Overview of MATIC: Decoding the Enigma
An ideal blockchain platform, Matic provides cheaper and lightning-fast transactions eliminating the complexities involved in the decentralized ecosystem. Matic has been created with the sole objective of a multifunctional and multipurpose advantage in all walks of life.
Matic Network was brought to life by CEO Jaynti Kanani, Sandeep Nailwal, and Anurag Arjun in October 2017 after Vitalik Buterin and Joseph Poon released a whitepaper on the Plasma framework. It was observed by the duo that Ethereum was not fully scalable and hence they coined the benefit of using PoS side chains connected to the root chain. Here each and every individual chain deals with its independent blockchain with its consensus mechanism, block validators and it can create more “child chains” of its own.
Matic Network: The MATIC Token
The round-the-clock active team of Matic Network has produced interface libraries that are first of their kind. These are tools that help you create programs and implement the interface. The network also brought to the masses a unique token MATIC in the year 2019.
The current price stands at $0.019 and the total supply of Matic currently stands at 10,000,000,000.
Vantage Matic: The Vast Potential
For Payments, integrating Matic on DApps enables settlement of payment whenever, wherever. The confirmation of such transactions gets processed in a fraction of seconds. This happens due to faster block generation times wherein the fees are the lowest. Matic provides APIs/SDKs for DApps, merchants, and users to instantly accept or pay in crypto assets like ERC20 tokens, ETH, and others.
Matic enables decentralized exchanges to offer expeditious and inexpensive trades for their users. Integration with Matic helps these exchanges to run on steroids making them trustworthy and secure. No wonder this decentralized exchange drives the future of digital assets.
Matic reinforces gaming networks thereby speeding up their performance in processing transactions since all the processes in the gaming world happen over blockchain, they become more reliant on Matic.
Personal data security is another accountability zone of Matic as it is in itself a blockchain scalability platform an adapted version of Plasma.
Matic users tend to send and receive payments in the currency of their choice through Matic smart contracts as Matic handles the conversion through atomic swaps between cross-chain crypto assets.
Matic also acts as a Lending & Credit scoring platform for merchants. The traders can ascertain the worthiness and credibility of their borrowers viewing their transaction history facilitating lending of tokens to those who stand a better chance of timely repayment.
Through an open-identity system, Matic ensures that users have control over their private keys without worrying about their security or divulging of personal keys.
More advantages follow……..
Ø Multifunctional attributed to Matic enables diversified uses of existing apps including security and safety of data and transactions.
Ø Matic ensures Accessibility especially in Layer 2 solutions
Ø Variety of Application platforms offered on Matic creating a surreal experience.
Ø Intertradability is another key feature of Matic via DEXs
Ø Through Zapier integration through Dagger on Matic developers can onboard Ethereum platforms that boost mass adoption thereby enhancing productivity and supporting more apps in the process.
Ø Matic allows access to partnership via Decentraland, Zebi, Hey Coral, and MakerDao.
Ø Plasma operator mechanism of Matic enables scalability allowing up to 65k TPS.
Ø Plasma wallet mobile app integrated with WalletConnect, to ensure secure storage of keys, intuitive access to the features provided by the Matic.
Ø Features supporting mobile applications and developer kits are extremely user-friendly and have their independent version of the PoS algorithm.
Ø A plethora of Defi apps can be posted on Matic’s sidechains.
What is Cooking in Matic Lab:
Matic has always been aggressive on partnerships and bringing constant updates in tandem with the latest technology and hence projects always have something innovative to bring to a platter.
The Recent announcements include the following updations:
- Alpha and Beta versions of Mainnet been launched
- Deposits and withdrawals of all Ethereum based assets supported
- Support of ERC721-ERC20, ERC20-ERC20, ERC721-ERC721 transactions enabled
- Facilitation of adaptation of Proof-of-Stake validators
- Offering API and SDK’s toolkit for easy, simple, and secure Dapps development
With the objective of becoming the most trusted and safe staking service provider Matik has made a giant leap in the staking services. It plans to amalgamate more companies in its network with this aim.
Emerging the best ever staking ecosystem Matik has established an alliance with stake.fish, stake capital, and staked. The delegates of PoS and stakers managed consensus and security. Stakers also get the liberty to choose Block producers.
MATIC: Showcasing an Unparalleled Performance
The actual strength of the Matic Network lies in the fraud-proof mechanism. By implementing PoS at the checkpoint layer as well as delegates at the block producer layer, Matic ensures optimum decentralization. This mechanism entails users to submit details of any fraudulent transactions suspected. As a result, fraudulent cases are slashed. This mainchain security is supplementary to the PoS protocol security on the side chains.
Another feature of the Matic Network is the implementation of Plasma which is built on state-based side chains running on EVM. This makes Matic Network give scalability for generic smart contracts. The public checkpointing layer which works on periodic intervals makes the network permit side chains to operate at high speeds while publishing the checkpoints in batches.
Layer scaling solutions with decentralization are ultimate Matic objectives. The expanse of Matic is vast and does not limit itself to financial transactions/ trades but other casual Dapps like games etc. too. Another benefit with Plasma cash that Matic harnesses is using checkpoints for 1-second block times (with PoS layer). As Plasma Cash works with Non-Fungible Tokes (NFT), it works great for game cards and social state changes where you have pre-defined fees (bundled as NFT – eg “20 tokens” to play game equals 1 NFT coin on plasma cash). In scaling projects viz. Matic and Quarkchain, Matic remains outstanding with its unique trait to access scale attaining an optimum decentralization.
Built on the Ethereum mainchain, Matic Network has the advantage of programming language, developer documentation, etc. readily available and it does not have to build everything from scratch. This is so mainly as Matic is an EVM based side chain.
In the payments segment too, Matic Network outshines its competitors like Raiden Network and others mainly because of Matic’s underlying technology there is no requirement of separate payment channels for users and they only need to have a valid Ethereum address to receive tokens.
A majority of financial service applications like DEXs, Lending DApps, and many others can be easily accessed by Matic Network users. Ultimately, it can be seen that Matic has endeavored an exemplary move to enhance customer experience facilitating the user-friendly implementation of tools.
Matic Network on Partnership Spree:
In order to leverage more scalability with Matic, Somnium Space has joined hands with Matic for launching a secondary land offering. Integration with Chainlink proved the second most influential nuptial for Matic as it integrated with Ankr Network, Spring Role Marlin, Stack City, Cere Network, Nestree, Prometheus, and Tokamak. This allowed Matic to enter a different space of assets viz. Data Brokerage, integrated messaging apps, WiFi ad Bidding, spearhead Enterprise Adoption, Decentralized oracle, scaling research & recruitment worldwide.
Decentraland, Zebi, Maker DAO, Parsec Labs also invested in Matic coupled with a public offering. Matic being listed in the top Indian exchange platform viz. WazirX, more news is awaited.
Analysis of Matic’s Historical Price Movement
The psychology of users plays a pivotal role in the crypto market sentiment. Prices are very sensitive to the crowd’s mental approach towards giving a push to any crypto token. Matic too is no exception. The inertia that initially played for Matic in 2019 is no more there as the token has gained customer trust bringing profit for investors as well as traders. The downswing that played for Matic in 2019 evaporated in the backdrop of its technological solutions. They were by no means paradigm but sure in the EnY perspective, it can be said the token was being tracked for movement.
In the past 30 days, the Matic Network price has increased by 7.55%, while its accomplishments on the 1-year time frame amount to 61.08%. In May 2019, Matic price traded at $0.003012 while in a maximum of 12 days, it shot up to $0.045017. A frequently and keenly observed trait of Matic is that it has shown the most erratic and fluctuating behavior. Showing optimum bullish trends, it surprises with downward bear pinning down movement.
Experts’ Take on Matic Price Predictions
While some experts have an optimistic view on Matic stating the coin may outperform its rivals, others hold their cards close to their chest.
Going by Wallet Investor’sMatic price prediction for 2020-2025, “Matic is an excellent long term instrument for investment. The price of Matic can go up from 0.0156 USD to 0.0236 USD in one year. Matic also shows a long-term earning potential is +51.05% in one year. The future price of Matic will surely be 0.0572 USD. Matic is set to have a bullish cycle and earn a profit for its investors. It is highly recommended as a virtual currency.”
Reddit Users’ Matic Network technical analysis and price prediction states almost a similar opinion, “The biggest landmark victory for Matic is that it would cross $1 USD and calculating ROI percentage will be around 4730%, so with 5-year HODL it will be worth to bet on Matic. With an increased risk of loss, we would recommend Matic to be a reasonably good short term investment though.”
TradingBeasts’ Matic Network technical analysis and price prediction for 2020-2022 is somehow fluctuating as it states, “While the beginning of January 2021 Matic price is forecast to cross $0.0199250, the expected maximum price at the end of the month shall be $0.0200741. Matic price is set to rebound by June post-pandemic and vaccination availability over the globe that would reflect a good peak of $0.0273415, a minimum price $0.0185922 by end of the year 2022 which it is sure to scale.”
“An ambitious bullish outlook for 2021 has been made by Market Haven, a crypto price prediction platform,
as it claims 2021 will be a flawless year for Matic. As per their Matic Network price prediction, MATIC price could reach as high as $0.020 by 2021.”
“The coming years will appear as a smooth time for Ripple as there would be an extension to the alliances and emerging innovations that will raise its price to 8 to 10 dollars.”- Coin Age.
There is a good reason to agree with the opinion of GoodTime Natio, claiming that “Matic is entering a highly competitive and ruthless space—off-chain scaling. Given the listing on esteemed platforms and is the brainchild of impressive tokens, a price surge in Matic can be certainly expected.”
Matic Network has gained trusted credibility among enterprise businesses. Matic’s projected growth is set to reach extreme highs, similar to what was seen during the ICO boom and crypto hype bubble that drove Ethereum prices from under a dollar to as much as $1,400 before falling back down to a low of $80. Matic has long been a panacea for application developers. Solutions for real-world problems like currency transfers, and distributed finance have found base with Matic.
The Matic Network price prediction and forecasts of various experts do not deter MATIC from outperforming the rivals by any means. The Matic community has set higher benchmarks for itself notwithstanding. Matic Network price shall surpass the expectations of all cryptocurrency investors who have found this platform extremely interactive and uncomplicated. Another important launch of Matic’s token exchange is set to unveil soon which would be backed by multitudes of exchanges.
Our Verdict on MATIC Price Prediction
As a non-mineable token Matic currently stands at a price of $0.019078 with a market capitalization of $91, 545, 665, which puts it in the position of 95 in the global cryptocurrency rankings. There are 4798458112 Matic tokens available in supply currently.
In April 2020, Matic Network price hiked by 165%, and its best price was $0.0263 USD showing great potential but big milestones yet to be achieved. Given the Covid-19 scenario looming large, it was of course a commendable performance for Matic Network.
The best tip to invest in Matic Network will be to wait for another fall, as currently, Matic is at the peak. Even though there could be misleading surprises for us in terms of Matic, like any other cryptocurrency, it is wise to wait for another round of upward bullish push.
Even though other major crypto giants seem to be getting social media hype, Matic will sure steadily show a positive pattern, constantly rising and the year 2021 will be the year of Matic with the prediction of a minimum of 0.20 for sure.
MATIC Price Prediction 2021-2025
The demand and supply trends in the average trading volume reveal the increasing demand for MATIC tokens on the backdrop of the decreasing supply of the corresponding cryptocurrency. The Crypto Volatility Index (CVIX) sheds light on the future price scenario for Matic.
Volatility, despite being the inherent trait of all cryptocurrencies, overpowers the choice of most traders. Even though pandemic shook the roots of the fiat currencies, cryptocurrencies like Matic took the world by surprise showing gains despite the crisis. Hence, volatility represents an immensely important aspect of crypto trading. While analyzing Matic, one can’t afford to ignore the attributes of artificial intelligence and deep learning mechanisms that go behind Matic.
Matic Network has brought past investors well over 60% returns before the onset of a new year. Matic is an especially great asset for traders who can take advantage of these price swings with a long or short position and let us what industry experts forecast for investment next 5 years:
Matic Price Prediction 2021
Having witnessed a massive dApp adoption in 2020 that drove the price of Matic Network. The Partnerships and alliances shall push the scalability of the network to 1,00,000 transactions per second. The network is super popular with numerous projects built on it, given the advancements are maintained we can see Matic Network price soar to $0.019 making it a time high.
Matic Price Prediction 2022
With partnerships & alliances, and community funding, the market looks back at Matic Network to perform reaching a level of $0.0265, which is quite optimistic but surely feasible.
Matic Price Prediction 2023-2025
With any changes in Govt. policies and regulations, Matic Network may too have its share of hazy days. Matic should sail calmly at $0.021 or max bow down to $0.0199 making it not plummet but play consistent.
It would not be an exaggeration to find that Matic will scale a peak of $0.030 someday though the same can’t be called a very overstated and buoyant reach.
Matic Network price prediction has truly somersaulted in the year 2020 totally transforming the trend from beginning towards the end of the year. Matic has had a historic journey throughout. All said and done Matic’s trend has been quite aggressive leading to a very optimistic path. The coin may grow in leaps and bounds, especially for alliances. New Partnerships would bring Matic to the limelight making it the center stage for investments and a socially esteemed cryptocurrency. In the process, more transactions shall be executed with every passing second which may prove a tough challenge for crypto rivals of Matic.
But surely the BULL WILL BE BACK !!
Conclusion: Matic: Blockchain Redefined
A major gem in Matic crown is its ability to constantly upgrade and innovate. Matic has already adopted a PoS mechanism and thus has huge growth expected in the upcoming years. The price horizon is pretty bright for Matic. It does not solely bank on decentralization. Another icing on the Matic cake is that crypto exchange prepares for Matic Network IEO.
Apart from the adaptation to the Plasma framework Matic network aims to offer off/side chain scaling solutions for blockchains. Matic Foundation is also having the goal to provide Matic wallet, payment APIs & SDKs, products, identity solutions, and other enabling solutions facilitating developers to design, implement and migrate DApps built on base platforms like Ethereum. The fundraising initiatives of Matic include a Seed Sale round of $165K and an Early Supporter Sale of $450K that together will make up for 19% of the total tokens allocation.
Governments worldwide are taking measures to restore the economies and it is set to have an influential impact on Matic too. This should make Matic an active and safe haven for investors. According to CNBC International, some crypto fans say it could push Matic down to the unprecedented wave of stimulus from governments and central banks around the world aimed at tackling the coronavirus crisis. Such measures, they say, devalue fiat currencies, making Matic an attractive alternative.
All these factors and plans are surely enough to make the Matic King rule the crypto world…..isn’t it?
Frequently Asked Questions
How high can Matic’s price go?
Going by the long term, say 1 year, Matic price can escalate to $0.0236. The long-term earning potential is +51.05% in one year.
Is Matic a good investment?
Surely. It is also necessary that you do your own due diligence before you invest in any project.
When does the reward get distributed?
On submission of a checkpoint, rewards are distributed. Currently, they are proportionately allocated on each successful checkpoint submission to each delegator based on the stake relative to the overall staking pool of all validators. However, the percentage may vary based on the stake of a delegator.
Also, a 10% proposer bonus is expected for those who submit the checkpoint every 34 minutes. If there is congestion in the network, the submission may be late too.
Why does reward keep getting decreased at every checkpoint?
With more Matic tokens getting locked in staking contracts, the rewards get Actual rewards earned will depend on the actual total locked supply in the network at each checkpoint. This is expected to vary significantly as more MATIC tokens get locked in the staking contracts.
How can I claim my rewards?
You can claim your rewards instantly by clicking on the “New Rewards” card and then clicking on the Withdraw rewards button. This will transfer the rewards accumulated to your delegated account on Metamask.
What is the Unbonding period?
The unbonding period is applicable to the initially distributed amount and re-delegated amount. Presently the period on Matic is approximately 9 days.
Will I still get rewards after delegating to an External Node?
Yes, rewards will be distributed the same as earlier with the Foundation nodes. Every successful submission of a checkpoint will yield rewards. Rewards will be distributed and calculated at every checkpoint relative to the stake ratio, as currently implemented.
Will there be any unbonding period if I unbond from an External Node?
Yes, the unbonding period will stay the same as currently implemented with 424 Checkpoints.
When do you expect a live implementation of Matic to be launched?
The implementation is live already and even put on youtube. There was also a demonstration in Mumbai recently done on Kovan Testnet.
Why will it be difficult to replicate Matic’s plasma implementation?
Our getting the GPL license mandates anyone imitating our implementation to open source their code compulsorily. As regards copying code, it is as much available to Bitcoin and Ethereum, as to any other.
What is the expected TPS you’ll be able to bring to the Ethereum network? What are you running now on testnet?
A single side chain has the capacity of 2^16 (65,000+) transactions per second. Matic network has the capability to add multiple side chains. Initially, our concentration is on bringing more stability with one side chain.
What is the actual need for having Matic Token required?
The following reasons reinforce the need of having Matic token:
a) Having started on Ethereum as our first base chain, we as Matic can work on multiple base chains in the future. Hence we aspire to be common scaling solution providers for public blockchains.
b) Reason 2 is that we intend to use a liquidity pool like Kyber to facilitate Dapps paying off-network fees by abstracting a token swap mechanism. This would create an impeccable user experience.
c) With Matic tokens, we have provisioned a large percentage of tokens to be distributed for seeding block producer, checkpointer stakes, and subsequently offer block rewards. You need Matic tokens only when you want to deploy on Matic Mainnet, where the gas fee is much lower than Ethereum, around 1/100th of a txn fee you pay on Ethereum.
What other platforms are you aiming toward, and is there a timeline for implementation?
Our current priority is to make Mainnet live on Ethereum. Soon plans shall be declared for other Blockchains too.
What are the new launches in Matic kept secret?
“We intend to launch the alpha version of our Mainnet with working Dapps before the Token sale. We do have 4 teams building their solutions on top of Matic. One of them is a banking wallet in India, 1 in the gaming segment, 1 in referral marketing, and 1 in the ad network. There are others in the pipeline but are not yet finalized.
What drives the use and demand for Matic tokens?
Of course, the primary use of the token is to pay transaction fees:
- To stake for PoS consensus participation for checkpointing layer and block production layer
- To create a flawless user experience enabling Dapps
- To facilitate faster and speedy withdrawals and transactions
- Protocol Level burning of tokens to make it deflationary in nature
- Keeping a low-entry barrier for higher adoption