Convert and Swap Polygon MATIC to British Pound GBP
MATIC/GBP: 1 Polygon equals £0.36 GBP
Last update: 10:06 PM, January 22, 2025
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Polygon is falling this week.
The current price of Polygon is £0.36 per MATIC. With a circulating supply of 1,913,783,718 MATIC, it means that Polygon has a total market cap of £690,442,711.15. The amount of Polygon traded has fallen by £2,593,891.10 in the last 24 hours, which is a 56.30% decrease. Additionally, in the last day, £4,607,041.97 worth of MATIC has been traded.
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About Polygon
Polygon was formerly called Matic Network. Polygon (MATIC) is an Ethereum token that powers the Polygon Network, a scaling solution for Ethereum. Polygon aims to provide faster and cheaper transactions on Ethereum using Layer 2 sidechains, which are blockchains that run alongside the Ethereum main chain. Users can deposit Ethereum tokens to a Polygon smart contract, interact with them within Polygon, and then later withdraw them back to the Ethereum main chain. The MATIC token is used to pay transaction fees and participate in proof-of-stake consensus.
Polygon, formerly known as Matic Network, is a platform designed to facilitate the development and scaling of Ethereum-based applications. It aims to address some of the key challenges faced by the Ethereum network, including slow transaction speeds, low transaction throughput, and high transaction fees. At its core, Polygon utilizes a modular, flexible framework known as Polygon SDK, which supports the creation of multiple types of applications. The platform's native token, MATIC, is used for payment services within the Polygon ecosystem and as a settlement currency between users.
Polygon operates on a dual-layer structure consisting of a proof-of-stake (PoS) checkpointing layer and a block producer layer. The PoS layer validates blocks and periodically submits proofs (Merkle roots) of the blocks to the Ethereum mainchain, providing a high level of decentralization. The block producer layer, on the other hand, is responsible for creating blocks at a rapid pace, enabling fast and low-cost transactions. This unique architecture allows Polygon to achieve up to 65,000 transactions per second on a single side chain, with a block confirmation time of less than two seconds.
Polygon's infrastructure is designed to support a wide range of decentralized applications (DApps) without the typical drawbacks associated with proof-of-work blockchains. Its high transaction speed and low cost make it an attractive platform for developers looking to build scalable DApps. Furthermore, Polygon's compatibility with Ethereum allows developers to leverage Ethereum's existing developer community and ecosystem. The platform also supports the creation of optimistic rollup chains, ZK rollup chains, and standalone chains, providing developers with the flexibility to create the infrastructure they need.
Polygon was launched in October 2017 by co-founders Jaynti Kanani, Sandeep Nailwal, and Anurag Arjun. Prior to establishing its own network in 2019, the Polygon team made significant contributions to the Ethereum ecosystem, including the implementation of the Plasma MVP, the WalletConnect protocol, and the Dagger event notification engine. The team's commitment to enhancing the Ethereum ecosystem, coupled with their innovative approach to scalability and infrastructure development, has helped Polygon become a key player in the cryptocurrency space.
How Polygon and British Pound differ
Polygon, previously known as Matic Network, is a platform that aims to facilitate the development and scaling of Ethereum-based applications, striving to address challenges such as slow transaction speeds, low transaction throughput, and high transaction fees. It operates on a dual-layer structure, with a proof-of-stake layer for validating blocks and a block producer layer for creating blocks rapidly, enabling fast and low-cost transactions. The platform's native token, MATIC, is used for payment services within the Polygon ecosystem and as a settlement currency between users. On the other hand, the British Pound (GBP) is a traditional fiat currency, regulated by the Bank of England, and used as the primary medium of exchange in the United Kingdom. Unlike MATIC, the value of GBP is influenced by factors such as inflation, interest rates, and government policy. While Polygon seeks to support a wide range of decentralized applications (DApps) and aims to achieve up to 65,000 transactions per second on a single side chain, GBP transactions are processed through traditional banking systems, which can be slower and involve higher fees.
Frequently asked questions
How much is 1 Polygon in GBP?
Right now, 1 Polygon is worth about £0.36.
How much MATIC could I buy for 1 GBP?
Based on the current rate, you could get 2.77 MATIC for 1 GBP.
How much has the price of Polygon changed?
Polygon price has been declining. Since yesterday, the exchange rate of Polygon has decreased. Since last month, the exchange rate of Polygon has decreased. Since this time last year, the price of Polygon has decreased.
How do I calculate or convert MATIC to GBP?
You can use our MATIC to GBP calculator at the top of this page to convert any amount of MATIC to GBP. We've also created a couple of quick reference tables for the most popular conversions. For example, 5 GBP is equivalent to 13.85 MATIC. Inversely, 5 MATIC will cost about £1.80
How can I buy 1 Polygon on Coinbase?
Polygon is currently available to buy on Coinbase's centralized exchange. Check out our guide to get more detailed instructions on how to buy Polygon.
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MATIC to British Pound conversion tables
The exchange rate of Polygon is decreasing.
The current value of 1 MATIC is £0.36 GBP. In other words, to buy 5 Polygon, it would cost you £1.80 GBP. Inversely, £1.00 GBP would allow you to trade for 2.77 MATIC while £50.00 GBP would convert to 138.52 MATIC, not including platform or gas fees.
In the last 7 days, the exchange rate has fallen by 7.77%. Meanwhile, in the last 24 hours, the rate has changed by 1.92%, and that the the highest exchange rate of 1 MATIC to British Pound was £0.37 GBP and the lowest 24 hour value was 1 MATIC for £0.36 GBP. This time last month, the value of 1 MATIC was £0.38 GBP, which is a 5.81% increase from where it is now. Looking back a year, Polygon has changed by £0.57 GBP. That means that in a single year, the value of Polygon has shrank by 39.08%.
MATIC to GBP performance history
Price 24H ago | Change 24H | Price 1W ago | Change 1W | Price 1M ago | Change 1M | Price 1Y ago | Change 1Y |
|---|---|---|---|---|---|---|---|
£0.37 GBP | -1.92% | £0.39 GBP | -7.77% | £0.38 GBP | -5.81% | £0.57 GBP | -39.08% |
MATIC to GBP
Amount | Today at 10:06 pm |
|---|---|
0.5 MATIC | £0.18 |
1 MATIC | £0.36 |
5 MATIC | £1.80 |
10 MATIC | £3.61 |
50 MATIC | £18.05 |
100 MATIC | £36.10 |
500 MATIC | £180.48 |
1,000 MATIC | £360.95 |
GBP to MATIC
Amount | Today at 10:06 pm |
|---|---|
0.5 GBP | 1.39 MATIC |
1 GBP | 2.77 MATIC |
5 GBP | 13.85 MATIC |
10 GBP | 27.70 MATIC |
50 GBP | 138.52 MATIC |
100 GBP | 277.05 MATIC |
500 GBP | 1,385.23 MATIC |
1,000 GBP | 2,770.47 MATIC |
Today vs. 24 hours ago
Amount | Today at 10:06 pm | 24 hours ago | 24H Change |
|---|---|---|---|
0.5 MATIC | £0.18 | £0.18 | -2.23% |
1 MATIC | £0.36 | £0.37 | -2.23% |
5 MATIC | £1.80 | £1.85 | -2.23% |
10 MATIC | £3.61 | £3.69 | -2.23% |
50 MATIC | £18.05 | £18.46 | -2.23% |
100 MATIC | £36.10 | £36.92 | -2.23% |
500 MATIC | £180.48 | £184.59 | -2.23% |
1,000 MATIC | £360.95 | £369.19 | -2.23% |
Today vs. 1 month ago
Amount | Today at 10:06 pm | 1 months ago | 1M Change |
|---|---|---|---|
0.5 MATIC | £0.18 | £0.19 | -6.21% |
1 MATIC | £0.36 | £0.38 | -6.21% |
5 MATIC | £1.80 | £1.92 | -6.21% |
10 MATIC | £3.61 | £3.85 | -6.21% |
50 MATIC | £18.05 | £19.24 | -6.21% |
100 MATIC | £36.10 | £38.48 | -6.21% |
500 MATIC | £180.48 | £192.42 | -6.21% |
1,000 MATIC | £360.95 | £384.85 | -6.21% |
Today vs. 1 year ago
Amount | Today at 10:06 pm | 1 year ago | 1Y Change |
|---|---|---|---|
0.5 MATIC | £0.18 | £0.29 | -38.64% |
1 MATIC | £0.36 | £0.59 | -38.64% |
5 MATIC | £1.80 | £2.94 | -38.64% |
10 MATIC | £3.61 | £5.88 | -38.64% |
50 MATIC | £18.05 | £29.41 | -38.64% |
100 MATIC | £36.10 | £58.83 | -38.64% |
500 MATIC | £180.48 | £294.13 | -38.64% |
1,000 MATIC | £360.95 | £588.26 | -38.64% |
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