MATIC/TRY: Convert Polygon (MATIC) to Turkish Lira (TRY)

1 Polygon equals TRY 13.83 Turkish Lira

Last update: 6:32 AM, September 20, 2024

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Overview

About Polygon (MATIC)

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.

Resources

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 (MATIC) and Turkish Lira (TRY) differ

Polygon, previously known as Matic Network, is a platform that aims to facilitate the development and scaling of Ethereum-based applications. It seeks to address key challenges of the Ethereum network such as slow transaction speeds, low transaction throughput, and high transaction fees. Polygon's native token, MATIC, is used for payment services within its ecosystem and as a settlement currency between users. On the other hand, the Turkish Lira (TRY) is the official currency of Turkey, regulated by the Central Bank of the Republic of Turkey. Unlike MATIC, which operates on a dual-layer structure consisting of a proof-of-stake (PoS) checkpointing layer and a block producer layer, the Turkish Lira is a traditional fiat currency, subject to monetary policies and inflation rates. While Polygon's infrastructure supports a wide range of decentralized applications (DApps) and aims to achieve up to 65,000 transactions per second on a single side chain, the Turkish Lira is used for conventional transactions and does not have the same scalability or speed. Furthermore, while Polygon's value can fluctuate based on market demand, the Turkish Lira's value is influenced by economic factors such as interest rates, economic growth, and political stability.

Polygon Markets

Polygon is climbing this week.

The current price of Polygon is TRY 13.83 per MATIC. With a circulating supply of 2,998,958,159.946 MATIC, it means that Polygon has a total market cap of TRY 41,499,734,346.06. The amount of Polygon traded has fallen by TRY 81,139,990.83 in the last 24 hours, which is a 6.15% decrease. Additionally, in the last day, TRY 1,318,905,151.90 worth of MATIC has been traded.

Market cap

£41.5B

Volume (24h)

£1.3B

Circulating supply

3.0B MATIC

See all metrics

Conversion tables

The exchange rate of Polygon is decreasing.

The current value of 1 MATIC is TRY 13.83 TRY. In other words, to buy 5 Polygon, it would cost you TRY 69.16 TRY. Inversely, TRY 1.00 TRY would allow you to trade for 0.0723 MATIC while TRY 50.00 TRY would convert to 3.6148 MATIC, not including platform or gas fees.

In the last 7 days, the exchange rate has increased by 7.7%. Meanwhile, in the last 24 hours, the rate has changed by 2.5%, which means that the the highest exchange rate of 1 MATIC to Turkish Lira was 0.4085 TRY and the lowest 24 hour value was 1 MATIC for 0.3927 TRY. This time last month, the value of 1 MATIC was TRY 15.11 TRY, which is a 8.47% increase from where it is now. Looking back a year, Polygon has changed by TRY 4.61 TRY. That means that in a single year, the value of Polygon has shrank by 24.98%.

MATIC to TRY

Amount	Today at 6:32 am
0.5 MATIC	TRY 6.92
1 MATIC	TRY 13.83
5 MATIC	TRY 69.16
10 MATIC	TRY 138.32
50 MATIC	TRY 691.61
100 MATIC	TRY 1,383.22
500 MATIC	TRY 6,916.10
1,000 MATIC	TRY 13,832.21

TRY to MATIC

Amount	Today at 6:32 am
0.5 TRY	0.0361 MATIC
1 TRY	0.0723 MATIC
5 TRY	0.36 MATIC
10 TRY	0.72 MATIC
50 TRY	3.61 MATIC
100 TRY	7.23 MATIC
500 TRY	36.15 MATIC
1,000 TRY	72.30 MATIC

Today vs. 24 hours ago

Amount	Today at 6:32 am	24 hours ago	24H Change
0.5 MATIC	TRY 6.92	TRY 6.75	+2.50%
1 MATIC	TRY 13.83	TRY 13.49	+2.50%
5 MATIC	TRY 69.16	TRY 67.47	+2.50%
10 MATIC	TRY 138.32	TRY 134.95	+2.50%
50 MATIC	TRY 691.61	TRY 674.73	+2.50%
100 MATIC	TRY 1,383.22	TRY 1,349.46	+2.50%
500 MATIC	TRY 6,916.10	TRY 6,747.31	+2.50%
1,000 MATIC	TRY 13,832.21	TRY 13,494.63	+2.50%

Today vs. 1 month ago

Amount	Today at 6:32 am	1 months ago	1M Change
0.5 MATIC	TRY 6.92	TRY 7.56	-8.47%
1 MATIC	TRY 13.83	TRY 15.11	-8.47%
5 MATIC	TRY 69.16	TRY 75.56	-8.47%
10 MATIC	TRY 138.32	TRY 151.13	-8.47%
50 MATIC	TRY 691.61	TRY 755.63	-8.47%
100 MATIC	TRY 1,383.22	TRY 1,511.26	-8.47%
500 MATIC	TRY 6,916.10	TRY 7,556.31	-8.47%
1,000 MATIC	TRY 13,832.21	TRY 15,112.62	-8.47%

Today vs. 1 year ago

Amount	Today at 6:32 am	1 year ago	1Y Change
0.5 MATIC	TRY 6.92	TRY 9.22	-24.98%
1 MATIC	TRY 13.83	TRY 18.44	-24.98%
5 MATIC	TRY 69.16	TRY 92.19	-24.98%
10 MATIC	TRY 138.32	TRY 184.37	-24.98%
50 MATIC	TRY 691.61	TRY 921.86	-24.98%
100 MATIC	TRY 1,383.22	TRY 1,843.73	-24.98%
500 MATIC	TRY 6,916.10	TRY 9,218.63	-24.98%
1,000 MATIC	TRY 13,832.21	TRY 18,437.26	-24.98%

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