

What is Polygon?

Polygon is a protocol and a framework for constructing and linking Ethereum-compatible blockchain networks. The open-source technology provides programmers with the resources to readily deploy a stand-alone network or a safe sidechain that could proactively manage the security of their Ethereum network via smart contracts.

Matic Network is a Layer 2 scaling alternative that accomplishes scale by utilizing sidechains for off-chain computation when ensuring asset security using the Plasma framework and a decentralized network of Proof-of-Stake (PoS) validators.

Matic strives to address the scalability and usability problems while not compromising on decentralization and leveraging the existing developer ecosystem and community. Matic Network is a off/side chain scaling solution for existing platforms to provide scalability and superior user experience to DApps/user functionalities.

Why Matic?

Decentralized Programs are making enormous progress but the present blockchain ecosystem is not prepared to scale in accordance with the demand. The issues of slow block confirmations and high gas fees will need to be solved before we target mass adoption by mainstream users. And most importantly, it needs an awesome consumer experience. We plan to change that by simplifying the interaction between users and the decentralized world.

Matic Network solves the aforementioned problems by constructing a decentralized platform with an adapted version of Plasma framework which provides a solution for quicker and exceptionally low-cost transactions with finality on the principal chain.

The machine ensures liveliness using PoS checkpoints which are pushed to the Ethereum mainchain. This permits one Matic sidechain to theoretically achieve 2 16 trades per block, and possibly millions of trades on multiple chains in the long run.

Brief  History of Polygon

Polygon launched in October 2017 under the title Matic with a group that led to a number of jobs associated with the Ethereum ecosystem. The Polygon team employed the first version of mobile, a framework now used by the Polygon Network as proposed by the co-founder of Ethereum, Vitalik Buterin.

Polygon (MATIC) rebranded from the Matic Network to its existing name in February 2021. In this time period, the ERC-20 token saw a huge rise in price from the 1st of the calendar year, catapulting from $0.0175 to $0.446 on March 12th, or a 2,548% rise in value. The local summit on March 12th coincided with a current listing on Coinbase a day or two ahead, March 10th.

During the subsequent days of March and into April, a number of cryptocurrency projects announced they were moving or were planning to include support for clever contract implementation on the Polygon system, allowing their software to climb past the current Ethereum main net limitations.

Most recently, on April 24th, 2021, the cryptocurrency financing protocol AAVE started on Polygon, leading to a flurry of network activity, sending the purchase price of Polygon to brand new all-time highs.

Key Features & Highlights

• Scalability: Quick, low-cost and secure transactions on Matic sidechains using finality achieved on mainchain and Ethereum since the very first compatible Layer 1 basechain
• High Throughput: Achieved up to 10,000 TPS on a single sidechain on inner testnet; Multiple chains to be inserted for horizontal scaling
• User Experience: Smooth UX and programmer abstraction from mainchain into Matic chain; native cellular programs and SDK with WalletConnect support
• Safety: Matic chain operators are stakers from the PoS system
• Public Sidechains: Matic sidechains are public in character (vs. person DApp chains), permissionless and capable of supporting multiple protocols

MATIC Value Proposition

Matic is exceptional both in terms of its technical strategy towards Layer 2 and its possible support for many different use cases. The Plasma frame is used to ensure the security of assets on the main chain (such as ERC-20 and ERC-721 tokens for Ethereum), whereas generic transactions are secured with a Proof-of-Stake network, built on top of Tendermint. Matic sidechains are essentially EVM-enabled chains and are conducive to the prepared deployment of solidity smart contracts, essentially making it a simple tool for Ethereum Developers to use it for scaling their DApps/Protocols.

Commercially, Matic sidechains are effective for encouraging the numerous Decentralized Finance (DeFi) protocols available in the Ethereum ecosystem. Matic's core philosophy is to allow DApps to compete with the consumer experience that's offered by centralized apps now. Ethereum is the first basechain Matic Network supports, however, Matic plans to offer support for further basechains, dependent on community consensus and suggestions, to allow an interoperable decentralized Layer two blockchain platform.

Is Polygon (MATIC) a Good Investment?

Like all other cryptocurrency investments, you should only invest what you're prepared to lose. That said, as network congestion continues to irritate users layer 1 networks, layer 2 technologies like Polygon provide a great opportunity to take part in the expanding world of decentralized finance without paying absorbent transaction fees to miners. 

Inventors should closely track the projects that bring their intelligent contract capabilities to the Polygon system, as well as explore the expansion related to their participation. Furthermore, investors should be aware of competing coating 2 options such as Polkadot and Binance Smart Chain as cryptocurrency traders continue to search for scalable solutions to their blockchain-based needs.

MATIC Coin Price - Data

The live Polygon price at time of writing is $0.797988 USD using a 24-hour trading volume of $735,189,209 USD. Polygon is down 6.79percent in the last 24 hours. The existing CoinMarketCap standing is 43, with a dwell market cap of $4,140,272,869 USD. It has a circulating source of 5,188,388,130 MATIC coins and a maximum.

MATIC Coin Price Prediction

Like all other cryptocurrency investments, then you should only invest what you are prepared to lose. While the cryptocurrency markets are well on it's way to becoming mainstream, there are still many known and unknown risks.

That said, as network congestion continues to irritate users on layer 1 networks, layer 2 technologies like Polygon provide a fantastic chance to take part in the ever expanding world of decentralized finance without paying additional transaction fees to miners.

Inventors should closely track the projects that bring their smart contract capabilities to the Polygon system, as well as investigate the expansion associated with their involvement. Furthermore, investors should be aware of competing coating 2 options like Polkadot and Binance Smart Chain as cryptocurrency traders continue to look for scalable solutions to their blockchain-based needs.

Steps To Buy MATIC In India

1. Open a Digital Wallet - BuyUcoin is a platform that allows you to buy MATIC in India, sell and Hold.
2. Register & Open an account when you enter BuyUcoin/Signup, register, and open a service account.
3. KYC and AML Process - To complete your KYC, you are redirected to another URL. With your last selfie, please be ready
4. Google 2 step Verification - To use 2FA, the Authenticator app must be enabled on your smartphone or tablet.
5. Add Bank Details - Your name credentials, the account name of the holder, and the IFSC code information.