First Version Of Matic Network Mainnet Goes Now Live
First Version Of Matic Network Mainnet Goes Live
June 4, 2020
First Version Of Matic Network Mainnet Goes Now Live
First Version Of Matic Network Mainnet Goes Live
June 4, 2020

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.

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Source: CoinDesk | Image: Unsplash

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Jafrin Ahmed

Crypto newbie passionate about creating resourceful content on blockchain technology, cryptocurrencies and decentralized apps.
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