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BTCS Inc adds Polygon to its blockchain portfolio, stakes over 450k MATIC tokens


April 21, 2022 · By Muhammad Awwal
Polygon (MATIC)

BTCS Inc., a forerunner in the blockchain and digital currency ecosystems, has added Ethereum Layer 2 sidechain Polygon to its blockchain infrastructure operations.

Polygon was added to BTCS’ blockchain infrastructure operations on Wednesday, making it the first Nasdaq-listed business to offer Bitcoin dividends. 

BTCS (BTCS) had staked 456,445 MATIC tokens worth about $654,000 at the time of writing indicating that the corporation is holding a position in MATIC to create compounding rewards. 

BTCS secures disruptive blockchains and is rewarded with digital assets by  actively processing and confirming network transactions. Polygon is BTCS latest addition to its growing ecosystem. The firm added Solana to its infracture in mid-February.

“While Polygon is focused on Ethereum at the moment, it plans to support other blockchains with its scalable technology and provide cross-chain interoperability between different protocols,” BTCS CFO Michael Prevoznik remarked. 

The first publicly traded “pure play” blockchain infrastructure and technology business in the United States believes that cutting-edge software and decentralized systems will power the future of banking and beyond. 

Scalability is one of the difficulties that the Ethereum blockchain faces. As the network is used by more and more decentralized apps and services, and transactions grow rapidly, the gas fees rise tremendously. 

Polygon is a Layer-2 blockchain protocol that uses scaling techniques to assist the Ethereum blockchain acquire mainstream popularity by making transactions more affordable, faster, and safe.

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