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What Is Matic Network ?
Matic Network is a decentralized platform that provides secure, scalable and instant Ethereum transactions using a Proof-of-Stake network and Plasma side chains. Matic Network as a Layer 2 scaling solution, aims to provide a decentralized Layer 2 platform for developers to scale their DApps for large-scale usage. The team sees Matic Network as the fastest-growing DApp platforms in the space.
Matic Network believes the fastest way for the blockchain technology to be globally adopted lies with second-layer solutions focused on scalability. This is why Matic Network has provided massive scaling capabilities while taking the full advantage of the security and decentralization of the mainchain.
However, Matic has attracted many DApps to its PoS-secured Ethereum sidechain from a variety of niches such as gaming, DeFi etc. Notable projects such as VR metaverse, Somnium Space, decentraland, the Sandbox and BetProtocol were executed in the Matic platform.
Key Features of is Matic Network
- Matic Network is scalability, low-cost and fast.
- Matic Network has a high throughput, achieving up to 10,000 TPS on a single sidechain.
- You get the best of user experience when using Matic platform.
- Matic is highly secure and uses PoS as its consensus mechanism.
- Matic sidechains are decentralized, permissionless and capable of supporting multiple protocols.
Team of Matic Network (MATIC)
The team is made up of highly experienced blockchain experts and administrators that are so dedicated and passionate about Matic Network.
The team is led by Jaynti Kanani -co-founder & CEO. Kanani is a blockchain engineer and full=stack developer. He previously worked at Housing.com as a data scientist. He was also a contributor to Web3, WalletConnect and Plasma,
Other members of the team include:
Sandeep Nailwal: Co-founder & COO. He is a blockchain programmer and an entrepreneur. He was previously the CEO of Scope-weaver and the CTO of Welspun Group.
Anurag Arjun: Co-founder & CPO
Denis Ermolin: he is the Senior Blockchain Engineer
Dalpat Prajapati: he is the Head of Design
Sayli Patil: she is the Blockchain Engineer
Shreyansh Singh: he is the Marketing & Operations Lead
And others, visit the official website for more information
Use Cases of Matic Network (MATIC)
- Matic Network (MATIC) is used as a payment system to settle payments on-chain whenever needed.
- Matic Network (MATIC) is used in major decentralized exchanges.
- Matic Network (MATIC) is used in gaming networks.
Mining of Matic Network (MATIC)
Matic Network (MATIC) uses Proof-o-Stake consensus mechanism to mine. Token holders or validators stake their Matic tokens as collateral to become an integral part of the network’s PoS consensus mechanism. The validators are rewarded with Matic tokens in return.
A validator who decides not to stake can delegate that slot to Matic token holder (who is not a validator) to stake and pay commission to the validator.
MATIC holders who may like to stake but do not want to be a validator can delegate their tokens to any validator of his/her choice and still earn staking rewards.
MATIC is available at the major crypto exchanges such as Binance, VCC Exchange, FTX, HitBTC, and Bitcoin.com Exchange.
Notes for Investors
Matic Network (MATIC) is performing well in the crypto market, going by its technology and acceptance since its launch in 2019.
Presently, the unit price of Matic Network (MATIC) is $0.015390 USD, the market capitalization is $73,013,375 USD, the circulating supply is 4,744,192,768 MATIC and is currently ranked 113th in the cryptocurrency market.
This publication is not intended to endorse Matic Network (MATIC) for investment but to get public well informed about Matic Network (MATIC) .The cryptocurrency market is unstable and unpredictable; any one intending to invest should seek advice before investing.