Matic to 3$?

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.

The name MATIC comes from an earlier stage in Polygon’s development. After launching as Matic Network in October 2017, developers rebranded as Polygon early in 2021.

What is MATIC’s current price? Check MATIC’s price

How does Polygon work? You can picture Polygon as being like an express train on a subway — it travels along the same route as the regular train, but it makes fewer stops and thus moves much faster. (In this analogy the main Ethereum blockchain is the local train.) Polygon uses a variety of technologies to create this speedy parallel blockchain and link it to the main Ethereum blockchain.

To create new MATIC and secure the network, Polygon uses a proof-of-stake consensus mechanism — which means that one way you earn money on MATIC you hold is via staking.

Validators do the heavy lifting — they verify new transactions and add them to the blockchain. In exchange, they may receive a cut of fees and newly created MATIC. Becoming a validator is a commitment that requires running a full-time node (or computer) and staking your own MATIC. If you make an error or act maliciously (or even if your internet connection is glitchy) you could lose some of your staked MATIC.

Delegators stake their MATIC indirectly via a trusted validator. This is a much lower-commitment version of staking. But it still requires research — if the validator you pick acts maliciously or makes errors you could lose some or all of your staked MATIC.