Overview of the features of the Matic Coin project

Matic Network promises to provide a simpler interaction between users and decentralizedfinancial applications.

Matic Network is built as a decentralized platform running on a customizable iteration of the Plasma framework, which providesScalability of the Ethereum network. 

According to Vitalik Buterin's proposal, this structure should simplify the execution of scalable and autonomous smart contracts, which will allowBuild globally accessible decentralized finance applications on a single underlying blockchain. 

What are the main goals of the Matic Network?

The Matic Network contains many features that are being promoted by developers as solutions to the major problems of modern crypto technology.

1. Scalability

Matic Network aims to stimulate massiveimplementation, solving scalability problems. As practice has shown, the power of the Ethereum blockchain is not always enough for the normal operation of popular decentralized applications.

Based on the predictions presented in the Matic Network whitepaper, this platform will be able to achieve 65,000 transactions per second, combined with a block confirmation time of less than 2 seconds.

2. Bandwidth

Matic Network promises to make slow transactions a thing of the past without compromising the principles of decentralization.According to the developers, Matic's PoS consensus model does notdecentralization and security at the same time. 

3. Low fees

Matic Network promises to reduce commission fortransactions. The developers claim that some blockchain implementations will never reach mass adoption due to high transaction prices and similar fees.

4. Blockchain compatibility

Since the Matic network is powered by the Ethereum Virtual Machine (EVM), it doesn't need to open payment channels between the two parties.In this way, a valid Ethereum address is treated as a peer address of the Matic network, without requiringcustomer joining the Matic chain to be able to receive payments.All you need in this case is to have a Matic wallet.

How does Matic staking work?

Any user can deposit their Matic tokens into the contract to become a staker.In addition to validating transactions, stakers can make suggestions to improve the blockchain. 

Stakers nominate block producers by voting and instruct them to create Matic blocks. The nomination is supported by evidence of an adequate bet.

Matic token

Matic Token is a utility token on the Matic network, and it is designed to perform several main roles:

 • Be a payment unit in the network.

 • Serve as a means of payment between users participating in the operation of the Matic ecosystem.

 • To be a means of financial incentivization for users who want to contribute to the Matic network and preserve its ecosystem.They can, for example, provide computing resources and services related to the publication of proofs and validation of blocks, and in return, earn Matic tokens.

 • Be staked to participate in the Matic Network consensus procedure. 

On April 24, 2019, the Matic network organizedsale of tokens on the Binance Launchpad platform. This sale was the first to be held in a new lottery format. In early 2019, the Binance exchange announced a new system in which a user can request up to five tickets to participate in the token sale, while the number of tickets depends on the amount of BNB held over a 20-day period. Thanks to the successful sale of 1.9 billion available tokens, approximately $ 5 million have been raised.

The token is available for trading on most crypto exchanges. 75% of all transactions take place on Binance. Purchased tokens can be stored in the official Matic wallet.

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