Question 1

What is Polygon?

Accepted Answer

Polygon (MATIC) is a Layer-2 scaling solution for Ethereum that provides users with faster transactions and lower costs as a parallel blockchain running alongside the main Ethereum network.
To use the Polygon network, users have to “bridge” their tokens from Ethereum to it. There are numerous decentralized applications built on top of Polygon, including several leading Ethereum-based protocols that have made their applications work on both networks.
The Polygon network can be used through [cryptocurrency wallets](https://www.cryptocompare.com/wallets/#/popular) compatible with Web3 applications such as MetaMask or the Coinbase Wallet. These are wallets that can interact with smart contracts on the blockchain and can be found built-in to some web browsers such as Opera and Brave.

Question 2

What is the MATIC token?

Accepted Answer

The MATIC token is Polygon’s native currency, used to pay for transaction fees on the network. The cryptocurrency is also Polygon’s governance token, which means MATIC token holders get to vote on change proposals to Polygon.
As the network uses a [Proof-of-Stake (PoS)](https://www.cryptocompare.com/mining/guides/what-is-proof-of-stake/) consensus algorithm, MATIC can be [staked](https://www.cryptocompare.com/mining/guides/what-is-staking/#:~:text=A%20solution%20is%20Proof%2Dof,the%20amount%20of%20coins%20locked.) to help secure the network in exchange for rewards in MATIC. The ticker MATIC comes from a previous stage of Polygon’s development, as at launch it was named the MATIC Network.

Question 3

Who Created Polygon?

Accepted Answer

Polygon was first launched back in 2017 as the Matic Network by several Ethereum developers: Jaynti Kanani, Sandeep Nailwal, Anurag Arjun, and Mihailo Bjelic. The network went live in 2020 and quickly attracted some of the largest DeFi applications.
The network raised the equivalent of $5.6 million in TH with the sale of 1.9 billion MATIC tokens back in April 2019.
The Polygon network currency has several blue-chip DeFi applications launched on top of it, including decentralized exchange Uniswap, lending platform Aave, and decentralized lottery platform PoolTogether.

#	Instrument	Exchange	Benchmark Score	Price	24h Change	24h Volume	24h Trades	24h Open	24h High
1	MATIC-MYR MATICMYR	luno	B	0.4229MYR	-0.66%	668,134.89MATIC	234	0.4257MYR	0.4399MYR
2	MATIC-ZAR MATICZAR	luno	B	1.65ZAR	-2.44%	11,197.39MATIC	24	1.69ZAR	1.81ZAR
3	MATIC-JPY MATICJPY	zaif	-	16.32JPY	1.00%	144.75MATIC	17	16.16JPY	18.00JPY
4	MATIC-USDT MATICUSDT	latoken	D	0.1202USDT	3.70%	45.59MATIC	1	0.1160USDT	0.1202USDT
5	MATIC-INR MATICINR	bitbns	-	5.53INR	0.00%	0MATIC	0	5.53INR	5.53INR
6	MATIC-USD matic_usd	yobit	-	0.07239USD	0.00%	0MATIC	0	0.07239USD	0.07239USD
7	MATIC-BTC MATICBTC	zaif	-	0.0₅1310BTC	0.00%	0MATIC	0	0.0₅1310BTC	0.0₅1310BTC
8	MATIC-JPY maticjpy	huobijapan	E	18.41JPY	0.00%	0MATIC	0	18.41JPY	18.41JPY
9	MATIC-WAVES matic_waves	yobit	-	0.3135WAVES	-0.52%	0.004000MATIC	1	0.3151WAVES	0.3151WAVES
10	MATIC-USD MATIC-USD	coinbase	AA	0.1995USD	0.00%	0MATIC	0	0.1995USD	0.1995USD
11	MATIC-USDT MATIC-USDT	coinbase	AA	0.1980USDT	0.00%	0MATIC	0	0.1980USDT	0.1980USDT
12	MATIC-GBP MATIC-GBP	coinbase	AA	0.1523GBP	0.00%	0MATIC	0	0.1523GBP	0.1523GBP
13	MATIC-EUR MATIC-EUR	coinbase	AA	0.1715EUR	0.00%	0MATIC	0	0.1715EUR	0.1715EUR
14	MATIC-BTC MATIC-BTC	coinbase	AA	0.0₅1760BTC	0.00%	0MATIC	0	0.0₅1760BTC	0.0₅1760BTC