The live price of POL (prev. MATIC) is - per (POL / USD) with a current market cap of $2.47B USD. 24-hour trading volume is - USD. POL to USD price is updated in real-time. POL (prev. MATIC) is -% in the last 24 hours with a circulating supply of 10.43B.
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Polygon Ecosystem Token (POL) is a hyper-efficient token that is the native gas and staking token on Polygon PoS, and the token that supports the future expansion and security of the network as a blockchain aggregation network.
POL is an upgraded version of the original MATIC token on the Polygon network. This upgrade represents a major upgrade in the utility and role of the token in the expanding Polygon ecosystem.
POL is a multi-purpose token in the Polygon ecosystem, playing a variety of key roles. The coin can be used as a gas token to pay transaction fees on the network, and can also be staked by validators to secure the network through the Proof of Stake (PoS) consensus mechanism. In addition, POL can be used to participate in governance, and its holders can vote on important network upgrades and changes. The coin also drives sustainable growth through a unique issuance model to fund community-supported initiatives. One of the standout features of POL is its role as a "super-efficient" token that supports validators securing multiple chains of the Polygon network, further improving scalability and efficiency.
Polygon PoS uses a proof-of-stake consensus mechanism with POL as a staked asset. This security model enables fast and low-cost transactions through Ethereum's Polygon PoS scaling solution.
Polygon (formerly Matic Network) is a Layer-2 Ethereum scaling solution that aims to solve the scalability issues faced by blockchain networks, especially Ethereum. It provides a framework for creating interoperable and scalable blockchain applications with lower gas fees and faster speeds. Polygon's native token is called POL. Polygon uses Plasma technology to process transactions off-chain and then finalize them on the Ethereum network, achieving high transaction throughput. With the Plasma framework, Polygon can theoretically process more than 60,000 transactions per second on a single sidechain with almost zero fees while maintaining the security and integrity of the main Polygon chain. The network relies on a group of PoS validators to ensure the accuracy and security of off-chain transactions. A key feature of Polygon is its compatibility with Ethereum, enabling developers to easily deploy Ethereum-compatible blockchains. It also supports various decentralized finance (DeFi) protocols and supports applications such as blockchain-based games and NFT markets. POL tokens are used to participate in network governance, pay transaction fees, distribute staking rewards, and stake collateral to become a validator.
Polygon (formerly Matic Network) was founded in 2017 by Jaynti Kanani, Sandeep Nailwal, Anurag Arjun, and Mihailo Bjelic.
POL has multiple uses in the Polygon ecosystem. The coin can be used as a gas token to pay transaction fees on the Polygon PoS network, and can also be staked by validators to protect network security and earn income. In addition, POL holders can also participate in governance and have a say in shaping the future of the Polygon ecosystem. A key feature of POL is that the coin supports cross-chain operations of validators in the AggLayer, further improving the scalability and efficiency of the network.
The initial maximum supply of POL tokens is 10 billion, and the current issuance rate is 2% to support protocol growth and R&D. The circulating supply will depend on the migration process from MATIC to POL, which will begin in October 2024.
Polygon PoS uses an improved version of the Proof of Stake consensus mechanism. Validators stake POL tokens to gain the right to verify transactions and generate blocks. The network reaches consensus with each block, which is more efficient than the traditional Proof of Stake system.
POL is ultra-efficient and supports multi-chain validation, which improves scalability and efficiency. The coin's unique issuance model supports sustainable ecosystem growth, and its role in Polygon's comprehensive scaling solution sets it apart from other Layer 2 tokens.
The POL (prev. MATIC) to other currencies exchange rate?
