As cryptocurrencies continue to spread rapidly around the world, new players are rapidly stepping onto the field. Many questions about the Matic coin, which is expressed as the money of the future or as an investment tool, are sought for answers.
Matic Network (MATIC) is a Layer 2 Project supported by Binance and Coinbase. The project, which allows Ethereum developers to scale and develop their decentralized applications for large-scale uses, has attracted serious attention with its incredible rise in 2019.
Based on the Ethereum network, the project significantly increases the number of transactions per second using the POS (proof-of-stake) and Plasma side networks. In this article, What is Matic Network (MATIC) and Matic coin and how can buy Matic Coin? we will try to give the answers to their questions.
What is The Matic Network?
Rather than updating the underlying blockchain network layer, Matic Network (MATIC) aims to scale the second layer. One of the Matic network’s primary objectives is to reduce the complexity of the processes that communicate on the network.
One of the aims of Matic Network (MATIC) when it first launched was to promote interaction between users, decentralized financial applications, and ecosystems. Matic Network was created as a decentralized platform in a customized version of the Plasma Framework for this process.
Plasma is a solution that allows the Ethereum network to scale significantly. This approach facilitates the global development of decentralized financial applications on the underlying blockchain.
Matic Network has added a side chain and proof of Stake (PoS) validators to this system to increase protection.
The developer team defines the Matic coin as one of the quickest and most capable cryptocurrencies.
Polygon (MATIC) key features
Scalability: fast, cost-effective and secure transactions on Matic side chains achieved as the first compatible Layer 1 base chain in Ethereum
High efficiency: up to 10,000 TPS achieved in a single side chain in the internal testing network; multiple chains will be added for horizontal scaling
User experience: improved seamless UX and developer abstraction from Ethereum core network to matic network chain; native mobile apps and SDK with WalletConnect support
Security: Matic chain operators, stakeholders in the PoS system are responsible for the security of the network.
Public side chains: Matic side chains are public by nature (compared to individual DApp chains), are disallowed, and can support multiple protocols.
What Are The Advantages Of Matic Network (MATIC)?
While decentralized applications have made significant progress, current blockchain systems are not capable of scaling to meet the needs of established users. Matic Network (Matic) currently strives to avoid sluggish acceptance transactions and excessive transaction fees.
It intends to build a decentralized network based on a faster and more cost-effective Plasma Framework that embraces certainty on the main chain. It intends to use Proof of Stake checkpoints on the Ethereum network to accelerate. This enables you to conduct a wide range of operations on a single Matic Network chain. With the establishment of new chains in the future, millions of transactions will be completed faster.
How To Buy Matic Network Coin
To buy a Matic Coin, you first need to throw a TL balance on the stock market or buy a cryptocurrency that can be used instead. To do this, first go to the Binance home page. Then switch to the “Credit or Debit Card” tab from the “buy crypto” option on the top left. In the drop-down tab, select how much you want to trade with try and Mark Bitcoin, i.e. BTC, from the Coin section. After receiving USDT, preview the “Buy-Sell” option in the top left again click on the “classic” tab.
In the drop-down section, select the BTC tab at the top right, type MATIC in the search button, and select the Matic /BTC pair that opens at the bottom.Then go to the “get MATIC” tab in the middle and enter the amount you want to get. Enter the desired amount and complete the Matic Coin import process by confirming the transaction.