Polygon is an Ethereum-based platform. Polygon, whose symbol is MATIC, was developed for scalable and autonomous management of smart contracts. There is no mining system in Polygon. The entire amount of Matic coins is produced by the foundation. The total supply of matic is targeted to be 10,000,000,000 units. The Foundation continues to supply matic to the market at certain periods.
Rather than updating the core blockchain network layer, Polygon Network (MATIC) aims to provide a second-layer scaling. Although decentralized applications have made great progress, currently used blockchain networks are not suitable for adequate scaling according to the demands of current users. At this point, Polygon Network (MATIC) aims to prevent slow confirmation processes and high transaction fees. One of the main goals of Polygon Network is to reduce the complexity between interacting processes on the network. In this way, it helps a lot with Ethereum's high fee and scaling problems. Thanks to these low transaction fees and network convenience, the Polygon (matic) network has recently become one of the most preferred Blockchain platforms for play to earn and NFT projects.
Polygon (matic), which is in the top 13 in the market rankings, has an all-time price peak of $2.92.