Overview of MATIC: Decoding the Enigma
Before we start with MATIC price prediction, an ideal blockchain platform which Matic Network provides cheaper and lightning-fast transactions eliminating the complexities involved in the decentralized ecosystem. Matic Network has been created with the sole objective of a multifunctional and multipurpose advantage in all walks of life.
|Price Change 24h||13.60%|
|Price Change 7d||-3.21%|
|Market cap||$ 15,659,463,392|
|Circulating Supply||6,872,890,164 MATIC|
|Trading Volume||$ 3,909,599,533|
|All time high||$2.68|
|All time low||$0.003012|
Matic Network was brought to life by CEO Jaynti Kanani (Read the full interview by CrpyotNewsZ here), Sandeep Nailwal, and Anurag Arjun in October 2017 after Vitalik Buterin and Joseph Poon released a whitepaper on the Plasma framework. It was observed by the duo that Ethereum was not fully scalable and hence they coined the benefit of using PoS side chains connected to the root chain. Here each and every individual chain deals with its independent blockchain with its consensus mechanism, block validators and it can create more “child chains” of its own.
Recently, Matic Network, rebranded to Polygon — Ethereum’s Internet of Blockchains. The existing Matic solutions remain functional and high priority. $MATIC token remains important for securing and governing the network.
Most of the developers and projects want to build their scaling solutions within the Ethereum ecosystem in order to benefit from its security and network effects. However, they are struggling to navigate its unstructured scaling landscape and to deal with its implementation complexities.
Hence, Polygon announced plans to enhance its support for the Ethereum network to scale faster and reduce the growing transaction costs. The main objective of Polygon is to decrease the high fees paid on the Ethereum blockchain along with scaling for crypto projects and enterprises. Polygon will introduce structure to this ecosystem and provide a framework to help it grow further and faster.
Polygon: The MATIC Token
The round-the-clock active team of Matic Network has produced interface libraries that are first of their kind. These are tools that help you create programs and implement the interface. The network also brought to the masses a unique MATIC coin in the year 2019.
The current price stands at $0.8, and the total supply of MATIC coin currently stands at 10,000,000,000.
Vantage Polygon: The Vast Potential
For payments, integrating MATIC on dapps enables settlement of payment whenever, wherever. The confirmation of such transactions gets processed in a fraction of seconds. This happens due to faster block generation times wherein the fees are the lowest. MATIC provides APIs/SDKs for dapps, merchants, and users to instantly accept or pay in crypto assets like ERC20 tokens, ETH, and others.
MATIC enables decentralized exchanges to offer expeditious and inexpensive trades for their users. Integration with MATIC helps these exchanges to run on steroids making them trustworthy and secure. No wonder this decentralized exchange drives the future of digital assets.
Moreover, it reinforces gaming networks thereby speeding up their performance in processing transactions since all the processes in the gaming world happen over blockchain, they become more reliant on Matic Network.
Personal data security is another accountability zone of Matic Network as it is in itself a blockchain scalability platform an adapted version of Plasma.
The users tend to send and receive payments in the currency of their choice through MATIC smart contracts as it handles the conversion through atomic swaps between cross-chain crypto assets.
Matic also acts as a Lending & Credit scoring platform for merchants. The traders can ascertain the worthiness and credibility of their borrowers viewing their transaction history facilitating lending of tokens to those who stand a better chance of timely repayment.
Through an open-identity system, Matic ensures that users have control over their private keys without worrying about their security or divulging of personal keys.
More advantages follow……..
- Multifunctional attributed to Matic enables diversified uses of existing apps including security and safety of data and transactions.
- Matic ensures Accessibility especially in Layer 2 solutions
- Variety of Application platforms offered on Matic creating a surreal experience.
- Intertradability is another key feature of Matic via DEXs
- Through Zapier integration through Dagger on Matic developers can onboard Ethereum platforms that boost mass adoption thereby enhancing productivity and supporting more apps in the process.
- Matic allows access to partnership via Decentraland, Zebi, Hey Coral, and MakerDao.
- Plasma operator mechanism of Matic enables scalability allowing up to 65k TPS.
- Plasma wallet mobile app integrated with WalletConnect, to ensure secure storage of keys, intuitive access to the features provided by the Matic.
- Features supporting mobile applications and developer kits are extremely user-friendly and have their independent version of the PoS algorithm.
- A plethora of DeFi apps can be posted on Matic’s sidechains.
What is Cooking in Matic Lab:
According to Matic Network price prediction, Matic Network has always been aggressive on partnerships and bringing constant updates in tandem with the latest technology and hence projects always have something innovative to bring to a platter.
The Recent announcements include the following updations:
- Alpha and Beta versions of Mainnet been launched
- Deposits and withdrawals of all Ethereum based assets supported
- Support of ERC721-ERC20, ERC20-ERC20, ERC721-ERC721 transactions enabled
- Facilitation of adaptation of Proof-of-Stake validators
- Offering API and SDK’s toolkit for easy, simple, and secure dapps development
With the objective of becoming the most trusted and safe staking service provider Matic has made a giant leap in the staking services. It plans to amalgamate more companies in its network with this aim.
Emerging the best ever staking ecosystem Matic has established an alliance with stake.fish, stake capital, and staked. The delegates of PoS and stakers managed consensus and security. Stakers also get the liberty to choose Block producers.
Polygon (MATIC): Showcasing an Unparalleled Performance
The actual strength of the Matic Network lies in the fraud-proof mechanism. By implementing PoS at the checkpoint layer as well as delegates at the block producer layer, Matic ensures optimum decentralization. This mechanism entails users to submit details of any fraudulent transactions suspected. As a result, fraudulent cases are slashed. This mainchain security is supplementary to the PoS protocol security on the side chains.
Another feature of the Matic Network is the implementation of Plasma which is built on state-based sidechains running on EVM. This makes Matic Network give scalability for generic smart contracts. The public check-pointing layer which works on periodic intervals makes the network permit side chains to operate at high speeds while publishing the checkpoints in batches.
Layer scaling solutions with decentralization are ultimate Polygon objectives. The expanse is vast and does not limit itself to financial transactions/ trades but other casual dapps like games etc. too. Another benefit with Plasma cash that Matic harnesses is using checkpoints for 1-second block times (with PoS layer). As Plasma Cash works with Non-Fungible Tokes (NFT), it works great for game cards and social state changes where you have pre-defined fees (bundled as NFT – eg “20 tokens” to play game equals 1 NFT coin on plasma cash). In scaling projects viz. Polygon and Quarkchain, Polygon remains outstanding with its unique trait to access scale attaining an optimum decentralization.
Built on the Ethereum mainchain, Polygon has the advantage of programming language, developer documentation, etc. readily available and it does not have to build everything from scratch. This is so mainly as Matic Network is an EVM based side chain.
In the payments segment too, Matic Network outshines its competitors like Raiden Network and others mainly because of Matic’s underlying technology there is no requirement of separate payment channels for users and they only need to have a valid Ethereum address to receive tokens.
A majority of financial service applications like DEXs, Lending DApps, and many others can be easily accessed by Matic Network users. Ultimately, it can be seen that Matic has endeavored an exemplary move to enhance customer experience facilitating the user-friendly implementation of tools.
Matic Network on Partnership Spree:
In order to leverage more scalability with Matic, Somnium Space has joined hands with Matic for launching a secondary land offering. Integration with Chainlink proved the second most influential nuptial for Matic as it integrated with Ankr Network, Spring Role Marlin, Stack City, Cere Network, Nestree, Prometheus, and Tokamak. This allowed Matic to enter a different space of assets viz. Data Brokerage, integrated messaging apps, WiFi ad Bidding, spearhead Enterprise Adoption, Decentralized oracle, scaling research & recruitment worldwide.
Decentraland, Zebi, Maker DAO, Parsec Labs also invested in Matic coupled with a public offering. Matic being listed in the top Indian exchange platform viz. WazirX, more news is awaited.
Technical Analysis of Historical Price Movement of Polygon (MATIC)
The psychology of users plays a pivotal role in the crypto market sentiment. Prices are very sensitive to the crowd’s mental approach towards giving a push to any crypto token. MATIC coin too is no exception. The inertia that initially played for Matic in 2019 is no more there as the token has gained customer trust bringing profit for investors as well as traders. The downswing that played for token in 2019 evaporated in the backdrop of its technological solutions. They were by no means paradigm but sure in the EnY perspective, it can be said the token was being tracked for movement.
In the past 30 days, the Polygon price has crossed the $0.89 mark. In May 2020, Matic price traded at $0.015, while in less than a year, it shot up to $0.89. A frequently and keenly observed trait of Polygon is that it has shown the most erratic and fluctuating behavior. Showing optimum bullish trends, it surprises with downward bear pinning down movement.
MATIC Coin Price Chart
Experts’ Take on Matic Price Predictions
While some experts have an optimistic view on Matic stating the coin may outperform its rivals, others hold their cards close to their chest.
Based on our forecasts, a long-term increase is expected, the MATIC price prognosis for 2021 is $1.5 while for 2025, it might cross $7 mark. With a 5-year investment, the revenue is expected to be around +1518.96%. Wallet Investor’s MATIC price prediction for 2021-2025
The biggest landmark victory for MATIC is that it would cross $1 and calculating ROI percentage will be around 4730%, so with 5-year HODL, it will be worth betting on Polygon. With an increased risk of loss, we would recommend MATIC to be a reasonably good short term investment though. Reddit Users’ MATIC technical analysis and price prediction
The expected maximum price of MATIC at the end of this year shall be around $0.89. MATIC price is set to rebound by June post-pandemic and vaccination availability over the globe that would reflect a good peak, a minimum price of $0.99 by end of the year 2022 which it is sure to scale. Trading Beasts’ MATIC technical analysis and price prediction for 2021-2022
MATIC is entering a highly competitive and ruthless space—off-chain scaling. Given the listing on esteemed platforms and is the brainchild of impressive tokens, a price surge in MATIC can be certainly expected. GoodTime Nation
As per our data, the asset price has been in an uptrend for the past 1 year. Polygon has been showing a rising tendency so we believe that similar market segments were very popular in the given time frame. Future price of the asset is predicted at $1.976671 (364.007% ) after a year. GOV Capital’s MATIC price prediction
Polygon has gained trusted credibility among enterprise businesses. Its projected growth is set to reach extreme highs, similar to what was seen during the ICO boom and crypto hype bubble. MATIC has long been a panacea for application developers. Solutions for real-world problems like currency transfers, and distributed finance have found a base with Matic.
The MATIC price prediction and forecasts of various experts do not deter it from outperforming the rivals by any means. The Matic community has set higher benchmarks for itself notwithstanding. The MATIC coin price shall surpass the expectations of all cryptocurrency investors who have found this platform extremely interactive and uncomplicated.
Our Verdict on Polygon (MATIC) Price Prediction: 2021-2025
As a non-mineable token, MATIC currently stands at a price of $2.34 with a market capitalization of $14,372,165,702, which puts it in the position of 36 in the global cryptocurrency rankings. There are 6,145,590,937 MATIC tokens available in supply currently.
After February, MATIC price hiked by 165%, and its best price was $0.8933 USD showing great potential but big milestones yet to be achieved. Given the Covid-19 scenario looming large, it was of course a commendable performance for Matic Network.
The best tip to invest in MATIC coin will be to wait for another fall, as currently according to MATIC coin price prediction, it is at the peak. Even though there could be misleading surprises for us in terms of the token, like any other cryptocurrency, it is wise to wait for another round of upward bullish push.
Even though other major crypto giants seem to be getting social media hype, MATIC will sure steadily show a positive pattern, constantly rising, and the year 2021 will be the year of MATIC with the prediction of a minimum of $3 for sure.
The demand and supply trends in the average trading volume reveal the increasing demand for MATIC tokens on the backdrop of the decreasing supply of the corresponding cryptocurrency.
Volatility, despite being the inherent trait of all cryptocurrencies, overpowers the choice of most traders. Even though pandemic shook the roots of the fiat currencies, cryptocurrencies like MATIC took the world by surprise showing gains despite the crisis. Hence, volatility represents an immensely important aspect of crypto trading. While analyzing MATIC, one can’t afford to ignore the attributes of artificial intelligence and deep learning mechanisms that go behind MATIC coin.
Matic Network has brought past investors well over 60% returns before the onset of a new year. MATIC is an especially great asset for traders who can take advantage of these price swings with a long or short position and let us what industry experts forecast for investment next 5 years:
MATIC Price Prediction 2021
Having witnessed a massive dapp adoption in 2021 that drove the price of MATIC. The partnerships and alliances shall push the scalability of the network to 1,00,000 transactions per second. The Polygon ecosystem is super popular with numerous projects built on it, given the advancements are maintained we can see the MATIC price soar to $3 mark making it new all-time high with $2.68.
MATIC Price Prediction 2022
With partnerships & alliances, and community funding, the market looks back at MATIC to perform, reaching a level of $3.4, which is quite optimistic but surely feasible.
MATIC Price Prediction 2023-2025
It will be too early for MATIC price prediction 2030, with current scenario it’s good to go with MATIC price prediction 2025. Any changes in Govt. policies and regulations, Polygon may too have its share of hazy days. MATIC should sail calmly at $3.5 or max bow down to $1.9 making it not plummet but play consistent.
It would not be an exaggeration to find that the MATIC price will scale a peak of $3 someday though the same can’t be called a very overstated and buoyant reach.
MATIC price prediction has truly somersaulted in the last year totally transforming the trend from beginning towards the end of the year. It has had a historic journey throughout. All said and done Matic’s trend has been quite aggressive leading to a very optimistic path. The token may grow in leaps and bounds, especially for alliances. New Partnerships would bring MATIC to the limelight making it the center stage for investments and a socially esteemed cryptocurrency. In the process, more transactions shall be executed with every passing second which may prove a tough challenge for crypto rivals of Matic.
But surely the BULL WILL BE BACK !!
Conclusion: MATIC: Blockchain Redefined
A major gem in MATIC crown is its ability to constantly upgrade and innovate. It has already adopted a PoS mechanism and thus has huge growth expected in the upcoming years. The price horizon is pretty bright for MATIC. It does not solely bank on decentralization. Another icing on the MATIC cake is that crypto exchange prepares for Matic Network IEO.
Apart from the adaptation to the Plasma framework Matic network aims to offer off/side chain scaling solutions for blockchains. Matic Foundation is also having the goal to provide Matic wallet, payment APIs & SDKs, products, identity solutions, and other enabling solutions facilitating developers to design, implement and migrate dapps built on base platforms like Ethereum. The fundraising initiatives of MATIC include a seed sale round of $165K and an Early Supporter Sale of $450K that together will make up for 19% of the total token allocation.
Governments worldwide are taking measures to restore the economies and it is set to have an influential impact on Matic too. This should make MATIC an active and safe haven for investors.
All these factors and plans are surely enough to make the MATIC King rule the crypto world…..isn’t it?
Can MATIC reach $1?
Going by the long term, say 1 year, the MATIC price can escalate to $1. The long-term earning potential is +51.05% in one year.
Is MATIC a good investment?
Surely. It is also necessary that you do your own due diligence before you invest in any project.
When does the reward get distributed?
On submission of a checkpoint, rewards are distributed. Currently, they are proportionately allocated on each successful checkpoint submission to each delegator based on the stake relative to the overall staking pool of all validators. However, the percentage may vary based on the stake of a delegator.
Also, a 10% proposer bonus is expected for those who submit the checkpoint every 34 minutes. If there is congestion in the network, the submission may be late too.
Why does reward keep getting decreased at every checkpoint?
With more MATIC tokens getting locked in staking contracts, the rewards earned will depend on the actual total locked supply in the network at each checkpoint. This is expected to vary significantly as more MATIC tokens get locked in the staking contracts.
How can I claim my rewards?
You can claim your rewards instantly by clicking on the “New Rewards” card and then clicking on the Withdraw rewards button. This will transfer the rewards accumulated to your delegated account on Metamask.
What is the unbonding period?
The unbonding period is applicable to the initially distributed amount and re-delegated amount. Presently the period on MATIC is approximately 9 days.
Will I still get rewards after delegating to an External Node?
Yes, rewards will be distributed the same as earlier with the Foundation nodes. Every successful submission of a checkpoint will yield rewards. Rewards will be distributed and calculated at every checkpoint relative to the stake ratio, as currently implemented.
Will there be any unbonding period if I unbond from an External Node?
Yes, the unbonding period will stay the same as currently implemented with 424 Checkpoints.
When do you expect a live implementation of MATIC to be launched?
The implementation is live already and even put on youtube. There was also a demonstration in Mumbai recently done on Kovan Testnet.
Why will it be difficult to replicate MATIC’s plasma implementation?
Our getting the GPL license mandates anyone imitating our implementation to open source their code compulsorily. As regards copying code, it is as much available to Bitcoin and Ethereum, as to any other.
What is the expected TPS you’ll be able to bring to the Ethereum network? What are you running now on testnet?
A single sidechain has the capacity of 2^16 (65,000+) transactions per second. Matic Network has the capability to add multiple sidechains. Initially, our concentration is on bringing more stability with one sidechain.
What is the actual need for having a MATIC token required?
The following reasons reinforce the need of having Matic token:
- a) Having started on Ethereum as our first base chain, we as Matic can work on multiple base chains in the future. Hence we aspire to be common scaling solution providers for public blockchains.
- b) Reason 2 is that we intend to use a liquidity pool like Kyber to facilitate Dapps paying off-network fees by abstracting a token swap mechanism. This would create an impeccable user experience.
- c) With Matic tokens, we have provisioned a large percentage of tokens to be distributed for seeding block producer, checkpointer stakes, and subsequently offer block rewards. You need Matic tokens only when you want to deploy on Matic Mainnet, where the gas fee is much lower than Ethereum, around 1/100th of a txn fee you pay on Ethereum.
What other platforms are you aiming toward, and is there a timeline for implementation?
Our current priority is to make Mainnet live on Ethereum. Soon plans shall be declared for other Blockchains too.
What are the new launches in Matic kept secret?
We intend to launch the alpha version of our Mainnet with working dapps before the token sale. We do have four teams building their solutions on top of MATIC. One of them is a banking wallet in India, 1 in the gaming segment, 1 in referral marketing, and 1 in the ad network. There are others in the pipeline but are not yet finalized.
What drives the use and demand for MATIC tokens?
Of course, the primary use of the token is to pay transaction fees:
- To stake for PoS consensus participation for checkpointing layer and block production layer
- To create a flawless user experience enabling Dapps
- To facilitate faster and speedy withdrawals and transactions
- Protocol Level burning of tokens to make it deflationary in nature
- Keeping a low-entry barrier for higher adoption