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Published by: 14:14, 01 June 2019

Matic Network. Project Overview from Binance

Matic Network is developing a platform of scalable, instantaneous and protected transactions for blockchas. Matic task - create a scalable solution of Layer 2, providing bandwidth capable of satisfying transaction requirements for mass implementing Dapps. Matic is unique both from the point of view of the technical approach to Layer 2 and in terms of its potential support for various use options.

Matic Network


  • Matic Layer 2 is a MOREVP based version based on account. Platform Plasma is used to ensure the safety of assets in the main chain (such as ERC-20 and ERC-721 tokens for ETHEREUM), and the total transactions are protected by the PROOF-OF-STAKE network built on top of Tendermint. Matrix side chains are essentially chains with EVM support and contribute to rapid deployment of intelligent solidity contracts, in fact, allowing Ethereum developers to easily use them to scalize their DAPPS / PROTOCOLS.
  • From a commercial point of view, the Matic side chains are structurally effective to support many decentralized financing protocols (DEFI) available in Ethereum ecosystem.
  • Matic's main philosophy - enable Dapps applications to compete with the user interface offered by centralized applications today.
  • Ethereum - Matic Network's first support for the base chain, but Matic intends to offer support for additional basic chains based on proposals and consent of the community to ensure a compatible decentralized level of level 2 blockchain.

Review - Project Matic Network

  • Matic Network is a scalable level 2 solution that reaches scaling through the use of side chains for computing out of the chain, while ensuring the safety of assets using the Plasma infrastructure and a decentralized PROF-OF-STAKE Validators (POS).
  • Matic Network has made a significant contribution to Ethereum ecosystem, working on the implementation of Plasma MVP (Minimum Viable Plasma), the WalletConnect protocol and the popular Enthereum event alert mechanism - Dagger.
  • Many projects already create applications and integration with Matic.
  • Matic launched its first test network in September and has an extended preliminary version of the network ready for internal use.
  • Matic will soon start an extremely user-friendly PLASMA wallet with WalletConnect support for reliable interaction with DAPPS and services on different devices.

Main characteristics and features

  • Scalability: Fast, inexpensive and safe transactions on the Matic side chains with the final reached on the main chain and Ethereum as the first compatible base chain of level 1
  • High throughput: It is reached up to 7000 TPS on one side chain in an internal test network; Several chains will be added to horizontal scaling
  • User experience: Smooth UX and developer abstraction from the main chain to the Matic chain; Native Mobile Apps and SDK with WalletConnect Support
  • Safety: Matic Chain operators themselves are participants in the POS system
  • Public side chains : Matic side chains are public by their nature (compared to individual DAPP chains), do not have access and are able to support multiple protocols.
Matic
Matic

Matic Token Ecosystem

  • Matic Marker is used for rates to participate in the consensus mechanism proof of stake side chains network.
  • Matic Marker is also used to pay remuneration for mining POS participants and any transactions / gas fees.
  • Each time a transaction occurs, a small percentage of transaction commission will be stored and reserved in the protocol to support the construction of the Matic Ecosystem Improvement projects and shall be paid using a chain management.

Tocken Management and Use

As of February 26, 2019, Matic Network used approximately 7% of TGE tools in accordance with the appropriations listed below:

  • 1% partnership
  • 9% Marketing
  • 15% legitimate
  • 75% technical development

Treasury and strategy

In accordance with its risk management strategy, Matic plans to constantly have sufficient reserves by order to finance their operating expenses for at least 12 months. The remaining funds stored in cryptography will be stored in cold wallets with multisignas support.

Schedule of release of Tocken Matic

The following graph shows the number and breakdown of all Matic tokens, which are intended for a monthly issue into circulation.

Matic

Tocken Review and Use Options

Tocken Matic has three key options:

  • Participation in consensus Proof of Stake: Matic side chains provide consensus using Proof of Stake (POS) level in which network members put Matic tokens to participate as validators.
  • Payment of commissions for transactions on the network: Commissions for transactions in the side chains Matic are paid by the Matic tokens. The more users use applications in Matic Network, the greater the transaction volume and, therefore, the transaction fee.
  • Having inspired from Livepeer and its models "protocol financing of the ecosystem", Matic intends to create a separate stake mechanism to support ecosystem projects. This will help create a fund from "block awards", which can help developers working on features and applications needed to get part of block awards. This mechanism is funded by reserving the percentage of transaction fees in the protocol to support the creation of projects for improving Matic Ecosystem.
Project Matic Network

By the 1st quarter of 2019, some of the projects built on top of Matic included:

  • Implementing the Burner wallet (without friction that allows you to quickly move tokens through the web browser interface and display it in the cold storage after completion) for connecting users to Dapps with disposable wallets
  • Upcoming game platform
  • NFT Asset Market
  • VR game
  • Exchange advertisement
  • Others still in development
road map

Commercial partnership and business development

Matic has already been cooperating with several blocks projects, including the following:

Decentraland: Decentraland - Virtual Reality Platform, Blockchain Ethereum. Users can create, test and monetize content and applications using a developer tool kit that runs on any platform (all virtual reality headsets and web browsers) and is designed to create virtual environments and applications. Matic collaborates with Decentraland to scaling transactions that will occur as a result of user interaction in the virtual universe. It will include payments, sales NFT and, ultimately, general gaming states and other data.

Quarkchain: Quarkchain is an innovative blockchain architecture without access rights, the purpose of which is to provide a safe, decentralized and scalable solution of the blockchain. Matic Network and Quarkchain intend to cooperate in the field of L2 scaling research, exploring and developing solutions for plasma side chain over QUARKCHAIN. Matic will also work with Quarkchain to create notifications, such as Dagger and Mobile Wallet, for Quarkchain.

Ankr: ANKR network is a distributed computing platform, the purpose of which is to use free computing resources in data processing centers and peripheral devices. Matic will cooperate with ANKR to study the construction of a WEB 3 decentralized stack, in which ANKR can provide distributed cloud computing services for decentralized application development on the Matic network.

Portis: Portis is a technological company that wants anyone in the world to use decentralized applications as easily as they use "ordinary" applications. Matic works with Portis to help these DAPP applications using Portis, reach and expand user capabilities.

Maker Dao: Maker - an organization standing for a stable coin DAI. Matic Network collaborates with MakerDao for learning and joint support for DAPPS developer groups that use DAI on the side chains Matic Network. Matic Network intends to integrate DAI as the first ERC-20 token on the side chains Matic.

RIPIO Credit Network: RIPIO Credit Network is a one-alone credit network that combines lenders and borrowers located anywhere in the world. Matic works with Ripio to provide microcredit on its plasma side chains. Matic Together with RCN also explores faster plasma outputs where the output NFT will be used as security for loans on the RCN platform.

Team review

Total in the team Matic 12 employees, 3 technical co-founders, 6 additional developers, two marketing specialists and product manager.

team

Technical Overview

Matic has a total of 13 public and 17 private repos.

At this stage, the development of Matic has publicly published only part of its code. Repo contracts contains basic business - Matic Network logic. Nevertheless, metrics and reviews of private repositories are the most informative in the study of the project and the Matic ecosystem.

Githab
Githab
Githab

Product and Metric

One of the Matic, Dagger ecosystem products, is the zapier integration, which allows any collector to collect real-time Etheriam updates to connect to its tables, applications or other products. Today, more than 400 applications and trackers have been created using this startup tool.

Matic

To ensure a smooth transition of assets in side chains and simple asset management for users, Matic will release your own wallet with WalletConnect integration.

Expected Dau

Several applications for applications are actively developed on Matic to ensure the best user interaction and reduce operating costs:

Decentraland

  • Full data
  • DAU confirmed: 79
  • Current Daily Transactions: 402
  • The expected DAU with a Matic Marketplace with a low transmission fee and the best games for users should be much higher. May be 100 times higher than this indicator, since it is expected to compete with users of centralized games and applications.

Cryptostaw - Venmo using DAI

Cryptostaw

Pocket Full of Quarters - a game that collected funds on republic.co
Chainbreakers - game built on the Universe Decentraland

Below is a block diagram to understand the mechanism of abstraction of fees, which will be implemented on the side chains of Matic.

Matic
Source: Matic Network Management Team

Dapps will use their own DAPP tokens in the Matic chain for transactions in applications, as well as use them to pay for network fees for the support of consensus in Matic.

As shown on the block diagram above, DAPP applications running in Matic chains will help support the Matic Tokens reserve with liquidity providers, which will allow them to freely carry out operations without worrying about keeping Matic Tokens in their own wallets.

Blockchain and network data

Matic Network has validators who put their assets for the right to participate in the POS consensus mechanism on the side chains.

Transaction fees will be determined by users on the network in the same way as in Ethereum, but, given the possible high bandwidth of transactions, it is expected that transaction fees will be significantly lower than the fees for Ethereum due to demand and supply of gas fees.

Matic Network

Blue rectangles on the diagram above are the side chain, and human icons show a layer of breakdown. Under this layer of breakdowns, you can add several side chains, and under the layer of breakdowns to attach more lateral chains of blue.

Matic Network

Community strategy

The main task of the Matic community was to attract an increasing number of DAPP developers to create a network. Thus, Matic wants to create a community of developers and engage in the enormous potential of developers who have yet to be immersed in cryptography. To achieve this, Matic collaborates with leading universities in India and the rest of the world to ensure that novice developers know and use Matic as a platform for scaling their applications.

The main geographical directions of Matic are described in detail below:

  • India - India - Matic sponsored, instructed and evaluated several Khakatonov in India, such as Ethindia, and also organized a DAPP training course in the leading engineering Institute of India IIT Bombay, which introduced 80 developers to create and support decentralized applications. The team continues to provide support and guide for some projects of this group. Matic also acted in front of students in blocks-events in institutions such as IT Mumbai, Iit Roorkee and Nit Srat. The Matic team was also a sponsor and part of the Judicial Board in Ethindia, which was held in Bangalore and Ethsingapore
  • USA and China. Considering that these regions are centers for developing blockchas, they are strategically important for Matic, since a significant percentage of current blockchain developers is based on these territories. Matic plans to create communication centers with developers from SF and Hong Kong, as well as jobs for stimulating innovation and development on the Matic platform.
  • Japan - Matic is closely related to the Plasma Researchers Community in Japan, and also works on raising the awareness of the local community. Matic intends to create a significant database of developers in Japan, specially related to corporate use options.
  • Germany - Chainbreakers - German team developing RPG game on Decentraland. They announced that Matic Network will use for scalability needs . Matic plans to hire a blockchain developer in Berlin's living community, and also studies the possibility of creating a development center in Berlin.
  • Great Britain - Matic collaborates with a decentralized Exchange from the UK to help them explore the possibility of transition to the side chains of Matic to increase the speed of processing trade operations and increase popularity among users.
  • Korea - Matica gave an interview with Koreacryptosocial during a blockchain event in Seoul, but after the sale of Launchpad team will add additional resources dedicated to the Korean market.
  • Vietnam - Matic has created a local telegram group to attract the Vietnam Community, organize developer meetings and establish links with universities.
  • Thailand - Matic has a community group from Thailand and plans to identify universities and development points with which you can cooperate to stimulate the development of the blockchain.

Community Meetups

Ethindia Mumbai Meetup:

  • Before Ethindia Bangalore Hackathon Matic organized a group discussion with the leading leaders of the blockchainnas industry in India, after which a practical workshop was held for Ethereum developers and blockchain enthusiasts.
  • The team received more than 180 registrations and more than 70 developers.

Matic & ANKR NETWORK MUMBAI MEETUP:

  • Matic Network was presented with Ankr Network in Mumbai on September 1, 2018. During the meeting, the Matic team introduced a demo version of the Matnet Testnet wallet with instantaneous and inexpensive transactions with a convenient user interface.
  • The team received more than 50 registrations and more than 20 participants.

Matic Network Social Channels

  • Twitter | 1.507 Members
  • Medium | 245 Followers
  • Official Announcement Channel | 2.016 Followers
  • Telegram - Matic Network Official Community | 7,868 Members

Comparison of scalable solutions for their performance for Building Dapps

Competitors
Competitors

Additional competitors

  • Skale Labs : Skale plans to run a network of side chains called s-chains. These chains are managed by Validators nodes that contain several containers. S-chains are used asynchronous consensus Skale Parallel (SPAC), unlike the POS consensus used by Matic Sidecains. Like the Matic Network, Skale plans to launch your own version of EVM on its side chains; However, the goal of Skale is to enable separate DappChain chains, while Matic is designed to create "public side chains" that may contain any amount of Dapps.
  • PLASMA GROUP : Plasma Group wants to create an Open Plasma implementation, which will help people deploy their own instance of a separate chain Plasma. Matic Network, on the other hand, is aimed at creating a free publicly available side chain system based on a 2-level plasma, where everyone can enjoy the simple deployment of applications and smart contracts.

Matic Network Differentiation Points

  • Block time ~ 1 second - inclusion of use scenarios in the physical world.
  • Plasma protection of assets
  • Public networks capable of supporting several protocols, which ensures interaction and full-scale Defi solutions.
  • POS-based control points provide endurance and fraud on the main chain
  • Applications based on Ethereum can be easily integrated, and all ETHEREUM ecosystem tools are supported directly from the box

The article is translated by the CRYPTOCOINEXPERT command.Info for category Projects.

Original article here - https: // info.Binance.COM / EN / RESEARCH / MATIC-2019-04-01/

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