{"id":14830,"date":"2022-11-17T16:57:08","date_gmt":"2022-11-17T16:57:08","guid":{"rendered":"https:\/\/usenobi.com\/blog\/?p=14830"},"modified":"2023-01-26T02:15:41","modified_gmt":"2023-01-26T02:15:41","slug":"what-is-polygon-matic","status":"publish","type":"post","link":"https:\/\/usenobi.com\/blog\/en\/what-is-polygon-matic\/","title":{"rendered":"What is Polygon (MATIC)?"},"content":{"rendered":"\n<p><strong><a href=\"https:\/\/usenobi.com\/blog\/id\/apa-itu-polygon-matic\">Baca dalam Bahasa Indonesia<\/a><\/strong><\/p>\n\n\n\n<p>Polygon, formerly known as Matic network, is a layer-2 scaling solution founded in 2017 with Jaynti Kanani as the founder. Polygon was created to fix several limitations in the Ethereum blockchain, such as slow transaction speed, low throughput, and high gas fees. It was originally designed as a scaling solution, but it rapidly evolved into a multi-purpose ecosystem. Matic Network strives to solve the scalability and usability issues.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter\"><img decoding=\"async\" src=\"https:\/\/lh3.googleusercontent.com\/_liNOH_oUEz4QU5YHR2lZKuhDBiL1oS0XySw3GPZa4htyRggWwnFlccCrYADaRw7PBpqQ_YsCx7TIlQ0DTxcMcZzSLtzmor6v2E2HB13z0hxm1Ye48LNrRVD_AdBCU1OwbxN6Mj9Zsh9i8uRPLu6jvmv4hU6XGpooaUR_3ABF3IpijcfjJYHNM-NrzdDGuDRO5JOwNM8UQ\" alt=\"Diagram\n\nDescription automatically generated\"\/><figcaption>Source: Polygon Lightpaper<\/figcaption><\/figure>\n\n\n\n<h2><strong>What is Layer-2 Solution?<\/strong><\/h2>\n\n\n\n<p>A&nbsp;layer 2 solution is a blockchain that runs parallel to a mainnet \u2014 in Polygon\u2019s case, Ethereum \u2014 but processes transactions outside of the mainnet, resulting in an increased throughput (transaction speed) and lower gas fees.<\/p>\n\n\n\n<p>As we know, Ethereum is the go-to ecosystem for most software developers looking to launch their dApps (decentralized applications) due to its vast and secure infrastructure and innovative tooling.<\/p>\n\n\n\n<p>However, the high demand for dApps and the subsequent supply clogged the network, and its throughput has significantly downgraded \u2014 it\u2019s not uncommon to see gas fees rising up, which can be pretty expensive, leaving the Ethereum blockchain only for the \u2018big players.\u2019<\/p>\n\n\n\n<p>This is why Layer 2 solutions have become essential to the DeFi ecosystem, as they enhance Ethereum\u2019s scalability and throughput while still benefiting from its security properties.<\/p>\n\n\n\n<h2><strong>The MATIC Token<\/strong><\/h2>\n\n\n\n<p>MATIC, its native token debuted on the Binance Launchpad in 2019. MATIC powers the entire Polygon ecosystem. This token can be used for paying transaction\/ gas fees, for staking and a governance token. The maximum supply is 10 billion.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter is-resized\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/lh6.googleusercontent.com\/n3-5RUrNOodZIFfKDN2VffnDJ1-UN1kM69lgHmu0RVpmFLAAm59k9CVbO6Py2MoG_J9mOVyLUb86mdn3ee8VUHoWUtOQn6GCEn2WyCc_NezgYWlOdK3kAtetdAoPK5FvEehkhSeCOUzkCAlmK3-Rv9uQPCi9cndtUo3YjEPqTiTpg8v1FgDTzP9GBnBJfMJnZgQgIPb3cQ\" alt=\"Chart\n\nDescription automatically generated\" width=\"880\" height=\"464\"\/><figcaption>Source: Coingecko<\/figcaption><\/figure>\n\n\n\n<p>The MATIC token supply distribution is as follows:<\/p>\n\n\n\n<ul><li>Advisors: 4%<\/li><li>Private Sale: 4%<\/li><li>Network Operations: 12%<\/li><li>Team: 16%<\/li><li>Launchpad Sale: 19%<\/li><li>Ecosystem: 23%<\/li><li>Foundation: 22%<\/li><\/ul>\n\n\n\n<h2><strong>Polygon Chain<\/strong><\/h2>\n\n\n\n<p>Polygon framework supports two major types of Ethereum-compatible blockchain networks:<\/p>\n\n\n\n<ol><li>Stand-alone chains<\/li><\/ol>\n\n\n\n<p>These networks are fully in charge of their own security.<\/p>\n\n\n\n<ol start=\"2\"><li>Secured chains<\/li><\/ol>\n\n\n\n<p>Blockchain networks that use \u201csecurity as a service\u201d where the service can be provided either by Ethereum directly or by a pool of professional validators.<\/p>\n\n\n\n<h2><strong>Proof of Stake Consensus<\/strong><\/h2>\n\n\n\n<p>The platform leverages the Proof of Stake consensus, which relies on a set of node validators to verify and validate transaction blocks on the network.&nbsp;<\/p>\n\n\n\n<p>The PoS ecosystem of Polygon works by rewarding users with MATIC, the protocol\u2019s native token. To earn MATIC, you can choose one of the following options:<\/p>\n\n\n\n<p><strong>Become a validator<\/strong>&nbsp;and commit to the network by running a full node to validate transactions on the blockchain. As a node validator, you receive a cut of fees and newly created MATIC. However, if you act maliciously, make a mistake, or even if your internet connection is slow, your MATIC rewards will be slashed as punishment.<\/p>\n\n\n\n<p><strong>Become a delegator<\/strong>, which is a type of public node. As a delegator, you receive other people\u2019s MATIC and use it to help the network conduct PoS validation. The larger the delegated stake, the higher the delegator\u2019s voting power. This is easier than being a node validator, but it also comes with its challenges.<\/p>\n\n\n\n<h2><strong>Utility: What Can You Do on Polygon?<\/strong><\/h2>\n\n\n\n<p>Polygon is not only a scaling solution, but it is also becoming a broader and more complex&nbsp;ecosystem where users and developers alike have a wide set of use cases. They can launch Ethereum-compatible blockchains, use Ethereum-based decentralized applications (dApps), mint NFT, become node validators, delegators, stake MATIC, and do a lot more.<\/p>\n\n\n\n<p>There are numerous successful projects that run on Polygon, such as yield generating protocols like Aave or Curve Finance, decentralized exchanges such as SushiSwap, and the most popular decentralized NFT (Non-Fungible Token) marketplace, OpenSea.<\/p>\n\n\n\n<h2><strong><strong>How to Buy MATIC?<\/strong><\/strong><\/h2>\n\n\n\n<p>To get some <strong><strong>MATIC<\/strong><\/strong>, you can simply buy them directly on NOBI app. You can also check MATIC\u2019s real-time price&nbsp;<strong><a href=\"https:\/\/usenobi.com\/prices\/MATIC\">here<\/a><\/strong>. Not only buy-sell crypto assets, you can also&nbsp;<strong><a href=\"https:\/\/usenobi.com\/blog\/welcome-to-the-new-nobi-earn\/\">grow<\/a><\/strong>&nbsp;your favorite crypto assets on NOBI, including MATIC. You could hold your coins while earning attractive rewards on NOBI Earn. What\u2019s more, it\u2019s an easy way to earn by simply holding crypto assets. Check out&nbsp;<strong><a href=\"https:\/\/link.usenobi.com\/app\/earn\">NOBI Earn<\/a><\/strong>&nbsp;and start earning rewards today!<a href=\"https:\/\/usenobi.com\/blog\/what-is-cardano-ada\/\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Baca dalam Bahasa Indonesia Polygon, formerly known as Matic network, is a layer-2 scaling solution founded in 2017 with Jaynti Kanani as the founder. Polygon was created to fix several limitations in the Ethereum blockchain, such as slow transaction speed, low throughput, and high gas fees. It was originally designed as a scaling solution, but [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":14833,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jet_sm_ready_style":"","_jet_sm_style":"","_jet_sm_controls_values":"","_jet_sm_fonts_collection":"","_jet_sm_fonts_links":""},"categories":[1996,1992],"tags":[2290,2030],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.14 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What is Polygon (MATIC) - NOBI Blog<\/title>\n<meta name=\"description\" content=\"Polygon is a layer-2 scaling solution founded in 2017 with Jaynti Kanani as the founder. It&#039;s formerly Matic network. It was originally designed as a scaling solution, but it rapidly evolved into a multi-purpose ecosystem. This Network strives to solve the scalability and usability issues. You can now buy MATIC on NOBI App.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/usenobi.com\/blog\/en\/what-is-polygon-matic\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What is Polygon (MATIC) - NOBI Blog\" \/>\n<meta property=\"og:description\" content=\"Polygon is a layer-2 scaling solution founded in 2017 with Jaynti Kanani as the founder. It&#039;s formerly Matic network. It was originally designed as a scaling solution, but it rapidly evolved into a multi-purpose ecosystem. This Network strives to solve the scalability and usability issues. 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