Matic (MTX)

Matic Network provides scalable and instant Ethereum transactions using side chains. Matic Network uses an adapted version of plasma philosophy to transfer tokens instantly.

Whitepaper

Onepager

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Interest lvl

Medium

Updated: Jun 14, 2020

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User Rating

Medium

3/5 • 1 votes

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Ticker

MTX

Token standard

ERC20

FoundedIndia

Launchpads

Binance

What is Matic

Our Vision

We are a team passionate about decentralization and better products. The current decentralized eco-system lacks usability and convenience. Decentralized transactions are slow, expensive and complex.

We aim to change this by leveraging a combination of blockchain scaling, developer platform and tools, and a rabid focus on user experience. We aspire to see a world where blockchain gains mainstream adoption, and fulfills it's true promise.

Matic Network strives to solve the scalability and usability issues while not compromising on decentralization and leveraging existing developer community and ecosystem. Matic Network is built on the foundation of PLASMA philosophy as an off/side chain scaling solution for existing platforms and provide scalability and superior user experience to Dapps/user functionalities built on top of these platforms.

We have chosen Ethereum as the first platform to showcase our scalability and we already have a working implementation for Ethereum on Kovan Testnet. We also intend to launch the alpha version of our Mainnet with working Dapps before the ICO. It allows instant transfers, exchange and conversion of digital assets (e.g. crypto tokens) and cryptocurrencies in future (Bitcoin using Swingby protocol ). It’s an adapted implementation of Plasma methodology for Ethereum to start with but our “vision” is to provide off/side chain scaling solution for blockchains in general. Matic strives to achieve high degree of decentralization with trust-less and decentralized execution while ensuring near instant transfers, low fees and conducive economics for micro transactions. Matic’s open source foundation intends to provide Matic wallet, payment APIs SDKs, products, identity solutions and other enabling solutions that will allow developers to design, implement and migrate DAPPs built on base platforms like Ethereum. One of the key pillars of Matic Network’s ideology is user experience which is very poor for Blockchain applications as of now.