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WHAT IS MATIC NETWORK? THE ULTIMATE BEGINNER’S GUIDE 2021

WHAT IS MATIC NETWORK? THE ULTIMATE BEGINNER’S GUIDE 2021

Blockchainappsdeveloper is a leading Matic blockchain development company particularized in smart contract development. We provide complete support to Scalable and instant blockchain transactions through our advanced Matic network solutions. 

As a leading Blockchain Development Company, we utilize and employ our technical capabilities, product mindset, and high-level experience to help our customers implement blockchain technology in their business proposals or operations. We have developed and delivered Enterprise blockchain solutions that have introduced a high level of transparency, efficiency, and automation into our customers’ valauble business processes.

What is a Matic network?

Matic Network is a scalable blockchain platform for creating decentralized applications. Matic network is known as the layer 2 scaling solution that attains the scale by utilizing sidechains for off-chain computation while assuring asset security using the Plasma framework and decentralized network of Proof-of-Stake validators. Matic network gives secure, scalable, and instant Ethereum transactions using Plasma side chains and Proof-of-Stake network. 

Matic network aims to solve the scalability & usability issues without compromising on decentralization and improving the existing developer community and ecosystem.
It is an off/side chain scaling solution for existing platforms to provide scalability and user experience to DApps/user functionalities. 

Why Matic Network Solutions?

->> Decentralized applications are making tremendous progress, but the current blockchain ecosystem is not ready to scale as needed. Matic created to solve the standard set of blockchain problems (Slow transactions, lack of scalability & high fees). And creating a scalable blockchain platform by using a Plasma framework.

->> Sidechains provide faster and cheaper transactions. Thus, scalability is achieved by using public sidechains for off-chain computation. 

->> Slow volume stabilization and higher gas fees must be solved before target the mass adoption by major users. Most importantly, this requires an amazing user experience. 

->> Matic network aims to change that by facilitating communication between users and the decentralized world. It is very easy to interact with a decentralized ecosystem and anyone can do so without worrying about the complexity of the system. 

Features & Highlights of Matic Blockchain Development:

Scalability: Matic network provides secure, scalable, and fast, low-cost Ethereum transactions using decentralized Plasma side chains. 

High Throughput: A sidechain tree architecture can measure millions of transactions. Up to 65k transactions/sec on a single Matic chain. For horizontal scaling, multiple chains can be added. 

One-Stop Defi Platform: Many protocols that run comprehensive decentralized financial applications can be hosted on Matic sidechains.

Asset Interoperability: Assets on different sidechains across various blockchains will be operated by the Matic Network in the future. 

Security: Matic chain operators are themselves stakers in the Proof-of-stake system in the Matic network.

User Experience: Intuitive User Experience(UX) and developer abstraction from mainchain to Matic chain.

Public Sidechains: Matic sidechains are generic. It is permissionless, capable of supporting multiple protocols.

 
Problems Associated with the current blockchain platforms

Decentralized applications are making tremendous progress, but the current blockchain ecosystem is not ready to scale as per the demand. Below are some of the problems associated with the current blockchain platforms.

->> Slow transactions
->> High transaction fees
->> Low transaction throughput
->> Scalability
->> Poor usability
->> Multiple micropayment channels

Slow Transactions: Blockchain transactions are very slow and sometimes it takes more time for transactions. Most of the blockchain protocols have a limit for the block size, and it takes some amount of time to create a block. Each and every transaction waits for the multiple block confirmations due to potential chain re-organizations. These limitations are often required for a public blockchain, as a block must be verified.

High Transaction Fees: The blockchain market is growing day by day and also the transition fees in the blockchain are high.


Scalability: Each block must be verified by multiple nodes or compute smart contract-based blockchain. Each node must manage all blocks. The chain size is getting increased day by day, maintaining and validating the whole blockchain is a more difficult process. This is a high risk of decentralization. 

Blockchainappsdeveloper is a well-known Matic Blockchain Development Company, having years of experience in delivering Decentralised Applications on the Matic Network blockchain platform. With blockchain industry-proven experience, we have become experts in providing high-level Enterprise blockchain solutions and services. Following major qualities of the best Matic Blockchain Development company.

  • Certified Blockchain Development Company

  • Cutting Edge Chainlink Blockchain development Solution

  • The highly talented technical team of professionals

  • Understand our valuable Customers expectations and Requirements

  • 24/7 Support Services

  • Technical Knowledge on Enterprise Blockchain Solutions and Chainlink Development Platform

  • Guaranteed Profit based Business services and solutions

  • On-time delivery of project

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