Bitcoin was the first successful decentralized currency, and the Ethereum team was the first to create a platform for developing smart contracts and decentralized applications. The high degree of information security in the blockchain suggests that the future belongs to these technologies.
Users appreciated the capabilities of Ethereum, but its success revealed all the weaknesses of the blockchain. The platform can no longer cope with the huge data flow. We need technical solutions to improve the performance and scalability of the platform.
While the development team is improving the technical base and preparing for the launch of the updated Ethereum 2.0, the network already has implemented technical solutions with the same functionality as Ethereum, but faster, more reliable and cheaper.
What is a Polygon and how is it related to MATIC
Matic Network was created as a second tier solution to improve the scalability of the Ethereum blockchain. The platform has been operating since 2017 and has already hosted about a hundred decentralized applications for various purposes.
After rebranding in the first quarter of this year, the network received the name Polygon Network, and its functionality was added to the ability to create custom blockchains.
History and prospects of the MATIC coin
The MATIC coin is an ERC-20 token. It was created as a means of payment for all types of settlements in the Matic Network. This asset appeared on the market back in 2019, but at that time did not attract much attention.
With the accumulation of problems, Ethereum began to grow user interest in alternative crypto projects. The rebranding and updates of Matic Network came at the best possible time. The coin began to grow in early January 2021 and continued to grow amid massive transformations in the Matic Network. In 10 weeks, the coin has grown by 2300%. In absolute terms, its price looked quite modest, and the dollar barrier was overcome in the first ten days of May. A little later, the price reached an all-time high of $ 2.45.
After a deep correction during the summer, MATIC has regained lost ground and is now trading at around $ 2.
Where to exchange MATIC for other cryptocurrencies
The coin is supported on many major cryptocurrency exchanges, in particular Bittrex, Poloniex, OKEx, KuCoin, Coinbase. However, it should be noted that the number of trading pairs with MATIC is still limited. The presence of a coin in the catalog does not mean that you can swap MATIC for ETH for any of them.
How it works on traditional cryptocurrency exchanges
- Register if you are not yet a user of the site.
- Verify your account if required by the exchange rules.
- Deposit coins.
- Create an order to exchange MATIC for the coin you need. Depending on the technical capabilities of the exchange, this can be a limit order or a quick trade.
- After the order is executed, withdraw coins from the exchange to your wallet, if you do not plan to conduct active trading.
Account registration and identity verification is required on almost all reputable exchanges. In addition, a commission is charged for all exchange transactions.
How does LetsExchange convert cryptocurrencies?
LetsExchange refers to a different type of platform. This is a C2C quick exchange service. You do not need to register an account to complete the transaction:
- In the upper field of the exchange widget, select MATIC for sale and specify the amount of the transaction;
- In the bottom field, select a coin to buy;
- Enter the address of your crypto wallet;
- Deposit coins.
- Press the button “Exchange”.
You can exchange MATIC to BTC and about 300 more coins without a long search and waiting for the most profitable rate. The Smart Rate system will automatically pick it up for the best deal available. Once the transaction is complete, the coins are credited to your wallet.
LetsExchange is, first of all, profitable, convenient and safe.