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The Matic Network mainnet is now live!

The Matic Network mainnet is now live!

All Cryptocurrencies

by COINS NEWS 24 Views

Matic Network brings massive scale to Ethereum using an adapted version of Plasma with PoS based side chains.

Decentralized Apps are making huge progress but the current blockchain ecosystem is not prepared to scale as per the demand.

The issues of slow block confirmations and high gas fees need to be solved before we target mass adoption by mainstream users.

Matic Network solves the problems by building a decentralized platform using an adapted version of Plasma framework that provides a solution for faster and extremely low-cost transactions with finality on the main chain.

The system ensures liveliness using PoS checkpoints which are pushed to the Ethereum mainchain. This enables a single Matic sidechain to theoretically achieve 216 transactions per block, and possibly millions of transactions on multiple chains in the future.

Step 1 of the mainnet rollout, starting the network with an initial set of validators is now complete. The mainnet has already produced 43K+ blocks.

Upcoming developments will expand the horizons of Matic multifold on the front of its offerings and its potential to enable a large part of this age of decentralization

submitted by /u/anmolgaur45
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