MATIC (Matic Network)

  • MATIC (Matic Network)
  • Introduction

    Matic Network solves the above problems by building a decentralized platform using an adapted version of Plasma framework that provides a solution for faster and extremely low-cost transactions with finality on the main chain.

  • About The Project

    About MATIC Token MATIC is the utility token used on the Matic Network blockchain. It has a range of purposes, including paying network transaction fees and participating in Matic Network’s Proof-of-Stake consensus mechanism. Due to demand, MATIC has also been integrated into several external platforms as a payment method.
    Matic Network is a Layer 2 scaling solution backed by Binance and Coinbase that aims to provide a generalized Layer 2 platform, enabling Ethereum developers to scale their DApps for large-scale usage. For the initial phase, Matic has launched its hybrid PoS+Plasma sidechain on top of Ethereum. According to the team, Matic is one of the fastest-growing DApp platforms in the space.
    Matic believes the answer to enabling widespread adoption of blockchain technology lies with second-layer solutions focused on scalability. To this end, Matic Network provides massive scaling capabilities whilst leveraging the security and decentralization of the mainchain.
    As a general-purpose platform, Matic is capable of housing a limitless array of DApp types on their infrastructure. So far, Matic has attracted more than 50 DApps to its PoS-secured Ethereum sidechain. DApps on Matic encompass a variety of niches ranging from gaming to DeFi, with notable projects including VR metaverse projects Decentraland, Somnium Space, The Sandbox, and Whitelabel betting platform BetProtocol.
    Essentially, Matic aims to provide the infrastructure to overcome the traditional performance bottlenecks of the blockchain ecosystem, to allow all types of DApps to be able to handle large volumes of users.
    Background and Vision The Matic team has been contributing to the Ethereum ecosystem long before the formation of Matic Network and their IEO on Binance in April 2019. This includes working on implementations of Plasma MVP, the WalletConnect protocol (which allows users to access DApps in a secure and user-friendly way), and the widely-used Dagger event notification engine.
    Matic is passionate about decentralization and better blockchain-based products and is working towards their core goal of facilitating mass adoption of blockchain. They believe that the current decentralized ecosystem lacks usability and convenience - decentralized transactions are slow, expensive, and complex - and therefore the blockchain environment as it stands today is unable to facilitate mainstream-level DApps. Solving this problem is Matic’s mission.
    Matic aims to overcome these hurdles by leveraging a combination of blockchain scaling, developer platform and tools, and a keen focus on user experience. Their Layer 2 solution will enable countless DApps around the world to process TPS rates as high as 65,000 per second, per Matic sidechain. By providing this high-performance infrastructure, Matic aims to revolutionize the way a broad range of applications is created, from decentralized finance to gaming, thus shaping the user experience of end-users around the world.

Roadmap

core

Matic Network Mainnet release (alpha)

core

Allow Deposits and withdrawals of Ethereum-based assets using the Matic Plasma implementation in alpha

protocol

Plasma - Cross-asset swaps between ERC721-ERC20, ERC20-ERC20, ERC721-ERC721) on testnet

core

Proof-of-Stake Validator onboarding

dapps

dApps developer program

core

Matic Wallet - WalletConnect for dApps (Ethereum & Matic Network transactions)

core

Matic Network Mainnet release (beta)

protocol

Plasma - Asset swaps (ERC721-ERC20, ERC20-ERC20, ERC721-ERC721) support on mainnet

protocol

Generic smart contract support (with PoS guarantees)

protocol

Plasma Fast exits implementation on testnet

core

Plasma Watcher nodes

core

Matic Network Mainnet release

protocol

Plasma Fast exit services on mainnet

protocol

Transaction relay pool (perform transactions without ETH) - for enabling easy asset/state movement from Ethereum to Matic

protocol

Generic smart contract support (with Plasma guarantees) - Proof-of-Concept

dapps

Plasma - NFT Marketplace platform release for Ethereum assets

Team

  • Jaynti Kanani

    Jaynti Kanani

    Co-founder & CEO

  • Sandeep Nailwal

    Sandeep Nailwal

    Co-founder & CPO

  • Anurag Arjun

    Anurag Arjun

    Co-founder & CPO

  • Esteban Ordano

    Esteban Ordano

    Founder & CTO at Decentraland

  • Pete Kim

    Pete Kim

    Head of Engineering, Wallet at Coinbase

  • Ari Meilich

    Ari Meilich

    Project Lead at Decentraland