In the following article, we will learn about polygon currency Stake. The developers of the polygon network provided a solution for the scalability of Ethereum as well as the creation of the blockchain internet. This network was previously known as Matic network. To learn more about the Matic token and learn about the steps of the polygon currency Stake, stay with us on the Arzdigital site.
The ecosystem built on the polygon platform can multiply the speed of the Ethereum network and reduce the cost of transactions, as well as increase their security. Users who own MATIC can share or stake their tokens to get rewards. MATIC and Metamask web wallets are needed for this operation.
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MATIC
The main token of polygon network is called MATIC. It is a layer two scalability solution that was designed to increase the transaction power and reduce its cost for Ethereum users. The Proof-of-Stake consensus mechanism is used to confirm transactions and also maintain the level of security of the Ethereum blockchain.
In fact, staking helps secure the network and users are rewarded for doing so.
polygon digital currency Stake.
To Stake this currency, you need a Matic Web Wallet. This wallet is a web wallet for managing MATIC tokens with an easy user interface. This wallet is a tracker where users can track transactions and receive rewards.
Metamask is one of the most popular online wallets for Ethereum tokens, which is very easy to install and use. Recently, this wallet also supports the Binance network. You must select and download the browser version.
Find and select the Metamask wallet in the list, enter the wallet password and unlock it. Select the account where you keep MATIC tokens or you want to use it for polygon currency stick and click NEXT.
Now select the Connect option. One thing you should pay attention to is that you have to choose Ethereum Mainnet to connect to Matic wallet. Accept Matic’s wallet request to allow it to perform transactions from your Metamask wallet. Click the sign option. Your wallet has been connected.
Then you need to find a validator to hand over the tokens to. Validators ensure network security. Only lenders can share crypto assets directly.
After connecting Metamask for polygon Stake you go to control panel in Matic wallet to stake tokens. Select the Apps option and then tap Staking. Select Validator. Select Matic value for Polygon currency Stake. Wait for the transaction to be confirmed. To complete the transaction and stake Polygan currency, you need to buy a coupon in the Matic wallet and pay the gas fee. Confirm the transaction. Now you receive rewards that you can withdraw or reinvest.
