Review on Matic Network by francis fernandez
Matic Newtwork: a highly scalable chain for fast and secure transactions
Matic Newtwork is a blockchain that allows the transfer of assets between collateral chains, quickly due to its high scalability in the confirmation of transactions and the optimal use of the infrastructure of its decentralized ecosystem.
Token:
MATIC is the platform token that is used as a payment currency for fees for services on the network and a settlement mechanism between operations carried out between Matic Newtwork users.
This digital asset is an ERC-20 token that operates on the Ethereum chain. It has a total supply of 10,000,000,000 MATIC.
Technology used by the chain:
Matic Newtwork uses the plasma framework that is responsible for safeguarding assets by establishing security levels in a decentralized network of validating servers of the Proof of Stake (POS) consensus mechanism. This translates into a 2-level scaling system that uses parallel chains (Coinbase and Binance) to perform calculations externally on the Ethereum chain. In this way, Matic Newtwork is comforted as a chain of more scalable and faster transactions that contributes to the optimal development of the Ethereum infrastructure by integrating new protocols to its network such as WalletConnect, Dagger and now Minimum Viable Plasma (PMV).
Highlights:
• It is highly scalable due to the Plasma protocol.
• Offers high performance due to its speed of handling large volume of transactions.
• Offers applications for mobile devices on its own network and SDK.
• Network security is handled by the POS consensus mechanism.
• Due to its interoperability, it allows integrating multiple decentralized applications to its chain.
• Provides a useful tool for developers to develop and scale decentralized applications.
• Allows you to settle instant payments.
Pros
- Allows fast, safe and reliable operations.
- Allows you to connect decentralized applications to your platform without affecting its performance.
- Its currency allows to execute payments for network services.
Cons
- Their coin has a low and variable value.
