Polygon

Halal Rating :
Comfortable
Last Price $0.73 Last updated:
Rank 18
1D Change -1.74 %
Market Cap $7.2b
Circulating supply 9,896,942,873
Maximum supply 10,000,000,000

Crypto Overview

Categories
  • PoS
  • Platform
  • Enterprise Solutions
  • Zero Knowledge Proofs
  • Scaling
  • State Channel
  • Coinbase Ventures Portfolio
  • Layer 2
  • Binance Launchpad
  • Binance Labs Portfolio
  • Polygon Ecosystem
  • Moonriver Ecosystem
  • Injective Ecosystem
  • SEC Security Token

Polygon (Previously Matic Network) is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building multiple types of applications. Using Polygon, one can create Optimistic Rollup chains, ZK Rollup chains, stand alone chains or any other kind of infra required by the developer. Polygon effectively transforms Ethereum into a full-fledged multi-chain system (aka Internet of Blockchains). This multi-chain system is akin to other ones such as Polkadot, Cosmos, Avalanche etc with the advantages of Ethereum’s security, vibrant ecosystem and openness. Nothing will change for the existing ecosystem built on the Plasma-POS chain. With Polygon, new features are being built around the existing proven technology to expand the ability to cater to diverse needs from the developer ecosystem. Polygon will continue to develop the core technology so that it can scale to a larger ecosystem. The $MATIC token will continue to exist and will play an increasingly important role, securing the system and enabling governance.

Crypto Impact

To assign a comfort level investing in Polygon from a halal perspective we need to determine whether it has a net positive or negative impact.

Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Polygon.

If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.

We will review your contribution for accuracy before publication.

Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.

You only have one vote per asset so use it wisely.

You can change your vote if you change your mind.

Justification for our Halal Rating