Hello hivers,
Since I have joined hive, I believe I have become more aware of the crypto world. I am also more curious about cryptocurrencies now and keep on reading/studying about different cryptocurrencies.
Actually I want to start investing in crypto's and so I am learning of crypto's. One such crypto that caught my attention last week is 'Matic' and here are my thoughts and understanding of this cryptocurrency.
The Polygon (Matic) Network was launched in year 2017 by four software engineers based in Mumbai: Jaynti Kanani, Sandeep Nailwal, Anurag Arjun, and Mihailo Bjelic
Matic is native token of 'Polygon' which is a layer-2 scaling solution for Ethereum. Here layer-2 solution means it has been developed over Ethereum blockchain and so it uses Ethereum's mainnet as its security layer.
For reference its worth mentioning some other layer-2 projects that are built over Ethereum's blockchain like:
Arbitrum (ARB), Optimism (OP), Shibarium (SHIB), Loopring (LRC) and Immutable X (IMX). There might be many more.
I am personally bullish about Matic, Arbitrum and Shibarium. Though Arbitrum and Optimism are considered two main competitors of Matic.
Matic has high chances of growth due to its approach. It offers developers a bunch of solutions like sidechains, zk-rollups, optimistic rollups, Polygon Plasma, Enterprice Chains etc. These solutions allow developers to control and customize their scaling solution as per needs of their applications.
Thus matic has higher exposure and use cases making it a potential growing network.
The current market price of Matic (at the time of this writing) is around 0.7529$. Though it has fallen a lot from its all time high of 2.92$ in Dec 2021, the expected upcoming bull season can bring some good time for matic. It has also recovered in last one year from the lowest around 0.31$ in June 2022.
However it has proven to be quite volatile during its tenure. Its likely to rise but risks associated with cryptocurrencies applies to it and one should be careful while considering investing in any crypto.
Thanks hivers, have a good day, keep reading.
