The first version of Matic network mainnet is now live.
On May 31. an official announcement was made stating that it had brought 10 nodes online, the first volley of a network Matic hopes to grow tenfold.
With the rollout, Matic can now run dapps and support asset transfers between its network and the ethereum mainchain.
Last year, the India-based Matic Foundation raised seed funding from Coinbase Ventures.
Future deployments will gradually move control of Matic over to the community.
According to the announcement, Matic uses Plasma framework-based side chains and a proof-of-stake model to speed up dapp performance at “1/100th” of the ethereum gas cost.
Chandresh Aharwar, operations chief said:
“What we are building actually provides a lot of firepower to Ethereum.”
The Matic team began building toward mainnet launch two and a half years ago. Meanwhile, Matic is trying to position its sidechain for dapps that might otherwise choose to based on EOS or TRON for performance gains.
Source: CoinDesk | Image: Unsplash
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