In the crypto world, many currencies and crypto networks have launched. But today we are going to discuss the newly launched crypto token MATIC. Everyone can purchase and sell this coin on different platforms. But before trading in this token we should need to know some basic details about this network.
Here in this article, I will try to answer your basic questions about this token.
So Let’s Move On.
What is MATIC Network?
In simple words, MATIC Network is a scaling solution and its main aim is to address the scalability issues seen in Ethereum. Ethereum network is in high demand on different popular decentralized platforms such as Decentraland, CryptoKitties, Gods Unchained, and much more. Decentralized finance (DeFi) apps such as Compound, Maker, SNX are also using the Ethereum Network.
The problem with Ethereum Network is it can only process on average 14 transactions per second at a time. And the apps which are using this network have to compete for the limited resources that Ethereum provides.
Here Matic networks provide the solution to this problem by introducing a second layer scaling solution. MATIC provides a solution by providing these computations and transactions to the side chains (Called Off-Chain computation). The second layer chain is assured by the Plasma framework and Proof of Stake (PoS) by the MATIC validators.
MATIC Network Architecture
MATIC network solves the problem by creating a decentralized platform using an adapted version of the Plasma framework. This framework provides a solution for faster and extremely low-cost transactions as compared to Ethereum transactions.
MATIC Network system ensures its liveliness by using PoS checkpoints which are pushed to the Ethereum mainchain. It enables a single sidechain to theoretically achieve 2 16 transactions per block.
Main Features Of MATIC:
- High Throughput
- User Experience
- Asset Interoperability
- One-Stop DeFi Platform
What is the MATIC token?
MATIC token is simply a virtual currency that is issued on the MATIC Network. This token can be used for validators to participate in the network via Proof of Stake (PoS) in order to secure the chain. On the MATIC network, the transaction fees are also paid by using these tokens.
What is the Price of a MATIC token?
For the first time when this token was launched on Binance then the price of this token was $0.00263 USD. Today we can see many fluctuations in the price of this token.
Where can we Buy MATIC token?
You can use MATIC token for trade-in crypto to earn a huge profit. MATIC token is available on Zebpay, Binance, Yobit, and many other platforms. In India, you can easily buy this token from the Zebpay app.
I hope now all your basic doubts about MATIC token and Network have cleared in this article. If you have any questions and suggestions you can ask in the comments below.