Updated – 22nd November 2024
Launched back in October 2017 by an Indian team of blockchain developers and business advisors, Polygon (MATIC) is a framework and protocol for connecting and building Ethereum-compatible blockchain networks.
Since its inception almost four years ago, Polygon’s price in India has seen significant growth, with consistently favourable market trends and strong potential. Much of this is thanks to its ecosystem’s strategic partnerships and network upgrades.
As of 5 January 2022, 1 Polygon’s Price in India is nearly ₹191.437. An attractive trajectory and growth is predicted in its coming future.
Polygon effectively turns Ethereum into a full-fledged multi-chain system that is similar to Polkadot or Cosmos with the advantages of Ethereum’s safety, openness, and vibrant ecosystem.
Backed by Coinbase and Binance, Polygon (MATIC) aims to drive mass adoption of cryptocurrencies by resolving the problems and issues of scalability seen in many blockchains.
What is Polygon (MATIC)?
Formerly known as Matic Network, Polygon is the first of its kind, well-structured, simple, and easy-to-use platform that is meant for Ethereum scaling and infrastructure development.
Its core aspect – the Polygon SDK – is a modular and flexible framework that supports the development of multiple types of applications. Additionally, using Polygon, one can build optimistic rollup chains, stand-alone chains, ZK rollup chains, and other infra required by the developer.
Polygon’s native token MATIC is an ERC-20 token that runs on the Ethereum blockchain and is used for payment services on the network. It is also a settlement currency between users operating within the Polygon ecosystem.
How Does Polygon (MATIC) work?
Polygon (MATIC) is a layer 2 scaling solution focused on reducing the complexity of scalability and blockchain transactions. It uses a customized version of the Plasma framework that is built on Proof of Stake checkpoints that go through the Ethereum primary chain.
This specialized technology allows each sidechain on Polygon to gain more than 65,000 transactions per block. Speaking commercially, the sidechains of Polygon (MATIC) are structurally designed to support a number of DeFi (Decentralized Finance) protocols found in the Ethereum blockchain.
How to Invest in Polygon (MATIC)?
Investing in Polygon (MATIC) entails buying Polygon through one of the numerous platforms accessible in India. Currently, several apps available, make it incredibly simple to obtain and invest in Polygon (MATIC). All you need is a registered account on one of these platforms like WazirX.
The WazirX app displays the most current value of Polygon (MATIC) and other available cryptocurrencies, providing investors with information about the trading volumes, price history, and more.
How to Buy and Sell Polygon (MATIC) in India?
Polygon (MATIC) cryptocurrency can be traded in India through various platforms that provide Polygon purchasing and selling as a service. You start from any leading cryptocurrency exchange platform.
WazirX is at the forefront of Indian cryptocurrency exchanges and is backed by Binance, the largest global cryptocurrency exchange. With WazirX’s QuickBuy option, one can quickly begin investing in cryptocurrencies for as little as Rs 100 in less than a minute.
Is Polygon (MATIC) Legal in India?
Cryptocurrencies such as Polygon (MATIC) are currently not illegal in India, which means anyone can buy or trade them. However, you should keep in mind that Polygon (MATIC) and other cryptocurrencies are unregulated in India, and India is contemplating establishing cryptocurrency regulations to oversee the sector.
