Is Polygon a cryptocurrency?

Polygon was one of the top-performing crypto assets on CoinSwitch, in terms of the trading volume . Polygon, formerly known as the Matic network, was founded in India in October 2017 by Jaynti Kanani, Sandeep Nailwal, and Anurag Arjun. Fun fact: The Polygon founders are India’s first crypto billionaires.

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Is polygon a coin or token?

The Polygon platform, powered by the MATIC token , was launched to connect and grow Ethereum-compatible projects and blockchains. MATIC tokens are used to govern and secure the Polygon network and pay transaction fees. Polygon uses a modified proof-of-stake consensus mechanism to efficiently operate the platform.

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