MATIC (Matic Token)

Created by Mehdi Aghazadeh, Modified on Sun, 2 Apr, 2023 at 2:56 PM by Mehdi Aghazadeh

MATIC(Matic Token)

Issue Time
2019-04-29
Total Supply
10,000,000,000
Circulation
3,830,626,432
White paper
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Website
https://matic.network/
Block Explorer
https://etherscan.io/token/0x7d1afa7b718fb893db30a3abc0cfc608aacfebb0

Matic Network is a layer-2 scaling solution with side-chains for off-chain computation, while ensuring asset security using the Plasma framework and a decentralized network of Proof-of-Stake (PoS) validators. It aims to offer scalable and instant blockchain transactions. By utilizing adapted version of the Plasma framework, the system is built on PoS checkpoints that are pushed to the Ethereum main-chain. As a result, it is expected to allow each Matic sidechain to theoretically achieve 2^16 transactions per block. Matic Network has been a significant contributor to the Ethereum ecosystem, having worked on implementations of Plasma MVP (Minimum Viable Plasma), the WalletConnect protocol, and Dagger, a popular Ethereum event notification engine. Many projects have already been building applications on and integrating with Matic. MATIC is an ERC-20 token running on Ethereum, it used to pay for services on the Matic Network but also serves as a settlement currency between users who operate within the Matic ecosystem.