What is Polygon? Bringing the World to Ethereum!

Polygon has its own cryptocurrency "MATIC", which is named after Polygon's predecessor Matic Network and is issued in the ERC 20 format. MATIC tokens can be used to pay for NFT minting fees and transaction fees on Polygon. Any activity that occurs on the Polygon chain can be paid through MATIC.

In addition to direct purchase, MATIC can also be earned by providing services to the Polygon network. For example, staking MATIC to assist in PoS verification can be exchanged for a certain percentage of MATIC rewards. In addition, users who hold and stake MATI can vote on Polygon upgrades. Each vote is proportional to the amount of MATIC they stake, and the total issuance of MATIC tokens is fixed, which means that there will always be only 10 billion MATIC tokens in circulation.

If you want to know how to use MetaMask (Little Fox Wallet) to buy MATIC, please refer to the link.

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It is currently expected that the merger of Ethereum and ETH 2.0 will begin on September 19. Many people are worried that this will have an impact on Polygon's ecosystem. Polygon officials also responded to this: "The merger of Ethereum is good news for Polygon." Ethereum benefits from Polygon's latest expansion plan, Polygon zkEVM, and Polygon also benefits from the overall growth of the Ethereum ecosystem. Simply put, they coexist and prosper with each other.

Therefore, if Ethereum increases its operating capacity in the future and with the breakthrough of Polygon zkEVM, Ethereum and Polygon will process transactions at a lower cost and faster speed, helping Polygon become the preferred transaction layer for users and builders, and bringing more users into the Ethereum ecosystem.

There are currently more than a thousand application projects on Polygon, including a subsidiary of Mercedes-Benz, a world-renowned German luxury car brand, which has deployed a blockchain data sharing platform "Acentrik" specifically for enterprise services on Polygon. nspace’s Dragon Tiger Gate NFT and “Zhi DAO” NFT are also projects built on the Polygon chain. If you want to know more about the ETH 2.0 Ethereum merger, please subscribe to nspace or join our community platform to get more Web3 related sharing!

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