Rather than updating the underlying blockchain network layer, Matic Network (MATIC) aims at a second layer scaling. One of the main goals of Matic Network is to reduce the complexity between interacting transactions on the network. Matic Network (MATIC), in its debut, one of the goals of the project is to facilitate interaction between decentralized finance applications and ecosystems. Matic Network was designed as a decentralized platform for this process in a customized version of the Plasma framework. Information about ” What is Matic Network (MATIC) and what are its advantages?” is in rest of the article.
What is Matic Network (MATIC) and what are its advantages?
Plasma is a solution that enables significant scaling to the Ethereum network. With this solution, it enables decentralized financial applications to be built on a global scale on the basic blockchain. In addition to this framework, Matic Network has added side chains and Proof of Stake (PoS) validators to increase security. You can browse here for information about Basic Attention Token (BAT).
Although decentralized applications have made great progress, blockchain systems currently in use are not suitable for scaling adequately to the demands of current users. At this point, Matic Network (MATIC) aims to prevent slow approvals and high transaction fees.
It aims to establish a decentralized platform on the Plasma framework that has a certainty on the main chain, faster and lower cost. It aims to accelerate by using Proof of Stake checkpoints in the Ethereum network. This operation enables 65536 transactions to be made on a single Matic Network chain. With the new chains to be established in the future, millions of transactions will be made faster.
How is Matic Network (MATIC) mining done?
Matic Network (MATIC) is a non-mining cryptocurrency. All Matic Network (MATIC) quantity is produced by the foundation. Matic Network (MATIC) will be produced in total 10.000.000.000 MATIC pieces.
For other crypto currency: https://en.wikipedia.org/wiki/List_of_cryptocurrencies