Introduction to Polygon and MATIC
Polygon is a decentralized scaling mechanism utilized by Ethereum developers for creating dApps. Providing a faster network and enhanced security at an affordable rate, this 2017 initiative has become one of the most intriguing and profitable projects in the business.
Formerly known as MATIC until April 2021, the native token of the Polygon network is now referred to as MATIC. Let’s delve into a closer examination of Polygon and explore our price prediction for MATIC in February.
Overview of Polygon
Founded in October 2017 by Jaynti Kanani, Sandeep Nailwal, and Anurag Arjun, the Polygon team made significant contributions to the Ethereum ecosystem before transitioning to its network in 2019. Notable achievements include the development of the widely-used Dagger event notification engine, the WalletConnect protocol, and the Plasma MVP on Ethereum.
Polygon operates as a layer 2 proof-of-stake protocol, providing scaling solutions to Ethereum. Utilizing Plasma technology to confirm off-chain transactions before pushing them to the mainnet network, the MATIC blockchain also equips developers with tools to construct Ethereum-based decentralized networks.
Price Projection for February
Cryptocurrency experts at Changelly have provided a Polygon price prediction for MATIC in February 2024. Within this timeframe, experts anticipate MATIC’s minimum price to be $0.7689, with a maximum expected price of $0.8361. The average trading price for MATIC is projected to be $0.7985.
Despite being 72.26% down from its all-time high of $2.92, MATIC has room for growth. However, the actual price can vary based on factors such as market sentiment and the project’s development.