Read Binance's upcoming IEO project MATIC in one article
announcementannouncementSaid that a new Launchpad project will be launched soon -Matic Network(MATIC), this time will be based on the new lottery lottery mode. The sale time is from 16:00 on April 24th to 22:00 on April 26th. The maximum number of winning lots is 16,666, and the purchase share for each winning number is 300 USD (114,068.44 MATIC).
research reportresearch reportBinance introduced that the MATIC network is based on the Ethereum network and achieves high-throughput secondary expansion solutions through side chains. Its mission completion throughput can meet the transaction needs of large-scale adoption of DApps. These sidechains use a PoS algorithm that allows developers to deploy scalable smart contracts without high transaction fees.
When users transfer ETH or ERC20 tokens on the Ethereum network, they have to wait for block confirmation, which takes about 14-20 seconds. Not only that, users also have to wait for multiple block confirmations to ensure the final result of the transaction. In each transaction, not only have to pay high fees, but also wait for confirmation, which greatly reduces the enthusiasm of users. According to the official website, MATIC is a scalable and instant blockchain transaction. The project focuses on solving the problem of large-scale user adoption, achieving high transaction throughput and low gas fees.
In order to solve the blockage and high Gas fee caused by a large number of transactions, the MATIC team proposed 3 solutions:
Stateful object programming model (separation of code and state)
State transition verification through zk-snark
State Transition Verification Using EVM-in-an-EVM Constructs
One of the main methods studied by MATIC is the use ofPlasmaThe state object programming model. Solve the problems faced by the blockchain ecosystem by building a distributed platform using an adapted version of the Plasma framework, enabling fast and low-cost transactions with finality on the main chain.
white paperwhite paperimage description
The blue box in the picture represents the side chain, the human icon represents the riveting layer, and the multiple blue blocks linked under the riveting layer are the side chain MATIC side chain.
It is understood that MATIC andDecentraland 、Quarkchain、Ankr Network、Portis、Maker DAO、Ripio Credit NetworkScenarios include expanding transactions that occur due to user interactions in the virtual world, exploring sidechain solutions, mobile wallet notification services, building distributed web3 stacks, etc. As of the first quarter of 2019, projects built on MATIC include: Burner wallet (users can easily scan codes to pay for digital currency without downloading an app), an upcoming game platform, a market for NFT assets, a VR games and advertising exchanges, etc.
In terms of team, MATIC currently has 12 members, including 3 technical co-founders, 6 developers, 2 marketing and 1 product manager. CEO Jaynti Kanani was a data scientist at Housing.com; first Plasma MVP implementation（Github) core contributor; wrote the original Walletconnect protocol（Github）I am Odaily reporter Wu Suixin (WeChat ID wsuixin12), please note your name, unit, title and reason when adding friends.（Github）。
I am Odaily reporter Wu Suixin (WeChat ID wsuixin12), please note your name, unit, title and reason when adding friends.
