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Matic Network (MATIC)

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The Matic Network (MATIC) project is building a scalable blockchain network that offers instantaneous transactions through a variation of the Plasma scaling solution. 

Founded in 2017 by Jaynti Kanani, Sandeep Nailwal and Anurag Arjun, the platform was originally conceived as a result of Kanani’s efforts on a side project that required a large scale of microtransactions. Along with Nailwal and Arjun, the founding team began tinkering with the Plasma architecture after quickly realizing implementations of Plasma had both usability and scalability issues, which spurred the team to develop their own scalable blockchain architecture. 

The scalability issues that Ethereum has faced with large scale use of decentralized apps like CryptoKitties has spurred many projects to develop solutions that could accommodate a large number of simultaneous transactions in preparation for a future time when dapps are the norm. Matic Network is specifically targeting the problems of block time confirmations, high transaction fees and user experience.

The team is overcome these obstacles by modifying the much talked about Plasma architecture, a scalability solution that was first theorized by Joseph Poon and Vitalik Buterin in 2017. Matic Network’s own architecture is a variation of this. Plasma is an off-chain solution that is being reviewed and developed on by multiple projects. The architecture uses a Proof-of-Stake checkpoint system to periodically push transactions to the main chain. The team says that this should allow a single Matic sidechain to achieve 216 transactions per block.

Matic Network has a working Ethereum implementation on the Kovan testnet, and has launched an alpha version on the mainnet. Users can also deposit and withdraw ERC-20 assets using the Plasma implementation. Current development efforts focus on a beta version of the mainnet, Plasma-based asset swaps and generic smart contract support, all of which is expected in Q3 2019. A full mainnet release is expected in Q4 2019 or Q1 2020.

USDT is now available on Matic Network

15 hours ago 1 minute read 0 comments Barineka

The industry’s leading stablecoin, Tether (USDT), is now available on Matic Network Layer2 to overcome Ethereum’s performance constraints! $USDT is the industry’s most popular stablecoin, with a staggeringly large market capitalization of over $15bn....

Matic Network Provides Innovative Opportunity for 2nd Generation DeFi on Layer 2/Fees X1000 Less/Staking Rewards Combined With 100% Non-Repayable Loans/Imagine Yield Farming Multiple Farming Pools & NO Fees/EasyFi/StakeHound

23 Sep 2020 7 minute read 0 comments Perry1

Introduction It is not new news that Decentralized Finance (DeFi) lending and Borrowing is thriving on the Ethereum Blockchain which is currently the DeFi platform of choice. Following the lending and borrowing immersion on blockchain is yield farmin...

Decentralized Applications

19 Sep 2020 2 minute read 0 comments Heritier Mawandu

Blockchain as it's, it was Bitcoin that made it famous. The decentralized distributed ledger's an invention of Satoshi Nakamoto and it's what has increased the value of blockchain technology. Without it, the blockchain would be just an improved Excel...

What DeFi Token is Coinbase Going to List Next?

15 Sep 2020 6 minute read 10 comments Chenhuang_defi

Everybody reading this should know about Coinbase - one of the largest cryptocurrency exchanges in the world. We all know precisely what happens to tokens that are fortunate enough to be listed on Coinbase - they EXPLODE. We have a term for this in t...

15 New Tokens added to Pokket

8 Sep 2020 1 minute read 2 comments scythenoz

What is Pokket? Pokket is a structured savings platform that offers very attractive interests rates as compared to other lending platforms.  Some of the coins are offering as much as over 400% interest rates per annum such as BAND and LEND. How Does...

Why Developers are being attracted to build on Matic rather than the Ethereum Network saving high gas fees and lower the the speed of transaction which is much needed for DeFi

7 Sep 2020 1 minute read 0 comments Cryptozeean

Matic is highly scalable secured and ready to be used for DeFi   Suppose we are in year 2018 again where you can send 1 ETH ($846) for actual transaction cost/fees of 0.000168 ETH and that would be $0.14 and with price more than double of the current...

Oropocket is launching Open Finance protocol(OpFi) on Matic Network to give exposure to Real-world assets through DeFi.

4 Sep 2020 3 minute read 0 comments Barineka

  Open Finance(OpFi) is a fintech convention that empowers guardianship of genuine resources on blockchains and empowers designers to construct applications on head of it. Being open in nature this convention permits consistent joining of other on-c...

Earning in $CEL vs earning in kind. What is best?

31 Aug 2020 3 minute read 0 comments Senzacervello

If you are into Celsius Network and you are not very into finance, very probably you have wondered whether it is more profitable to go for a higher rate and to earn your interest in $CEL (native token of the app) or to accept a lower interest rate, b...

Top-5 Ethereum game Mega Crypto Polisis onboarding to Matic!

27 Aug 2020 1 minute read 0 comments Cryptozeean

Mega Crypto Polis Decentralized City to Use Matic Network for Scalability and Better Adoption       Ethereum gas prices and the congetion of the Ethereum Network has been up from last couple of weeks and this conditions are bothered to every dApps to...

Matic can play a big role in DeFi as far as its matter of the scalability with its L2

26 Aug 2020 1 minute read 1 comment Cryptozeean

In another major step towards deeper integration into the DeFi space, Matic Network announced that MATIC is being added to leading DeFi trading protocol Kyber Network!    Kyber Network is an on-chain liquidity protocol that enables instant, decentra...