Review on Matic Network by David Olayide
MATIC NETWORK: A SOLUTION TO PROBLEMS OF SCALABILITY
Matic Network is a scalability based blockchain platform that has a main aim of stimulating the mass adoption and use of cryptocurrency projects by solving the big problem of scalability which affects a lot of blockchains today. To achieve this goal, Matic Network makes use of the Plasma Framework and also the proof of stake blockchain models. This ensures that there will be easy execution of scalable and autonomous contracts. Matic network was launched in 2017.
I can confirm that the network operates at a very high speed. Looking at the block confirmation time which is less than two seconds, and the amazing number of transactions per second there is no doubt that speed is one of the best features of this project. The network is capable of about 65,000 transactions per second on a sidechain. Because of the nature of Matic network, globally available Dapps can also be built on a single blockchain without facing negative setbacks. So far, there are already about 50 different dapps on its Eth sidechain.
When I visited their site I saw that the company was rebranding to Polygon. There is a total supply of 10,000,000,000 MATIC tokens. It is expected that this figure will have diminished by 2022. I have noticed that MATIC has contributed a lot to the Ethereum ecosystem in general because they're actually affiliated. So that makes it easier for traders and investors to have access to the tokens. I found the MATIC tokens on big exchanges like Binance, Huobi Global, Coinbase Pro, and Hotbit, among many other popular exchanges too.
I appreciate the fact that Matic Nework is also backed by credible sources in the crypto world such as Binance and Coinbase. The project is a really nice one that brings a good solution to the problem of scalability. So we can say goodbye to slow block confirmation time, and low numbers in terms of volume of transactions per second.
Pros
- Very high scalability features
- Can perform up to 65,000 transactions per second as they claim
- The interface is versatile and friendly
- Secured with the Proof- Of-Stake system
- The project is designed to be interoperable
Cons
- I have not detected faults with the project yet
New products
Comments (1)
August 17, 2021
Good review, it has been very useful in a special work that I am putting together regarding this network, I have gathered good information, and review good ratings here in Revain has undoubtedly contributed a lot to my research work.
