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Polygon seeing a rise

Polygon seeing a rise

Polygon (MATIC) is an India-based cryptocurrency. Polygon has swiftly risen in popularity. It has also partnered with multiple government-based blockchain projects for scaling covid-19 related data. However, several cryptocurrencies like Bitcoin Ethereum Ripple are witnessing a slump.

Currently, Polygon seems to be one of the top 15 biggest cryptos globally. Moreover, it has also become a massive hit in India. There is a surge in user requests that have led cryptocurrency exchanges like Coinswitch, Kuber to list Polygon on their platforms.

What is Polygon?

Polygon is an Indian blockchain scalability platform. Moreover, miners call Polygon the Ethereum internet of blockchains. Polygon is a solution to some of the challenges Ethereum faced today, like a hefty fee, poor user experience, and low transactions per second.

Moreover, Polygon aims to create a multi-chain ecosystem of Ethereum compatible blockchains. The project initially began as the MATIC network. Later Polygon got rebranded as Polygon when the scope expanded.

Polygon intends to provide distinct blockchains that can freely exchange value and information. Polygon is also involved with some of the hottest areas in cryptocurrencies such as DeFi (decentralized finance), DAO’s (decentralized autonomous organizations), and NFT’s (non-fungible tokens).

Who built Polygon?

Polygon is an Indian origin network. 4 software engineers Jayanti Kanani, Sandeep Nailwal, Anurag Arjun, and Miailo Bjelic, built Polygon. Polygon has captured a place in the top 15 cryptocurrencies. Moreover, the founders have more ambitious plans to make it the third-largest crypto project following Bitcoin and Ethereum.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.