What is Matic Network (MATIC)? Complete set of MATIC cryptocurrencies

x17 times the IEO price and continuously make new highs. Matic Network (MATIC) is one of the projects with the highest ROI among those on Binance Launchpad.

In today's article, we will learn about what the highlights of Matic Network are and detailed information about MATIC Token's tokenomics. From there, there is an overview of whether to invest in the project or not. Let's find out together!

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What is Matic Network?

Matic Network is a Side Chain-based scaling solution for Public Blockchains. Based on Plasma technology, Matic Network provides scalability for side chains while ensuring the user experience, as well as the security and decentralization of Blockchain.

For those of you who don't know, Matic Network is the forerunner of Polygon Currently.

What problem does Matic Network solve?

The problem Matic Network poses

Matic Network will focus on solving problems that current Blockchain platforms are facing, which are:

Slow transaction speed.

Low throughput.

Limited scalability.

The size of the Blockchain is limited.

There are too many payment channels on many different off-chain solutions, lacking in consistency.

High transaction fees and low usefulness.

With the above problems, Matic Network believes that it will affect the user experience and make it difficult for Blockchain to come into widespread use.

Matic's solution

The solution of the Matic dev team is to build a decentralized platform. The platform is built on Plasma technology which helps to create faster trading solutions and lower transaction costs.

What is Matic Network (MATIC)? Complete set of MATIC cryptocurrencies — Matic . Public Plasma Checkpoint Nodes Solution

Matic Network's consensus mechanism has 2 main layers:

Proof of Stake (PoS) in Checkpoints layer and Block Producers in Block Producers layers to achieve faster blocktime.

Based on the above 2 layers, Mainchain still achieves decentralization through the underlying Checkpoints and Block Producers.

Highlights of Matic Network

In this section, I will talk more about the outstanding components and features in the Matic Network ecosystem.

Components inside Matic Network:

End user.

dApps Developers: These are people who use Matic Network (MATIC) solution to extend their dApps for better user UI/UX experience.

Stakers: People staking their MATIC Token to get an important role inside the network. They help process transactions, suggest checkpoints and select Block Producers.

Block Producers: These people help speed up Blocktimes. They also have to stake MATIC tokens to get this position.

Features of Matic Network:

Pay: Matic Network provides user interfaces, payment APIs, SDKs for dApps. Helping merchants and users to trade and pay for Crypto assets quickly. Those assets can be ERC20, ERC721 tokens, ETH, ..

Instant Swaps: Matic also allows users to instantly swap, send and receive any Crypto assets on cross-chain.

Provide liquidity: By using Pool Liquidity of 0x (or similar solutions) Matic Network may provide liquidity to 3rd party participating in the network. In the future, Matic will coordinate with Fiat Pools to provide Crypto-Fiat liquidity feature.

Support DEX exchange: Matic Network can provide a solution for DEXs to make transactions faster and cheaper.

Supported platforms: Matic Network will help merchants assess the creditworthiness of their customers first. Dharma protocol is the protocol Matic will use to provide a tokenized solution.

Authentication Features: Matic Network also provides an Open-Identity system for more secure transactions.

Game Network: Matic Network devotes a large part to supporting Game dApps. Especially the dev team emphasizes on supporting Games with NFT Tokens.

Toolkit for Developers: Make it easy for dApps to access Matic Network's solution. The dev team has provided toolkits, SDKs, APIs to help developers easily develop and integrate into their applications.

Information about Matic Network Token (MATIC)

MATIC rate today

Currently, you can see the MATIC token price on Coin98 Markets right at:

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Coin98 Markets is a page that helps you to update real-time prices as well as view detailed information about Token Metric of a project. In more detail, you can access the homepage and community page of the projects or filter the coins/tokens by Marketcap, Transaction volume, etc.

Key Metrics MATIC

Token Name: Polygon.

Ticker: MATIC.

Blockchain: Ethereum.

Token Standard: ERC210.

Contract: 0x7d1afa7b718fb893db30a3abc0cfc608aacfebb0

Token Type: Utility.

Total Supply: 10,000,000,000 MATIC.

Circulating Supply: 4,991,963,446 MATIC.

MATIC Token Allocation

MATIC Token Sale

MATIC Token Release Schedule

MATIC Token Use Case

Currently MATIC is acting as a main coin of the Polygon network and has the following functions:

To become a Validator and receive rewards for Proof of Stake validation, participants must stake a fixed amount of MATIC.

Payment unit of developers who want to develop dApps on Polygon Ecosystem.

Used to reward users Staking coinMATIC.

How to earn and own MATIC

Users can now own MATIC by buying on a supporting exchange like Binance, FTXCoin98 Exchange,…

MATIC Token Exchange & Wallet

MATIC Storage Wallet – Coin98 Wallet

You can store MATIC coin on Coin98 Wallet with the following simple steps:

Step 1: At the main interface, select Receive (Take).

Step 2: Enter MATIC in the search box.

Step 3: Copy the MATIC wallet address and send MATIC tokens to this address.

MATIC Exchange – Coin98 Exchange

You can now trade MATIC right on Coin98 Exchange by following the steps below at:

Step 1: Connect the wallet via Coin98 Extension.

Step 2: At the main screen of Coin98 Exchange, select Uniswap or QuickSwap.

Step 3: Select Token to trade

Search MATIC.

If the search doesn't come up, you can paste the MATIC contract into the search box: 0x7d1afa7b718fb893db30a3abc0cfc608aacfebb0

Step 4: Enter the number of tokens you want to swap.

Step 5: Adjustment gas Gwei and slippage (slippage) on demand, then Browse transactions (Approve).

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Roadmap & Updates

One of Matic's biggest changes was the rebrand to Polygon.

Project team, investors, partners

Project team

The development team of Matic Network (also Polygon) includes:

Jaynti Kanani (Co-Founder): Blockchain engineer and developer for Web3, Plasma, WalletConnect. Formerly data scientist at Housing.com.

Sandeep Nailwal (Co-Founder): Programmer, former CEO of Scopeweaver, CTO of Welspun Group.Anurag Arjun (Co-Founder): Formerly AVP (Product Management), IRIS Business. Working at SNL Financial, Dexter Consultancy and Cognizant Technologies.

Mihailo Bjelic (Co-Founder): Tech developer on Ethereum.

Polygon Advisors:

Hudson Jameson – Belongs to the Ethereum Foundation.

Ryan Sean Adams.

Anthony Sassano – Belongs to EthHub.

Pete Kim – Head of Engineering, Wallet at Coinbase. Founder of Cipher Browser and formerly Co-Founder & CTO at Nitrous, Inc.

John Lilic – Former member of ConsenSys.

Investors

Since 2018, Polygon has raised capital and is invested by Coinbase Venturesone of the largest and most famous investment funds at the moment has shown the development potential of Polygon.

In addition to Coinbase Ventures, Polygon is also invested by Binance Labs (later Binance listed MATIC), Block Capital, Validation Capital, ZBS Capital, MiH Ventures, etc.

Partner

Up to now, after nearly 3 years of operation, Polygon has achieved a lot of success and especially became a partner of more than 100 large and small projects such as Elrond, Chainlink, The Graph, etc.

With the Ethereum network bottleneck not yet fully resolved, Polygon's scaling solution is sure to gain even more popularity, especially for new projects like EasyFinice Quickswap.

Similar projects

Currently, there are many projects that are implementing solutions on Layer 2 to solve problems on the Ethereum network such as: Skale, Celer nice xDAI. These are all potential projects with real applications.

xDai has been a bridge to help many tokens run on the BSC network, you should take the time to learn about Layer 2 solutions, because the DeFi space is constantly expanding and will leave anyone behind. do not update more knowledge.

summary

Thus, I have provided you with detailed information about Matic Network and MATIC Token.

What do you think the future and potential of MATIC will be? Don't hesitate to leave a comment below to discuss with Coin98! Please register and join Coin98 Insights groups and channels below to discuss with admins and other community members:

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