What Is Matic.network? (LEO) Complete Guide & Review About Matic.network

What Is Matic.network? (WMATIC) Complete Guide Review About Matic.network

What Is Matic.network?

Matic.network (previously Network) is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building multiple types of applications. Using one can create optimistic rollup chains, ZK rollup chains, stand alone chains or any other kind of infra required by the developer. Polygon effectively transforms Ethereum into a full-fledged multi-chain system (aka Internet of Blockchains). This multi-chain system is akin to other ones such as Cosmos, Avalanche etc. with the advantages of Ethereum’s security, vibrant ecosystem and openness.

Matic Coin(formerly Network) is scaling solution backed by Binance and Coinbase. The project seeks to stimulate mass adoption of cryptocurrencies by resolving the problems of scalability on many blockchains. Polygon combines the Plasma Framework and the proof-of-stake blockchain architecture. The Plasma framework used by Polygon as proposed by the co-founder of Ethereum, Vitalik Buterin, allows for the easy execution of scalable and autonomous smart contracts.

Matic.network will continue to develop the core technology so that it can scale to a larger ecosystem. Polygon boasts of up to 65,000 transactions per second on a single side chain, along with a respectable block confirmation time of less than two seconds. The framework also allows for the creation of globally available decentralized financial applications on a single foundational blockchain. The Plasma framework gives Polygon the potential of housing an unlimited number of decentralized applications.

PoS-secured Ethereum sidechain. the native tokens of Polygon, is an ERC-20 token running on the Ethereum blockchain. The tokens are used for payment services on Polygon and as a settlement currency between users who operate within the Polygon ecosystem. The transaction fees on Polygon sidechains are also paid in tokens.

Matic.network Storage Key Points

Coin BasicInformation
Coin NameMatic.network
Short NameWMATIC
Circulating Supply5,038,388,130 MATIC
Total Supply10,000,000,000
Source CodeClick Here To View Source Code
ExplorersClick Here To View Explorers
Twitter PageClick Here To Visit Twitter Group
WhitepaperClick Here To View
Support24/7
Official Project WebsiteClick Here To Visit Project Website

Features

Scalability

Matic.network Scalability is realized by using a decentralized Plasma operator mechanism with finality achieved on a main chain.

High Throughput

They can scale to millions of transactions on a sidechain tree architecture. Upto 65k transactions/second on a single chain.

Fast and robust

Dagger uses push mechanism instead of polling whenever a new block gets mined. Works pretty well even on low bandwidth.

Multiple rooms

There are two rooms that you can listen to events from according to the use case: latest and confirmed. Both are implemented considering major use cases in mind.

Standard protocol

The dagger is built on “MQTT” protocol standard. You can develop your own customized client easily as MQTT is industry-standard.

User Experience

Matic.coin smooth UX abstraction from mainchain to chain. Native mobile apps and SDK with Wallet Connect support.

Security

Matic chain(s) operators are themselves Stakers and Delegates in a Proof-of-Stake system in the Network.

Asset Interoperability

Matic Coin Assets on different sidechains across various blockchains will be made inter-operable by in the near future.

One Stop DeFi Platform

Multiple protocols enabling extensive decentralized finance applications can be hosted on Sidechains.

Service

Low cost

Matic.Network Transactions on sidechains cost a 1/100th of the fees as compared to Ethereum

EVM compatible

Matic sidechains are EVM based sidechains. Use the same developer tools as on Ethereum and deploy faster.

Fast ~1s block times

Matic Coin sidechains offer ~1 second blocks for enabling real world use cases

Developer Support Program

They get grants to build on alongside Marketing and Fundraising support.

The Vision

Matic.coin they are a team passionate about decentralization and better products. The current decentralized eco-system lacks usability and convenience. Decentralized transactions are slow, expensive and complex. they aim to change this by leveraging a combination of blockchain scaling, developer platform and tools, and a rabid focus on user experience. they aspire to see a world where blockchain gains mainstream adoption, and fulfills it’s true promise.

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