Matic Network (MATIC) Review

An independent review of Matic Network (MATIC)

A Scalable Solution Modified from Plasma Framework

Summary

Matic Network is a Layer 2 scaling solution that seeks to solve scalability issues while  maintaining  the  network’s  true  decentralised  nature.  The  underlying framework is an adaption of the Plasma technology, and Matic seeks to address several limitations of Plasma. Their value proposition also includes providing better user experiences through smooth UX and a suite of support tools.

Company Overview

Incorporated in 2017, with its core team in India, Matic Network has the vision to provide   off/side   chain   scaling   solutions   without   compromising   on decentralisation. Adapted from the Plasma technology, Ethereum will be the first platform that Matic will implement its scalability integrations on.

Commercial & Technical Strategy

Matic Network utilises a two-prong approach to achieve high transaction speeds and decentralisation; 1) PoS (Proof of Stake) at the checkpoint level, 2) Block Producers at the block producing level. The team will deploy an enhanced version  of  the  Plasma  structure  that  will  allow  seamless,  low-cost  and  fast transactions on the mainchain. Aside from Matic protocol, the team will also provide support by developing tools to help the ecosystem. The product is currently in testnet with the Alpha version of the mainnet launching soon.

Several core components of the product include:

•Checkpoints using PoS mechanism to provide finality on the mainchain

•Blocks are generated at ~1s intervals at negligible transaction fees

•65k tps in a single sidechain

•Multi Chain support via horizontal scaling with side chains

•Interoperability across different blockchains, providing support for large DEX

•Support tools include:

o Wallet – utilising WalletConnect Protocol, users can manage accounts easily with user-friendly interfaces

o Dagger – real-time updates and notifications from Ethereum blockchain

o Browser extensions

Roadmap

Matic  Network  has  tracked  their  roadmap  very  closely,  delivering  all  their milestones on time with some earlier than stipulated. Although most deliverables are on the technical front, they have also been active on the business front working closely with their partners and attending community meet-ups, summits and hackathons.

There’s more to this report…