Matic Network has been renamed to Polygon.

Polygon is a protocol and framework for building and connecting Ethereum-compatible blockchain networks. Aggregating scalable solutions on Ethereum supports a multi-chain Ethereum ecosystem.

Polygon (formerly Matic Network) is a second-layer scaling platform enabling fast, simple, and secure off-chain transactions, not just for payments but also for generalized off-chain smart contracts. A significant contributor to the Ethereum ecosystem, Matic Network has made notable contributions through the implementation of Plasma MVP (Minimum Viable Plasma), WalletConnect protocol, and the Ethereum Event Reminder Engine - Dagger. The Matic token is used for staking, participating in the proof-of-stake consensus mechanism of the sidechain network.

Project Overview

The mission of Matic Network is to drive mass adoption by leveraging decentralization, scalability, and security through our Layer 2 scaling solution, using sidechains for off-chain computation while ensuring asset security with the Plasma framework and a decentralized Proof-of-Stake (PoS) validator network. Matic aims to solve the issues of scalability and usability within the blockchain ecosystem without compromising decentralization and leveraging existing developer communities and ecosystems. With a stronger framework that facilitates higher transaction throughput, Matic is currently providing developers with the resources needed to build world-class Dapps across multiple industries such as decentralized finance, gaming, enterprise software, and more. Matic Network is designed to provide a Layer 2 scaling solution, utilizing sidechains for off-chain computation while ensuring asset security with the Plasma framework and a decentralized Proof-of-Stake (PoS) validator network, achieving scalability. Matic will become the de facto platform for deploying and running decentralized applications.

Main Features

1. Scalability
Fast and low-cost transactions on sidechains with confirmation on the main chain; Ethereum is the first compatible base chain.

2. High Throughput
Up to 10,000 TPS can be achieved on a single sidechain in the testnet; multiple sidechains further assist in horizontal scaling.

3. User Experience
Smooth user experience and development abstraction layer from the main chain to the Matic chain; includes WalletConnect-supported mobile apps and SDKs.

4. Security
Matic chain operators are also stakeholders in the PoS system.

5. Public Sidechains
Matic sidechains are public and permissionless chains that can support various protocols.

Use Cases

1. Payments
Matic Payments can be integrated into dApps with a few simple steps, settling payments on-chain when needed. Due to shorter block generation times, payment transactions on the Matic Network can be confirmed in sub-seconds with significantly reduced fees, offering dApp users a smoother, frictionless payment experience. Matic provides a simple interface and payment API/SDK for dApp developers and users to instantly accept or pay with ERC20 tokens, ETH, Bitcoin, and other crypto assets.

2. Decentralized Exchanges
Decentralized exchanges lag behind centralized ones due to low transaction throughput and long wait times. Matic offers all the features a trading platform should have—faster, cheaper transactions. Matic supports decentralized exchanges and enables trustless, reliable, and easy crypto trading.

3. Gaming Networks
Historically, games have been run by companies controlling the supply and sale of in-game currency and digital assets and collectibles. Users do not own the assets they purchase or win on traditional gaming platforms. Blockchain provides a reliable way for users to control ownership and trade of their assets. Matic can help improve the efficiency of executing transactions within gaming networks on the blockchain, such as purchasing or selling in-game currency, or buying or selling digital assets in card-based games.

4. Token Airdrops
Due to Matics unique scaling architecture, it offers instant, secure transactions at a low cost. This can be utilized in various bulk transfer use cases. For example, Matic enables projects to conduct bulk token airdrops without high transaction fees and minimal waiting time.

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