Matic Network: A Unique Solution to Your Smart Contract Platforms

Matic Network comes as a solution to the myriad shortcomings of blockchain smart contract platforms like scalability, low transaction speed, or the high speed at the cost of decentralization. Often, these shortcomings have lessened the utility of smart contract platforms, although few decentralized apps (DApps) have gained a large user base. They have reduced the network speed during high load. Matic has made an effort to resolve the issues of scalability and usability without making a compromise on decentralization.

Some of the unique features that the Matic Network aims to provide along with a high-quality experience to users of DApps or other functionalities are scalability, high throughput, user experience, ensured security, and public sidechains.

Transactions on Matic sidechains have been made swift, economical, and safe “with finality achieved on mainchain and Ethereum as the first compatible Layer 1 base chain.” The Matic Network also claims of a high throughput having achieved as high as 10000 TPS on a single chain on internal testnet, and several chains would be added for horizontal scaling. Smooth user experience is another major advantage of the Matic Network as it allows a seamless and hassle-free UX and developer abstraction from the main chain to the Matic chain and also of the already existing mobile apps and SDK supported by WalletConnect. As Matic chain operators are stakers in the PoS system, it assures the security of the network, and unlike individual DApp chains, Matic sidechains are also public in nature. This allows the network to support many protocols and become permissionless.

These unique features have brought in several collaborations and partnerships for Matic. For instance, “The Sandbox” has recently announced its plans to partner with Matic Network as the scaling solutions and interoperability provided by the latter enable user-friendly communication.  The transactions would also become easier as Matic is committed to remove all the obstacles which would help in mass adoption and greater mainstream acceptance. The network has also provided support to many blockchain games like Battle Racers, Blockade Games and would also help the Sandbox team to present an improved UI/UX experience for the users. These would fasten transactions and the partners would work to improve the decentralized exchanges.

Somnium Space, an Ethereum based VR platform, has also decided to onboard to Matic Network to resolve all issues of scalability and offer a premium quality user experience to its community. The major drawing point has been Matic’s advanced scaling infrastructure, which would improve the experience of players and also Matic’s large community base would enhance the wider adoption of Somnium Space. The latter is “an open, social and persistent VR world built on a blockchain,” and had initially been using Loom Network for scaling purposes but has now shifted to Matic for the better. Somnium Space is putting its efforts to create a “stable, legitimate an open economy” by enabling real item ownership for its users, which would empower them and create a  superior experience of the virtual economy.

This virtual economy is as complicated as various in-game products like NFT collectibles, avatars, wearables, etc. all of which need high-throughput, low-cost transaction fees, and quick confirmation. Here, the Matic Network would play an essential role in “enabling fast, secure, and scalable transactions via their high-performance plasma-based sidechains.” Somnium Space land parcels have high public demand and they are offering a Secondary Land Offering later this year in the virtual world. Thus Somnium Space and Matic Network would benefit each other as both would further boost the other’s already popular user base. Matic Network, with its special benefits, is creating a niche for itself in the blockchain industry, especially with the removal of roadblocks in smart contract networks. Coupled with its unique approach to the technical aspects of Layer 2 and also its potential support for different use cases, Matic Network has been placed in high demand in the blockchain market. And hence, this will also affect the currency in terms of prices. As per the MATIC coin price prediction, it might reflect tremendous growth in the future.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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