Matic Network is a Layer 2 scaling solution that achieves scale by utilizing sidechains for off-chain computation while ensuring asset security using the Plasma framework and a decentralized network of Proof-of-Stake (PoS) validators.
- Scalability: Fast, low-cost and secure transactions on Matic sidechains with finality achieved on the main chain and Ethereum as the first compatible Layer 1 base chain
- High Throughput: Achieved up to 10,000 TPS on a single sidechain on internal testnet; Multiple chains to be added for horizontal scaling
- User Experience: Smooth UX and developer abstraction from mainchain to Matic chain; native mobile apps and SDK with WalletConnect support
- Security: Matic chain operators are themselves stakers in the PoS system
- Public Sidechains: Matic sidechains are public in nature (vs. individual DApp chains), permissionless and capable of supporting multiple protocols
Matic strives to solve the scalability and usability issues while not compromising on decentralization and leveraging the existing developer community and ecosystem. Matic Network is an off/side chain scaling solution for existing platforms to provide scalability and superior user experience to DApps/user functionalities.
Matic is unique both in terms of its technical approach towards Layer 2 as well as its potential support for a variety of use cases.
- Matic Layer 2 is an account-based variant of MoreVP (More Viable Plasma). The Plasma framework is used to guarantee the security of assets on the main chain (such as ERC-20 and ERC-721 tokens for Ethereum), while generic transactions are secured by a Proof-of-Stake network, built on top of Tendermint. Matic sidechains are essentially EVM-enabled chains and are conducive to the ready deployment of solidity smart contracts, essentially making it an easy tool for Ethereum Developers to use it for scaling their DApps/Protocols.
- Commercially, Matic sidechains are structurally effective for supporting the many Decentralized Finance (DeFi) protocols available in the Ethereum ecosystem.
- Matic’s core philosophy is to enable DApps to compete with the user experience that is offered by centralized apps today.
- Ethereum is the first basechain Matic Network supports, but Matic intends to offer support for additional basechains, based on community suggestions and consensus, to enable an interoperable decentralized Layer 2 blockchain platform.