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Information about POL
Polygon (formerly Matic Network) is a Layer 2 scaling solution for Ethereum to enhance its performance. To solve the problem of low throughput and high gas, the Polygon platform utilizes a core component—the Polygon SDK— which enables the creation of custom blockchains. Sidechain technology and rollups help to process transactions off the main chain, ensuring faster transfer processing without compromising security.
Polygon has a native token, POL, which users often utilize to pay commissions and participate in ecosystem management. At its core, the token operates on a Proof-of-Stake (PoS) consensus mechanism that enables staking by blocking coins in the network to support its stability. As of today, POL has a price of $0.105, a market capitalization of $1.11B and a trading volume of $4.88M in the last 24 hours.
FAQ
You can purchase Polygon on exchanges or P2P platforms. The most convenient way is to buy it on an exchange via a bank card. To use this method, you first need to choose a safe and secure platform with measures like 2FA and KYC. Then, select POL as the desired crypto to purchase and the fiat currency you will pay with. Enter the preferred amount of POL to buy or the sum of fiat you are ready to spend. The site's algorithms will automatically convert one number to the other. All that’s left to do is pay: enter the card number and then a one-time code sent to your email to confirm the payment. After this step, the funds will be deducted from your card, and POLs will arrive in your crypto wallet. For example, you can buy Polygon with a bank card on the Cryptomus platform.
You can store Polygon in a crypto wallet. Choose a service that specializes only in crypto wallets or give preference to an exchange crypto platform that offers wallet services. The second option will be more beneficial as you will have the advantage of trading. To get a crypto wallet, you just need to sign up on the chosen platform. Then, top up your balance with POL tokens to manage them; you can purchase crypto on a P2P platform or with a bank card. To store Polygon, you can use the crypto wallet Cryptomus. Thanks to measures like 2FA, AML, and KYC, you don't have to worry about the safety of your funds.
Polygon operates on a Proof-of-Stake (PoS) consensus mechanism, which allows users to stake POL. You can block tokens on the network to keep the blockchain stable and receive rewards in return. The reward percentage and the lock-up duration depend on the platform you choose.
Polygon can be a good investment for long-term holders, given its role in Ethereum scalability and the development of Layer 2 technologies. It attracts developers building dApps who want to avoid Ethereum's high fees. The project’s rebranding and technical expansion have opened up its architecture to a wide range of services, contributing to the ecosystem’s growth.
POL is used for network security through staking, paying transaction fees, and participating in the management of the Polygon ecosystem. It is also widely applied in payments, decentralized finance (DeFi), and gaming, where low fees and high transaction speeds are especially important.
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