SekiApp adds Polygon (Matic) to its Crypto Garage

In a bid to strategically broaden the spectrum of trading options and exemplify its commitment to providing a dynamic and user-centric platform, SekiApp takes a leap forward by welcoming Polygon (Matic) into its expansive crypto portfolio. 

Imagine a world where transactions are not just fast but incredibly efficient. That’s precisely what Polygon (Matic) brings to the table, and now, it’s at your fingertips on SekiApp. Whether you’re a seasoned trader or just stepping into the crypto space, this expansion marks a significant milestone in your journey.

Understanding Polygon (Matic)

Polygon, also known as Matic, is a protocol and framework for constructing Ethereum-compatible blockchain networks. It aims to enhance the scalability and user experience of decentralized applications (DApps) on the Ethereum network. In simple terms, it makes transactions faster and more efficient.

Polygon is powered by the MATIC token, which is used for various purposes, such as:

– Governance: MATIC holders can participate in the governance of the Polygon network and its protocols by voting on proposals and delegating their tokens to validators.

– Security: MATIC is used as a staking token to secure the Polygon Proof-of-Stake (PoS) chain, which acts as a checkpoint layer for the Polygon ecosystem. Validators and delegators stake MATIC to validate transactions and earn rewards.

– Gas fees: MATIC is used as a native currency to pay for gas fees on the Polygon network and its sidechains. Gas fees are much lower on Polygon than on Ethereum, due to its higher throughput and efficiency.

Consensus mechanism

Polygon uses a hybrid consensus mechanism that combines Proof-of-Stake (PoS) and Proof-of-Work (PoW). The Polygon PoS chain is the main chain that coordinates and secures the Polygon network. It uses a variant of the Tendermint consensus algorithm, which allows for fast finality and high scalability. The Polygon PoS chain is secured by a set of validators, who stake MATIC tokens and run nodes to validate transactions and produce blocks. Validators are elected by MATIC holders, who can also delegate their tokens to validators and earn a share of the rewards.

The Polygon PoS chain also acts as a checkpoint layer for the Polygon sidechains, which are independent blockchains that run on top of the Polygon network. Each sidechain can use its own consensus mechanism, such as PoW, PoS, or any other algorithm, depending on its needs and preferences. The Polygon PoS chain periodically commits the state of the sidechains to the Ethereum mainnet, which serves as a final arbitrator and a source of security for the Polygon network.

Wallet and Wallet Networks Available on SekiApp

SekiApp users can now access and trade Polygon (Matic) on their dashboards, which supports multiple wallet networks and protocols. Users can choose from the following Polygon wallet network options:

Polygon: 

This is the default option that connects users to the Polygon PoS chain, which is compatible with the Ethereum Virtual Machine (EVM) and supports all Ethereum-based tokens and smart contracts. Users can send and receive MATIC and other ERC-20 tokens, as well as interact with various decentralized applications (dApps) built on Polygon, such as QuickSwap, Aave, and SushiSwap.

Polygon ERC-20: 

This option allows users to bridge their ERC-20 tokens from Ethereum to Polygon, and vice versa, using the Polygon Bridge. The Polygon Bridge is a secure and user-friendly way to transfer assets between the two networks, without paying high gas fees or waiting for long confirmation times. Users can also swap their tokens on the Polygon network using the Polygon Swap feature, which leverages the liquidity and prices of multiple decentralized exchanges (DEXes) on Polygon.

Conclusion

As SekiApp continues to grow its crypto garage, the addition of Polygon (Matic) underscores our commitment to providing you with diverse and innovative trading options. Whether you’re a seasoned trader or just starting in the crypto space, exploring Polygon (Matic) on SekiApp is a journey worth taking.

Trade seamlessly, explore new horizons, and make the most of your crypto experience with SekiApp.