Advanced knowledge of mathematics, cryptography, or L2 scaling should not be required. Data availability is based on 2/3+1 BFT majority on the Matic Heimdall chain by validators who stake Matic tokens on the staking smart contracts on Ethereum, and are incentivized to do so. Deposits & withdrawals on the Matic Network mainnet are now live! Polygon was co-founded by Jaynti Kanani, Sandeep Nailwal and Anurag Arjun, two experienced blockchain developers and a business consultant. Other third-party decentralized exchanges and marketplaces are also expected to come up on Matic shortly. ), ~4000 TPS, but we have gotten around 17,000 TPS while, Standard Solidity support to enable existing smart contracts to be deployed without major rework, EVM compatibility results in support for all Ethereum developer and user tooling, Compatibility with common utilities & toolchains, Reddit smart contracts can be modified and appropriate fraud proofs via predicates can be written to ensure changes can be done later, Tokens can be withdrawn to Ethereum in case the Matic sidechain goes down by way of our, Plasma contracts have been audited by a leading audit firm, Early on, we got requests from a lot of ERC721-based collectibles related games on the need to support minting on Matic directly. Bonus points: Users should be able to view their balances & transactions via a blockchain explorer-style interface. Matic provides scalable, secure and instant transactions using sidechains based on an adapted implementation of Plasma framework for asset security and a decentralized network of Proof-of-Stake (PoS) validators. Learning an uncommon or proprietary language should not be necessary. Matic Network solves the above problems by building a decentralized platform using an adapted version of Plasma framework that provides a solution for faster and extremely low-cost transactions with finality on the main chain. We just released version 1 of our mainnet in May 2020 – https://blog.matic.network/the-matic-network-mainnet-is-now-live/. We prefer solutions that do not depend on specific entities such as Reddit or another provider, and solutions with no single point of control or failure in off-chain components, but recognize there are numerous trade-offs to consider. The Matic team has put together a Proof-of-Concept for the Reddit Scaling Bake-Off. Reddit smart contracts can be modified in the future and appropriate fraud proofs via predicates can be written to ensure changes can be done later. Matic can be thought of a Proof-of-Stake based multi-operator Plasma which mitigates the possible requirement of a mass exit to a great extent. Research is in active progress to verify state transitions on sidechain with zero knowledge cryptographic approaches instead of current challenge mechanism. MATIC, the token of recently renamed Polygon Technology, has hit a new all-time high today following the announcement that it will be listed on major crypto exchange Coinbase. The token steadily started to rise after. Mints, transfers and subscribe work as they would on Ethereum. Read reviews and leave a review to help the community determine if Matic Network is a good project. We believe that the Matic Layer 2 platform is the most complete solution out there in terms of the features […] Minting Refer this page for detailed description of each step. Scaling. Read the guide here. Two Weeks: Jan 29th – Feb 12th All you have to do: Stake your GHST-QUICK […] Integrating will help Aavegotchi users to enjoy near zero transaction fees and faster settlement times. Here is an example of this fast-exit contract – https://github.com/maticnetwork/fast-exits. test3-plasma-exit.js or test3-fast-exit.js: Test plasma exit or fast exit withdraw Matic Network is a Layer 2 solution that largely fixes Ethereum’s scalability issue via an adapted version of Plasma with PoS-based side chains. Wiki for more information on the PoC and relevant Matic links can be found here: Single user scripts with meta-transaction support (gas to be paid on behalf of the user) can be found here: Bulk transaction scripts can be found here: A previous run of the bulk transactions having 300k transactions can be found here –, Total cost of the PoC (1 mn transactions each – total 3 mn txs) – ~3.52 US$ at current price, Claim and mint points: ~71 Matic tokens (~1.4 US$), Subscribe and burn points: ~52 Matic tokens (~1.02 US$), Transfer points: ~56 Matic tokens (~1.1 US$), A live mainnet (we just launched in May 2020 after 2+ years of development! Simple is better. We think Matic is the most apt solution for the scaling requirements of Reddit, keeping in mind it’s current and future needs. All audit reports are available on request. Binance is the current most active market trading it. Matic Network () Cryptocurrency Market info Recommendations: Buy or sell Matic Network? Reddit Users’ Matic Network technical analysis and price prediction states almost a similar opinion, “The biggest landmark victory for Matic is that it would cross $1 USD and calculating ROI percentage will be around 4730%, so with 5-year HODL it will be worth to bet on Matic. Matic has a beautiful block explorer – https://explorer.matic.network/ – and third-party explorer support is increasing as time progresses. Balances and transactions cannot be forged, manipulated, or blocked by Reddit or anyone else, Users should own their points and be able to get on-chain ERC20 tokens without permission from anyone else, Points should be recoverable to on-chain ERC20 tokens even if all third-parties involved go offline, A public, third-party review attesting to the soundness of the design should be available, Bonus points: Public, third-party implementation review available or in progress. Shortly before 16:00 ET, the crypto traded at $0.31 with a circulating market cap of $66.8 million. We already have support for minting of ERC721s on Matic via our MintableERC721 predicate –, As and when users do want to exit to Ethereum, they can do so via the. This step mints ExitNFT for the user (which is representative of the withdrawn asset), As soon as the Challenge Exit Period ends (, Create secrets.json in the root directory according to the format given in secrets.json.template, Insert the privatekey of the reddit contracts in the owner key of secrets.json. ... Reddit Users Price Prediction for Future. This was on one sidechain. https://blog.matic.network/the-matic-network-mainnet-is-now-live/, https://github.com/maticnetwork/reddit-bakeoff-poc, https://github.com/maticnetwork/reddit-bakeoff-poc/blob/develop/README.md, 0xc4f93FeF8086c452134B0F15a5AE963ACe6A7748, 0xd7ab2634121e7afCE48b2A8Ea5db908869158D3E, 0x94B8f2A9a36Be215F2D4211DFee523f204f0a897, https://github.com/maticnetwork/reddit-bakeoff-poc/blob/develop/README.md#workflows, https://github.com/maticnetwork/reddit-bakeoff-poc/wiki, https://github.com/maticnetwork/reddit-bakeoff-poc/tree/develop/scripts, https://github.com/maticnetwork/reddit-bakeoff-poc/tree/gsn, https://github.com/maticnetwork/reddit-bakeoff-poc/tree/reddit_benchmark, https://drive.google.com/…/1r1X0RNTIpE0w4MY599t9TO8PHvdQXqqz, https://www.notion.so/maticnetwork/Reddit-PoC-bulk-transaction-script-results-5aac772b3c0b424b93c7700ad53dc30c, https://medium.com/matic-network/enabling-faster-plasma-exits-3ca5a936f215, https://github.com/maticnetwork/reddit-bakeoff-poc/wiki/Withdraw:-How-to-exit-from-Matic-chain, https://github.com/maticnetwork/…/MintableERC721Predicate.sol, https://github.com/maticnetwork/reddit-bakeoff-poc/blob/develop/contracts/root/predicate/MintableERC20Predicate.sol, https://www.notion.so/maticnetwork/Reddit-bakeoff-checklist-b7a5252171ba48d49c5cc816ffd4a0c7, https://docs.matic.today/docs/validate/technical-requirements/, https://github.com/maticnetwork/reddit-poc/blob/master/docs/withdraw.md, https://github.com/maticnetwork/fast-exits, https://github.com/maticnetwork/contracts, https://github.com/maticnetwork/dagger.js, Encouraging Blockchain Innovation at ETHIndia Online’s Chain Runner Hackathon, Matic Network Provides $3k in Bounties for the Dapp Jedi Hackathon, The Final Frontier on the Decentralization journey of Matic:…, Matic Network Launches Live Chainlink Price Feeds to Support…, Validator Onboarding Phase 2 is Complete! By utilizing Matic’s scaling solution alongside Bluzelle's decentralized data storage network, DApp developers are now being empowered with the ability to create DApps which can effectively provide large user numbers with secure, high-performance data storage. Read more about Fast Exit here. You can refer https://github.com/maticnetwork/reddit-poc/blob/master/docs/withdraw.md for more details. If a user would like to skip the Challenge Exit Period (read above), they can submit their ExitNFT along with a signature to swap the tokens from a FastExit contract. Matic Network's Great Reddit Scaling Bake-Off submission The Matic team has put together a Proof-of-Concept for the Reddit Scaling Bake-Off. The Plasma framework with predicates is used to guarantee the security of assets and specific smart contracts using Plasma predicates, while arbitrary smart contracts are secured by a Proof-of-Stake network, with validators staking Matic tokens on Ethereum. Scaling solutions should have a simple end user experience. Workflows Mint, transfer, subscribe. We believe this is an acceptable tradeoff to have. All three Reddit's contracts were deployed on Matic. Data availability on the Matic sidechains are based on 2/3+1 BFT majority on the Matic Heimdall chain by validators who stake Matic tokens on the staking smart contracts on Ethereum, and are incentivized to do so. Running a watcher node will have the following requirements as that of a sentry node – https://docs.matic.today/docs/validate/technical-requirements/. Most wallets such as Portis, Torus, Fortmatic, Metamask and others already have support for the Matic mainnet sidechain. In short, it allows anyone to create scalable DApps while ensuring a superior user experience in a secure and decentralized manner. The Plasma framework with predicates is used to guarantee the security of assets and specific smart contracts using Plasma predicates – this allows trustless exit from Matic sidechains in the worst case scenario if the Matic sidechain goes down. Fully open-source solutions are strongly preferred, All code is open source – https://github.com/maticnetwork, We are excited to see what’s in store! We are happy to say we meet all of the Reddit challenge requirements. Free to use for end users (no gas fees, or fixed/minimal fees that Reddit can pay on their behalf). Whitepaper, team, website, code repo activity and social media presence. There is an issue of. The Reddit PoC consisting of 3,000,000 transactions (1mn minting, 1mn transfers, 1m subscriptions and burns) cost around ~US$ 3.5 to run. Decentralization. Smart contracts that powers the PoS (proof-of-stake) based bridge mechanism for Matic Network ethereum blockchain web3 matic Solidity GPL-3.0 25 32 2 2 Updated Mar 9, 2021. matic-docs Matic documentations CSS 30 8 0 4 Updated Mar 9, 2021. bor Official repository for the Matic Blockchain Matic Network brings massive scale to Ethereum using an adapted version of Plasma with PoS based side chains. For those who are new to the project, Matic Network is a blockchain application platform that provides developers with the ability to deploy applications with faster and cheaper transactions while still maintaining a high level of security, by utilizing a novel combination of hybrid Proof-of-Stake and Plasma-enabled sidechains. Click here to view Analytics for the three contracts (Subreddit points, Subscriptions and Distributions) on Tenderly dashboard. The withdrawal period for our Plasma MoreVP is 7 days currently. Matic Network is a blockchain agnostic Layer-2 scaling solution for Ethereum.The market cap is $1,595,165,632 and the 24h volume is $1,035,430,758. Use Git or checkout with SVN using the web URL. -today's crypto of the day is matic network matic, and it's current price is $0.0153. Home » Technical » Matic goes to the Great Reddit Scaling Bake-Off, July 28, 2020 We think Matic is the most apt solution for the scaling requirements of Reddit, keeping in mind it’s current and future needs. Onward to a…, Security via Plasma predicates on Ethereum: Reliable exits to Ethereum (Proof-of-Stake based decentralized multi-operator Plasma construction which mitigates mass exit occurrence), Extremely high scalability with each sidechain (multiple sidechains in future, hence suitable for the scale of Reddit), Ability to add custom smart contract features (via Ethereum Plasma predicates) for future product innovation, A live proof-of-concept which demonstrates the scale required for the bakeoff and future requirements, 1,000,000 point claims (minting & distributing points), 1,000,000 subscriptions and 1,000,000 burns. The PoC touches upon various aspects of the solution required – scalability that will need to meet Reddit’s requirements over time (more sub-reddits using Community Points), faster transaction times, inexpensive minting of Community Points, decentralization, accessible developer tooling, use of meta-transactions to pay for gas on behalf of users, open source code, extensibility, ability to exit back to Ethereum, if needed and more. Workflows Mint, transfer, subscribe. Following scripts can be tested for a single user flow, The contracts require signatures from certain accounts throughout the flow (requesting claims to mint new tokens, swapping exit nft for erc20 on Ethereum chain (while withdrawing, read: What is ExitNFT?)). Any one else can also run the watcher node on behalf of Reddit users including the Matic foundation, if required. If nothing happens, download Xcode and try again. i will eventually catch up and post my opinions on all of them. Users shouldn’t have to maintain any extra state/proofs, regularly monitor activity, keep track of extra keys, or sign anything other than their normal transactions. The user can either perform FastExit or perform simple Exit to get their tokens back on Main chain. Boo yah , Website | GitHub | Twitter | Telegram | Reddit | YouTube, Follow Twitter & Join Telegram Community | Privacy Policy. Matic Network, Ethereum, Staking Mainnet, India With Sandeep Nailwal Cryptocurrency Market & Coin Exchange report, prediction for the future: You'll find the Matic Network Price prediction below. This will allow trading of tokens to happen directly on Matic. which contain a network of “child chains” (also known as side chains). Matic Network Mainnet release (alpha) core Allow Deposits and withdrawals of Ethereum-based assets using the Matic Plasma implementation in alpha core Plasma - Cross-asset swaps between ERC721-ERC20, ERC20-ERC20, ERC721-ERC721) on testnet protocol A detailed explanation of the demo is given here: The following contracts have been deployed on, User requests a claim from Owner account, and submits the claim to the distributions contract which then (internally) calls Subreddit Points contract to. due to some personal issues, i am temporarily behind on follow up posts. The core design of Plasma contains a series of contracts that run on top of some public root chains (e.g. Run: Switch over to reddit_benchmark branch to test configure and run performance tests on the deployed contracts. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. Matic Network integration for the MegaCryptoPolis decentralized city will happen this year — we can’t promise an exact timeframe, but aiming for Autumn 2020. This provides partial finality. Matic Network is a completely new blockchain technology that aims to create a simple decentralized ecosystem to provide instant money transfers at low prices. The PoC used a few addresses only for the purpose of the demo, and the total throughput with millions of user addresses can go up to 7200 TPS per sidechain. Using the Matic Web Wallet, you can deposit MATIC & ETH to the Matic mainnet from Ethereum, make near-instant, low-cost transactions on Matic, and withdraw funds back to Ethereum. With certain variations, the price hit a high of $0.03 by the end of May and further declined to $0.01 by early June. Note: You need to have your funds on the main Ethereum network in order to delegate your tokens. Scaling solutions should be extensible and allow third parties to build on top of it, APIs should be well documented and stable, Documentation should be clear and complete, Third-party permissionless integrations should be possible & straightforward.