(Listen to our latest podcast here. It is with Sandeep Nailwal of Matic Network, which is a layer 2 protocol working on ETH’s Plasma. Matic Network recently finished a successful launch on Binance Launchpad and also is the first Indian crypto startup to receive funding from Coinbase Ventures).
After great conversations with Thomas Pacchia
and Dhruv Bansal
, this time around, we have on the Satoshiand.co podcast series, Sandeep Nailwal
, from the Matic network. Matic is an implementation of Plasma on the Ethereum network. Matic uses sidechains and state channels, in conjunction with a POS algorithm on the sidechain to attempt to solve the scalability issue on Ethereum. It is analogous to what Lightning attempts on Bitcoin.
Matic recently raised capital through an IEO process from Binance launchpad and is also Coinbase Ventures first investment in an Indian team.
A quick synopsis of the podcast before out regular Friday DeFi metrics….
What is Matic?
Matic Network is a Layer 2 scaling solution that achieves scale by utilizing sidechains for off-chain computation while ensuring asset security using the Plasma framework and a decentralized network of Proof-of-Stake (PoS) validators. Matic strives to solve the scalability and usability issues while not compromising on decentralization and leveraging the existing developer community and ecosystem. Matic Network is an off/side chain scaling solution for existing platforms to provide scalability and superior user experience to DApps/user functionalities.
Who is using this now?
Gaming, Payments and DeFi are among the earliest beneficiaries of a Matic sidechain network. Matic Network’s design is very conducive for building Dapp-based games and some of the popular decentralized gaming projects such as Decenterland, Chainbreakers, and Pocket Full Of Squares are already building Matic’s sidechains.
Why is it promising?
The most unique thing about Matic Network is that it is the first Plasma implementation on the Ethereum blockchain, with prominent Dapp projects already building on the Matic network. Plasma is very critical for the scalability of the Ethereum blockchain
and Matic Network is expected to benefit from the growth of Plasma. Moreover, it is Coinbase Ventures first investment in India.
And now on to regular Friday programming…