Matic Network 60 Dapps Integrated & Another 60 Currently On-boarding - Ethereum 1.0 High Fees - Ethereum 2.0 Delays - Matic Sidechain Scaling and Lower Fees
Matic Network

Matic Network 60 Dapps Integrated & Another 60 Currently On-boarding - Ethereum 1.0 High Fees - Ethereum 2.0 Delays - Matic Sidechain Scaling and Lower Fees

By Perry1 | Blockchain Innovation | 3 Jul 2020


Matic Network has been experiencing an uptick of Dapp integration in the last few weeks since it began the launch of an Ethereum scaling solution (Sandeep Nailwal, July 2, 2020). It is widely known that Ethereum was never meant to scale for mass adoption; however, the process known as Eth 2.0, designed to scale the platform is yet years away and is experiencing delays. Vitalik Buterin (July 2020) stated that Ethereum would have to rely on other scaling methods for at least two more years before the next upgrade will be ready. Currently, many Ethereum Blockchain enthusiasts are putting their hopes in ZK-rollups which hopes to achieve 2000 TPS once perfected but this is also still at some point in the future. This is certainly a major improvement on the current 10-15 TPS per second but substantially less than the 10 000 TPS which has already been achieved by Matic Network. Chandresh Aharwar (2019) recently stated that Matic has the ability to achieve 65 000 TPS on a single sidechain and multiple chains can be added as needed without much effort.

The scalability issue which has existed since the inception of Blockchains is slowly getting resolved but it will take time as discussed above. In the interim Matic has solved the scalability problem on the Ethereum Blockchain and is ready to be used by Dapp projects as well as enterprise and governments. According to Sandeep Nailwal in a recent interview by Coindesk, approximate 60 projects are using Matic and the team is currently onboarding another 60 - The graphic below lists some of the present time onboarded projects and some Matic partnerships but it is not comprehensive. This is an indication of the level of interest now that Matic Mainnet has launched and its staking program is underway.

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It is important to note that most developers (over 90%) are flocking to Ethereum as Defi Dapp development, games, and other applications have recently reached an all-time high. It was reported that in one seven day period in June gas used in Ethereum transaction reached an all-time high of $61.12 Billion (Godbole 2020). It is getting much more costly to use Ethereum due to the increased transactions and the cost to process them. In response to the current state of the Ethreum Network, Sandeep Nailwal stated the ETH 1.0 is "chocked up" and as a consequence, numerous Dapps are now beginning to rely on Matic 2.0; additionally, fees are 100 times less than on Eth 1.0.

For this purpose, the Matic team began over three years ago to develop and adapt plasma Matic sidechains; the idea of plasma sidechains originated with Vitalik Butilin and Joseph Poon who wrote the original whitepaper.  In reality, Ethereum which is the world's most used and secure blockchain has scalability and high fee problems which the Matic Network is able to provide a solution for.

Matic 2.0 provides scalability and low fees and Eth 1.0 provides security and confidence as the world's premium blockchain.

 

FOR OTHER MATIC ARTICLES BY THE SAME AUTHOR GO TO BLOCKCHAIN INNOVATION

 

Contact a Matic Team Member to Integrate Your Project for Layer 2 Scaling & lower fees

For those interested in building / integrating with the Ethereum / Matic network you can contact a member of the team at https://matic.network/about/ where individual team members contact information can be found, or at info@matic.network

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Some Matic Team Members

 

Cover Image by Tochi - Twitter:  @tie_gunners

 


Perry1
Perry1

I am a teacher and blockchain enthusiast.


Blockchain Innovation
Blockchain Innovation

This blog is devoted to exploring and understanding blockchain innovation and development. In particular, Matic Network is of high interest due to its scalability and 100 times reduced fees of the Ethereum Blockchain.

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