Ethereum Co-Founder states, "We knew it wasn't going to be scalable for sure". There has been much talk of scaling in the past; scalability refers to the amount of transaction per second (TPS)a network can process). The subject is important because, without the ability to effectively scale, blockchains will not be able to be used for mass adoption. Layer 1 blockchains like Bitcoin and Ethereum are unable to match the scalability of Visa for example that can do approximately 1700 per second. On the other hand, Bitcoin does 4.6 TPS and Ethereum about 15. Matic is capable of 10 000 TPS on a single sidechain and multiple sidechains can exist.
Video Source: https://mobile.twitter.com/drawpie/status/1205729017673871362
This dilemma has resulted in innovative and creative developers, such as Matic Network, researching and developing alternative solutions. Matic which is a layer 2 solution operates on the Ethereum Blockchain with the sole purpose of providing scalability to any and all Ethereum built projects.
It is interesting to note at this point that the Ethereum founders knew from the outset that Ethereum Ethereum was not scalable. See the video in the Twitter thread where they say “We knew it was not scalable, that is for sure.” To clarify this is not a criticism but it is important for people to understand that Ethereum is never going to scale without layer 2 solutions like Matic. Matic is part of Ethereum the most widely used Blockchain; Matic inherits some of the Ethereum ecosystem's most valuable features like security which has proven to be highly advanced and dependable.
Although other solutions exist most of them do not compare to Matic with regard to the overall efficiency and functionality. Additionally, for existing projects, it is easier to integrate with Matic than with other blockchains because most of the work has already been done on the Ethereum Blockchain by the developers. Many new projects are also selecting Ethereum / Matic as their network of choice to achieve mass adoption scalability, fast transactions times, ease of use and low transaction fees. All these salient features make the Ethereum — Matic Network the most appealing choice.
In summary, Matic Network will very likely scale Ethereum and is the solution of choice. Blockchains are migrating now from layer 1 to layer 2 solutions as mass adoption and usage draw ever nearer.
FOR OTHER ARTICLES BY THE SAME AUTHOR GO TO BLOCKCHAIN INNOVATION
Links
Video Ethereum Founders Interview stating they knew Ethereum was not scalable
https://mobile.twitter.com/drawpie/status/1205729017673871362
Matic Network Comparison with Other Networks
https://t.me/maticnetwork/175532
Originally Published at Medium.com
