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.
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