Matic Network announces the start of its mainnet

The blockchain network focused on the Layer 2 solution with Plasma over Ethereum to scale transactions in the main legacy coin of the crypto market. Matic Network announced the order of launch of its mainnet for May 15th, according to a tweet on his official account.

The platform, which started operating in 2017 and is based in India, has achieved significant development and activity in its network in recent months that has made this possible a significant number of partnerships with leading players in the blockchain ecosystem from decentralized funding to games.

With its lateral solution for Ethereum, Matic Network enabled the creation of a high-performance blockchain with low-cost transactions. At the same time, a high level of security is guaranteed. These are key factors that have enabled the migration of many applications that run natively on Ethereum or even other networks like the Loom network to host their performance on the Matic network.

Matic Network announces the start of its mainnet
Matic Network announces the start of its mainnet

The Blockchain Matic platform is a layer 2 scaling solution that enables transaction times to be accelerated by using sidechains for off-chain calculations, while ensuring security with the plasma framework and a decentralized network of validators. Use the consensus algorithm for the PoS participation test.

Success in resolving congestion on the Ethereum network and some dApps suffering from congestion of their tokens with the ERC-20 standard has enabled some blockchain platforms like FLETA, their open source decentralization and acceleration technology of their gateways. of native payments on your token using the standard mentioned above, by implementing side channels for communication between Matic and Ethereum that enable interoperability with other chains.

According to Matic’s official announcement, they are pursuing the following goals after starting their main network Developers have access to the high-performance blockchain that scales up to 65,000 TPS according to the tests provided by the company.

They also expect their mainnet to run the Matic Network chains without interruption and that there will be several validators on site to run and maintain the network to ensure its decentralization.

Therefore, The network will operate within a three-step implementation strategy. This is correlated to ensure that the problems associated with each of them are addressed and successfully resolved.

It is worth noting that Only in the last phase, when the decentralized network is open to the full delegation, Afterwards, in the previous phases, the nodes executed by the partners selected by Matic are responsible for testing the complete functions of the network.

It is expected that with the implementation of the Matic Transactions are executed on average in a range between 1,000 and 4,000 TPS You can also safely move assets from Ethereum to Matic and vice versa, including the ERC-20 and ERC-721 banners.

As an additional point, Matic announces that its stakeout system called Counter Stake will run in parallel in the phases that are used to deploy its mainnet The native Matic ERC-20 token will continue to be hosted on Ethereum after its mainnet is launched.

Matic Network ensures that developers who implement their dApp in their main network can have it lower transaction costs for Ethereum gas fees up to a ratio of 1/100, This is of great importance given the fact that ETH’s gas price costs have risen significantly in the past few days during the price increase by up to 3 times above average, according to Etherscan.

Ethereum conducts around 850,000 transactions a day and The greater the demand for your network, the higher the costs for transactions in this network. This generally leads to overloading and blocking of your running applications.

Binance US extends its coin offering with Matic Token

According to the official blog of the largest volume cryptocurrency exchange, Binance, in its American version for the United States, The Matic token is listed in its range of cryptocurrency pairs for users residing in the North American countryas soon as Matic’s main network is broadcast.

The CZ company notes that once Matic’s mainnet is available, Binance.US will issue a statement about opening deposits and trading the token running on Ethereum.

The news was well received by the blockchain ecosystem community, and especially by the matic token holders who saw it Increase the price from the previous halving of Bitcoin by more than 41%, How this influential crypto user demonstrated on the social network Twitter.

At the end of this post, the token’s price is around USD 0.0200, with a positive variation of + 4.74% and an increase in its daily volume, which has enabled it to climb positions within the general cryptocurrency ranking are in 77th place among the important top 100 in the marketaccording to CoinMarketCap.

It’s worth noting that Matic’s price rose 11 percent this week before the launch from the main network, as the cryptocurrency rose to the $ 0.020 level. If the token manages to overcome the strong resistance of USD 0.0205, may give holders hope to think about $ 0.028 March highs.

Bullish or not, the price increase of the Matic token is already being analyzed by cryptocurrency traders who compare its performance to Digibyte’s + 350% profit, like this well-known trader in his official Twitter account:

Similar Posts