It was set up in 2017 and was called Matic Network until February 2021 . You might still hear the term Matic Network from time to time, but it is the same thing as Polygon. Polygon is a framework for creating and building interconnected blockchain networks.
Read moreWhat is Matic coin used for?
What is MATIC? Polygon has its own cryptocurrency, called MATIC, which is used to pay fees on the Polygon network, for staking, and for governance (which means that MATIC holders get to vote on changes to Polygon). You can also buy and sell MATIC via Coinbase and other exchanges.
Read moreIs Matic an Ethereum?
Polygon is to Matic as Ethereum is to ETH . There are 10 billion total possible MATIC crypto coins, and as of December 2021, 7.16 billion of them are in circulation. The rest will be minted by stakers – users who deposit their MATIC crypto tokens into a staking smart contract in order to become validators.
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