Polygon (cryptocurrency)
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| Polygon | |
|---|---|
| Development | |
| Original author(s) | Jaynti Kanani, Sandeep Nailwal, Anurag Arjun |
| White paper | polygon |
| Initial release | October 2017 |
| Development status | Active |
| Website | https://polygon.technology |
| Ledger | |
| Circulating supply | 6,942,890,165[1] |
| Valuation | |
| Market cap | US$10.98billion[2] |
Search Polygon (cryptocurrency) on Amazon.
Polygon, formerly known as Matic Network, is a framework for building interconnected blockchain networks.[3]
Design[edit]
Polygon's proof of stake chain and plasma sidechain scaling solution are proven to scale Ethereum main-chain during its operation under the name of MATIC. Multi-chain new scaling solutions are built around existing infrastructure to pursue further adoption.[4][promotional language][clarification needed]
History[edit]
Matic Network was created in 2017 by Indian software engineers Jaynti Kanani, Sandeep Nailwal, and Anurag Arjun with the intention to provide infrastructure to scale Ethereum.[5][6][7]
Matic Network created its genesis block on 19 May 2020.[8][better source needed]
In February 2021, Matic Network rebranded as Polygon.[7]
The exchange price of the cryptocurrency notably surged in May 2021 and hit all-time high on May 17th, 2021 as main-chain Ethereum recorded its all-time high at the time a week prior.[9] However two days later, the price fell by approximately 40%.[10]
In August 2021, Polygon merged with Hermez, a zero-knowledge scaling project.[6]
References[edit]
- ↑ "Polygon". CoinMarketCap.
- ↑ "Polygon". CoinMarketCap.
- ↑ Phillips, Daniel (11 March 2021). "What is Polygon (MATIC) and Why It Matters for Ethereum". Decrypt. Retrieved 30 December 2021. Unknown parameter
|url-status=ignored (help) - ↑ Nailwal, Sandeep (11 August 2021). "Polygon (MATIC): The Swiss Army Knife of Ethereum Scaling". Cryptopedia by Gemini. Retrieved 30 December 2021. Unknown parameter
|url-status=ignored (help) - ↑ "Cryptocurrency Polygon, founded by 3 Indians, has touched $13 billion in market cap". Business Insider India. 19 May 2021. Archived from the original on 19 May 2021. Retrieved 30 December 2021. Unknown parameter
|url-status=ignored (help) - ↑ 6.0 6.1 "Indian crypto startup Polygon buys Hermez for $250 mn; firms to merge tokens". mint. 14 August 2021. Retrieved 30 December 2021. Unknown parameter
|url-status=ignored (help) - ↑ 7.0 7.1 "What you need to know about Polygon crypto as Matic price skyrockets". Newsweek. 2021-05-19. Retrieved 2021-12-30.
- ↑ "Crypto Research, Data, and Tools". messari.io. Retrieved 2021-12-30.
- ↑ McIntyre, Sheldon (21 May 2021). "MATIC Price Forecast: Polygon poised to lead altcoins higher once selling subsides". Fxstreet. Archived from the original on 22 May 2021. Retrieved 30 December 2021. Unknown parameter
|url-status=ignored (help) - ↑ Niel, Thomas (21 May 2021). "Polygon Could Remain a Winner After the Crypto Sell Off". Investorplace. Archived from the original on 21 May 2021. Retrieved 30 December 2021. Unknown parameter
|url-status=ignored (help)
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