# What is matic

By [hualuo](https://paragraph.com/@hualuo) · 2021-12-01

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The Matic Polygon coin, unlike Bitcoin and Ethereum, is unaffected by high transaction fees owing to congestion. It's an open-source technology that gives developers the tools they need to create a stand-alone network or a secure sidechain using smart contracts and the Ethereum network's security.

Last week, the market capitalization of Polygon, which was created by three Indians, surpassed $10 billion. And, according to Coinmarketcap.com, it is presently among the top 20 crypto tokens in the world, with a market cap of $13 billion.

Coinbase, a Nasdaq-listed company, began trading the Polygon currency in March. Polygon is a set of side roads that Ethereum developers can utilise to construct apps on the Ethereum blockchain more rapidly and cheaply. It's a priceless network.

The most technically advanced cryptocurrencies with the most intrinsic worth applications – is the key to striking it big in the crypto market right now.

Polygon Matic Coin Details

Name: Polygon

Symbol: MATIC

Price: $1.80

Indian Price: RS 139

Rank: 16

Market Cap: $ 11.26 billion

All-time high (daily avg.): $ 2.29 on 5/18/2021

Polygon uses a variety of technologies such as

POS Chain: Polygon's main chain is the Matic POS Chain, an Ethereum sidechain that adds a proof-of-stake (POS) security layer to blockchains created on the platform.

Plasma Chains: Polygon employs Plasma, a scaling technique that allows assets to be moved between the root and child chains using Plasma bridges.

ZK-rollups: An alternative scaling approach that uses zero-knowledge proofs for the final public record on the Ethereum main chain to bundle a large number of off-chain transactions into a single transaction.

Optimistic rollups: A system built on top of Ethereum that uses "fraud proofs" to enable near-instant transactions.

![](https://storage.googleapis.com/papyrus_images/7015a25920486d360242513c7066a984eefd01605ba4fb9479da7ed7a1a4ffe8.jpg)

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*Originally published on [hualuo](https://paragraph.com/@hualuo/what-is-matic)*