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Author Topic: Matic Network- Scalable and instant blockchain transactions  (Read 13 times)

ANANTHIR

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Matic Network describes itself as is a Layer 2 scaling solution that uses sidechains for off-chain computation while ensuring asset security using the Plasma framework and a decentralized network of Proof-of-Stake (PoS) validators. Matic aims to be the de-facto platform on which developers will deploy and run decentralized applications in a secure and decentralized manner.
Matic Network claims to have worked on implementations of Plasma MVP (Minimum Viable Plasma), WalletConnect protocol, and the Ethereum event notification engine - Dagger. Matic intends to provide Matic wallet, payment APIs and SDKs, products and other solutions that will allow developers to design, implement, and migrate DApps built on platforms like Ethereum. Matic plans to support other blockchains in the future to offer interoperability alongside scalability to existing public blockchains.
Why Matic?
Decentralized Apps are making huge progress but the current blockchain ecosystem is not prepared to scale as per the demand.
The issues of slow block confirmations and high gas fees need to be solved before we target mass adoption by mainstream users. And most importantly, it needs awesome user experience.
We aim to change that by simplifying the interaction between users and the decentralized world. We want to make interacting with the decentralized ecosystem so easy that anyone can do so without worrying about the complexity of the system.
Matic Architecture
Matic Network Token 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.
The system ensures liveliness using PoS checkpoints which are pushed to the Ethereum mainchain. This enables a single Matic sidechain to theoretically achieve 2 16 transactions per block, and possibly millions of transactions on multiple chains in the future.

 

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