MetaMask is the most trusted cryptocurrency wallet browser extension and app connected to the ETH mainnet. To get the extension, you should visit the official MetaMask website, the correct place to download the wallet extension. To connect MetaMask to Polygon, you must add some blockchain data like network name, chain ID, and RPC URL to MetaMask.
Another safest method to add the Polygon network to MetaMask is via the Chainlist platform. It aggregates the blockchain RPC data and Network ID to make sure users connect to the correct network for secure access to EVM-based chains.
About Polygon (MATIC)
The Polygon (or MATIC) is an L2 scaling solution for the ETH blockchain. It’s a blockchain (decentralized) network of sidechains that enables cheaper and quicker transactions while maintaining the safety of the Ethereum mainchain.
The Polygon network aims to resolve the scalability errors the ETH blockchain faces. The ETH network can only manage a restricted number of transactions every second, which can result in more transaction costs and slow confirmation times during high network usage.
How Polygon Works
Polygon utilizes an updated proof-of-stake consensus mechanism to achieve a consensus with each block. The proof-of-stake mechanism needs network participants to stake, accept, to not trade or sell the MATIC in exchange for the privilege to validate MATIC network transactions. Successful validators in this network receive rewards with MATIC.
As a secondary scaling solution, this network addresses the restrictions of the ETH platform, like slow transaction processing speeds and high transaction costs. Polygon network can do the following:
- Deploy current blockchain networks and create custom blockchains.
- Allow communication between ETH and other blockchains.
- Assist blockchain networks in supporting Ethereum.
Validators: They validate new transactions and connect them to the blockchain. In return, they can get a cut of fees and new MATIC. Becoming a validator means a commitment that needs running a node and staking their own MATIC. If users act maliciously or create problems, they might lose a few of their staked MATIC.
Delegators: They stake MATIC indirectly through a validator. This is a lower-commitment method of staking. But it needs research; if the validator you choose creates problems or works maliciously, you may lose a few or all staked MATIC.
Top Perks of Polygon
Users may wonder about the key strengths of Polygon. If they are considering purchasing MATIC, continue reading to learn the advantages of Polygon.
- Capacity to execute transactions rapidly: By utilizing the consensus method that finishes the transaction confirmation procedure in one block, Polygon can sustain quick transaction processing.
- Low transaction fees: Polygon maintains its fees to utilize the platform lower, with an ideal transaction cost of about $0.01.
How to Add Polygon Network to the MetaMask Wallet
Connecting with the Polygon network needs a compatible digital currency wallet like MetaMask. MetaMask does not have MATIC added by default. Creating a browser wallet to interact with Polygon is easy and requires a few minutes.
Adding Manually
- You can download & install MetaMask from Chrome, Android, or iOS via the official MetaMask website.
- After installing the extension, launch it and set up a new wallet.
- Once your wallet is ready, hit the Network dropdown icon to add Polygon.
- Then, you must pick the Add Network option from the pop-up.
- After this, you should provide the following information on the Add Network page.
- Network Name: Polygon
- New RPC URL: https://polygon-rpc.com or https://rpc-mainnet.maticvigil.com
- Chain ID: 137
- Currency Symbol: MATIC
- Block Explorer URL: https://polygonscan.com
- Finally, you must press the Save button to finish the procedure.
Through ChainList
- Head to the ChainList platform to connect your MetaMask Wallet.
- After connecting the wallet, you must look for Polygon (MATIC) in the search box at the top.
- Then, pick the Add to MetaMask option, and the authorized RPC data will automatically add to your wallet.
Alternative Polygon Wallets
Users can use many Polygon Wallets to hold and transact with the crypto tokens on the Polygon Mainnet. Some leading wallets are Coinbase Wallet, an open-source wallet, a safe crypto wallet compatible with different blockchains, and Trust Wallet, a smartphone wallet accessible for iOS & Android devices.
What is a MATIC token?
Even though Polygon has increased its vision set up by the Matic Network, it still utilizes the same utility token called MATIC.
You can use MATIC for many reasons in the Polygon ecosystem, such as voting on PIPs (Polygon Improvement Proposals), paying gas fees, contributing to safety through staking, and paying gas fees.
Also Read: How to Install MetaMask Wallet: A Step by Step Guide
Conclusion
MetaMask provides a straightforward way to connect with dApps (decentralized applications) on the Polygon (Matic) network via its browser-based digital currency wallet. Connecting the Polygon network with the MetaMask Wallet is easy; just providing the correct RPC data and chain ID. While alternative crypto wallets such as Coinbase Wallet and Trust Wallet are accessible, MetaMask remains a trusted and convenient option for numerous users.
