December 2023 Forecast: What's in Store for Polygon (MATIC)?

• Polygon: A Promising Decentralized Scaling Solution
• Understanding Polygon
• The Technical Perspective
• Polygon's MATIC: Price Forecast
• Future of MATIC
• Potential Market Movements

Polygon: A Promising Decentralized Scaling Solution

Polygon$0.967 -3.65% is a decentralized scaling technology that Ethereum$2,315 -2.42% developers can utilize in their dApp creation process. The technology offers an improved network speed and enhanced security at an affordable cost. This project launched in 2017 and has since become an intriguing and profitable venture. Until April 2021, it was known as MATIC, which is now the native token of the Polygon network.

Understanding Polygon

Polygon was established in October 2017 by a team of dedicated professionals: Jaynti Kanani, Sandeep Nailwal, and Anurag Arjun. These individuals had already made significant contributions to the Ethereum ecosystem before they transitioned to their own network in 2019. They were instrumental in the development of the Dagger$0.012 4.32% event notification engine, the WalletConnect protocol, and the Plasma MVP on Ethereum.

The Technical Perspective

Polygon operates on a layer 2 proof-of-stake protocol that provides critical scaling solutions to Ethereum. Using Plasma technology, it validates off-chain transactions before pushing them to the mainnet network. The Polygon blockchain also provides developers with the necessary tools to establish an Ethereum-based decentralized network.

Polygon's MATIC: Price Forecast

Future of MATIC

The cryptocurrency experts at Changelly have provided a price prediction for MATIC for December 2023. For this period, they expect MATIC's minimum price to reach $0.7845. They also anticipate a potential maximum price of $0.8530, with an average trading price of $0.8146.

Potential Market Movements

Currently, MATIC is down by 73.76% from its all-time high of $2.92. It still has considerable ground to cover before it can surpass its previous all-time high. However, it is essential to note that these price projections can fluctuate based on several factors, including overall market sentiment and the project's ongoing developments.

Edited by Jonathan Stoker