Matic Network: Can it Help Ethereum Scale?


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šŸ“ Overview šŸ“

Matic is developing a solution that they hope will help to scale the Etheruem blockchain. There are also a number of other issues that they are trying to address that other blockchains face.

They are developing a decentralised platform that will use an adapted version of the Plasma framework.

The platform uses Proof-of-Stake checkpoints which are then pushed to Ethereum’s main chain. In the Matic Network consensus is done through a selection of block producers who are chosen by a set of stakers

Given that the transactions take place in the block producer layer, they can be completed that much more quickly.

The team behind the Matic network appears to be quite experienced albeit on the small side. There are, however, some well known advisors with the project that come from other projects and VC firms.

The Matic network completed their crowd sale through an Initial Exchange Offering on the Binance Launchpad. They ran the IEO as a ticket raffle where those with a certain amount of BNB could enter to participate.

The bulk of the trading for MATIC is being done on the Binance exchange. There are high levels of volume here which means that the liquidity for the token is reasonable.

The MATIC token is an ERC20 standard token and it is the fuel behind the Matic network. You can store it in any ERC20 supported wallet although the best bet would probably be a ledger or a trezor.


šŸ“œ Disclaimer šŸ“œ

The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading Forex, cryptocurrencies and CFDs poses considerable risk of loss. The speaker does not guarantee any particular outcome.

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