Matic Network (MATIC), a layer-2 scaling solution for the Ethereum network, is gearing up for the official launch of its mainnet this week.
According to the recent announcement, the full roll-out of the mainnet will be conducted over three stages that will introduce an increasing number of network nodes, with the first step beginning on Friday and lasting until the end of May.
Initially, Matic plans to have only select validators on board, including dapp partners who participated in the testnet. This participation will progress until the network is fully ready for public delegation.
Once up and running, investors will be able to stake their MATIC with their choice of validator node in return for a portion of the validation staking rewards.
“The Matic ERC20 token lives on Ethereum and this will continue being the case after mainnet launch,” states the Matic Network team. “The token is not inflationary and a fixed percentage of the token supply is reserved for staking rewards for the first 5 years.”
According to the team, the mainnet is designed with the following features:
- Implementation of a Proof-of-Stake protocol
- EVM sidechain based on the Proof-of-Stake implementation
- Plasma sidechain support with restricted contracts on the same EVM sidechain (account-based Plasma implementation)
- Division of validation and block production into 2 layers
- Periodic checkpointing of sidechain state to Ethereum
- Staking management with MATIC ERC20 tokens on Ethereum
- Liquid delegation managed on Ethereum
- Novel Bor sidechain consensus implementation
- Usage of existing, battle-tested tools for modules that didn’t need reinventing (e.g. peer-to-peer gossiping, Tendermint consensus)
- Block producer committee selection via a pluggable randomization algorithm (to ensure future upgradeability with newer randomization techniques)
- Native mechanism for interoperability with other chains (e.g. sidechannel implementation for communication between Matic and Ethereum)
- Ability to integrate newer and yet unknown types of scaling approaches into the Proof-of-Stake layer
MATIC is up over 60% in the last month and has seen a spike investor interest since the mainnet launch announcement, now up over 13% on the day.
More: Matic Network Mainnet is Going Live! Announcing the Launch Sequence
Related: Binance.US will list Matic once their mainnet goes live
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.
