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- BitBoy Crypto not too long ago supplied a 101-style Polygon (MATIC) crash course.
- The crypto influencer lined key matters like native tokens, staking, and different components of its ecosystem.
- BitBoy additionally advised his followers about Polygon’s upcoming POL token that might exchange MATIC.
Ben Armstrong, aka BitBoy Crypto, not too long ago revealed a 101-style informative video that supplied a crash course on the Ethereum scaling resolution Polygon. Within the video posted on YouTube, the crypto influencer highlighted Polygon’s milestones and upcoming occasions, together with the altering of the ticker of the community’s native token.
BitBoy Crypto advised his followers that the ticker of Polygon’s MATIC token could be modified to POL, which might turn into the first token of the community. Polygon’s customers will be capable to trade their MATIC tokens for the brand new POL tokens as soon as the ticker adjustments. MATIC tokens are at present used to pay charges on the Polygon networks. Validators that want to run nodes are additionally required to stake MATIC.
Polygon is one among Ethereum’s oldest and most profitable layer-two scaling options. As an Ethereum Digital Machine (EVM) blockchain, Polygon is appropriate with Ethereum purposes, which paves the best way for top transaction speeds at low prices. zkEVM, Polygon’s zero information rollup, which is at present in beta, goals to extend safety and decentralization.
Final yr, Polygon introduced different blockchain networks referred to as supernets for its blockchain ecosystem. Supernets are extra chains, based mostly on Polygon’s proof-of-stake consensus mechanism, which are developed for a particular motive. BitBoy Crypto additionally talked in regards to the Polygon SDK (software program improvement equipment), which incorporates modular library instruments that assist builders construct on the blockchain.
On the time of writing, MATIC was buying and selling at $0.55. The token has misplaced greater than 9% of its worth over the previous week, which took its market capitalization down by greater than $550 million. MATIC at present has a market capitalization of over $5.1 billion and a each day buying and selling quantity of $275 million. Knowledge from Coinglass confirmed that the full open curiosity on MATIC’s perpetual contracts went down by 1.4% over the previous 24 hours.