“Matic” has become one of those cryptocurrencies that have piqued the interest of investors in the cryptocurrency market. For the past year, the digital coin has shown a humongous growth rate and has shown a bullish trend in the digital currency market subject to some correction. Recently the founder of Matic, Anurag Arjun, Jaynti Kanni, and Sandeep Nailwal announced that they are expanding their mission and becoming “Polygon”. Polygon is the internet blockchain of Ethereum and the focus is mainly on providing a compatible and powerful multi-chain system for Ethereum.
Matic, now known as the Polygon was founded in the year 2017, by Jaynti Kanani, Anurag Arjun, and Sandeep Nailwal. Kanani and Nailwal hold vast experience in blockchain development while Anurag has deep knowledge as a business consultant. Polygon is a simplified and well-structured platform and was developed to solve the issue of delayed transactions and high fees on ethereum and for that, the polygon uses a Layer 2 scaling solution that allows instant blockchain transaction. At present, the market capitalization of the digital coin is $11,770,185,781 and has a market share of 0.74%.
As per the reports, when the coin was first released in the digital currency market, the market capitalization was somewhat around $26 million, however, with a time span of two years, the coin has a valuation of $14 billion. This rise in the market price of Polygon has made its co-founder into billionaires. As per the reports, it has been reported that the owner of Dallas Mavericks of NBA, Mark Cuban has also invested a huge amount into Polygon, however, the amount has not been disclosed yet.
Besides, Cuban, it has been reported that there are also other investors from India and also across the world, who have invested funds in Matic. Also, as India is facing the aftermath of the second wave of the Wuhan virus pandemic, the co-founders of Polygon are raising funds and as of now, the company has raised more than $1 billion. In an interview, Nailwal was asked whether the government of Maharashtra is showing interest in the Polygon blockchain for securing the ongoing virus test outcomes.
On this, Nailwal said that as of now, the answer is no, as the government of Maharashtra is not working with us formally, however, some of the small entrepreneurs from Maharashtra are working with us. Later, Nailwal said that even if the government wants to maintain and store the results of the virus on our blockchain, they actually do not need our permission. Polygon has a promising future in the coming years and there is absolutely no doubt about it. During the mining of Matic, it emits less carbon emission as compared to Bitcoin. Thus, this makes Polygon an eco-friendly coin. Stay tuned with us.
