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Matic may be one of the best cryptocurrencies to buy and hold right now due to its low price and optimistic prospects that relate to the platform’s fundamentals and partnerships, not to mention its eye on sustainability. GOBankingRates has included Polygon matic on its list of 10 cheap cryptocurrencies to buy. Polygon matic crypto MATIC holders own and govern the protocol. They currently take a cut of the total transaction fees paid by users (revenue). Polygon’s investors include Coinbase Ventures, ZBS Capital, MiH Ventures, etc.

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How do cryptocurrencies work?Cryptocurrencies work using a technology called blockchain. They are tokens that can be used as a form of payment in exchange for online goods and services. They carry a pre-determined store value of their own, just like any other fiat currency like the US dollar or the Indian rupee. Cryptocurrencies are digitally mined, where very sophisticated computers solve extremely complex computational mathematics problems. Their mining is painstaking, costly and only sporadically rewarding. PRN Top Stories Newsletters News Categories

Polygon crypto news
Polygon vs MATIC
Nailwal says Web3 will succeed when applications are able to take center stage in the crypto world rather than the infrastructure providers. Polygon (MATIC) Price & Market Data MATIC’s price hit an all-time high of $2.40 in May 2021, three months after the project underwent a major rebranding from Matic Network to Polygon Network. Prior to the surge, which started in February and saw the token rise by more than 7,000% to its all-time high, MATIC had remained under $0.04 for almost two years.

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Formerly known as the Matic Network, Polygon is a scaling solution that addresses Ethereum’s scalability issues. Due to the Ethereum blockchain’s architecture, it has limitations on transaction speeds and throughput. As transaction demand increases, the network gets congested, causing transaction fees to increase. Polygon aims to solve Ethereum’s challenges by bringing this computation off-chain using sidechains and a decentralized network of Proof-of-Stake (PoS) validators. This method significantly reduces the network load on Ethereum, thereby increasing transaction speed and lowering transaction costs.  Top Cryptocurrencies .css-3sbs59Polygon (formerly known as Matic Network) is a decentralised platform that aims to provide scalable and secure infrastructure for the Ethereum ecosystem. Polygon is designed to help scale the Ethereum blockchain by offloading some of the transaction processing to its own network, which allows for faster and cheaper transactions.