MATIC NETWORK - PUTTING ETHERUM SCALABILITY ISSUES TO REST THROUGH AN ADVANCED PLASMA FRAMEWORK
Decentralized application are applications that runs on a distributed computing system.
New and exciting DeFi projects are launched all the time, and it can be difficult to keep up with
them all.
More specifically, understanding project fundamentals, the services they can offer to users, announcements of partnerships and integrations can all seem abstract. Matic Network, on the other hand attempts to solve the incomprehensible nature of the decentralized world making it easy to communicate in the decentralized system.
The primary aim of the Matic Network is to improve the performance and accelerate the scale of Etherum.
So, what is Matic Network?
Matic Network is a scaling solution for the Ethereum Network. With its robust architecture, it proffers a fast and efficient way to process ERC-20 based tokens, that can be interoperable with other dApps.
Matic utilizes a version of plasma framework that is not only fast but also cost effective to make it easy for developers to build decentralized applications.
Matic Network uses an innovative hybrid approach to assist Ethereum in achieving scalability, specifically, it does this through providing a speedy, reliable, and efficient solution to the current slow transaction times and costly gas fees.
FEATURES OF THE MATIC NETWORK
● SCALABILITY
As a decentralized off-chain scaling solution, scalability can be achieved through Matic
Network without compromising the user experience. Scalability is realized by using a decentralized Plasma operator mechanism with finality achieved on a main chain.
● HIGH THROUGHPUT
Matic Network ensures the throughput of millions of transactions, with its sidechain tree structures. In fact, a single Matic Network chain can process up to 65,000 transactions per second.
● USER EXPERIENCE
The overall user experience is proving faster and more efficient with the integration of Matic onto dApps. Matic Network provides SDKs and APIs for developers, in addition to connect wallet support, to make it easier for its users.
● IMPROVED CONSENSUS MECHANISM
Matic Network uses the Proof of Stake consensus algorithm and with the Matic chain
operators, who are holding staker and delegator positions in the network provide further increased security to what is already one of the most secure blockchains.
● ASSET INTEROPERABILITY
Matic is currently working on interoperability for digital assets between different sidechains and blockchains. It plans to make interoperable asset on different side chains across various blockchains.
● ONE-STOP DEFI PLATFORM
The Matic Network’s side chains are designed to proffer decentralized financial service, providing an extensive range of DeFi applications that can be hosted on Matic side chains for various use cases.
Adding to all these, the platform also allows developers to easily and quickly deploy Ethereum smart contracts on Matic sidechains.
Of course, there are several projects currently working towards the shared goal of expediting the scaling of the Ethereum network, seeing as network congestion has been a top priority for years for the Ethereum ecosystem, but Matic network tops the chart as it provides an array of innovative scaling solutions to utilize the full potential of DeFi and assist in interoperability between blockchains and dApps.
CONCLUSION
Matic Network boasts an impressive range of integrations and has shown
tremendous developments in its launch. With a relatively low market cap, the project has plenty of room to grow and is proving to be a compelling solution for scaling and interoperability.
Website matic.network
Writter Slimvicky
Telegram Username vickystar01