Polygon is a decentralized scaling mechanism that Ethereum developers may use when creating dApps. Polygon offers a faster network and more security at a reasonable rate. The project, a 2017 initiative, has emerged as one of the most intriguing and profitable in business.
MATIC was its previous name until April 2021, when it changed to Polygon. MATIC is the native token of the Polygon network. Let us take a closer look at Polygon and our price prediction for MATIC this October end.
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What is Polygon?
Polygon was founded by its team in October 2017. The team behind the project is Jaynti Kanani, Sandeep Nailwal, and Anurag Arjun. The team made significant contributions to the Ethereum ecosystem before switching to its network in 2019. The group labored to put the widely-used Dagger event notification engine, the WalletConnect protocol, and the Plasma MVP on Ethereum.
It is a layer 2 proof-of-stake protocol that helps in providing scaling solutions to Ethereum. It employs Plasma technology to confirm off-chain transactions and then push them to the mainnet network. The blockchain also helps developers with tools to build an Ethereum-based decentralized network.
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Price Projection
Cryptocurrency experts at Changelly have given their price prediction for Polygon MATIC for October end 2023. For this timeframe, experts anticipate MATIC’s minimum price to be $0.73. Additionally, the experts state that the maximum price expected is $0.81. Experts anticipate that MATIC will trade at an average price of $0.77.
MATIC is 80.8% down from its all-time high of $2.92 and has a long way to go before breaching its previous all-time high. However, the price can vary depending on various factors, including market sentiment and the project’s development.