Etherium News

Meet the Startup Poised to Become the “Base Protocol” of India

 Meet the Startup Poised to Become the “Base Protocol” of India
Meet the Startup Poised to Become the “Base Protocol” of India

Every major crypto nation has its own , it seems. China’s is NEO, while India’s is tipped to be Matic Network, a project that has emerged from nowhere to catapult into the top 100 by market cap, aided by a string of partnerships and a Binance IEO. Unlike NEO, Matic is not an aspiring Ethereum killer, it should be noted. Rather, it is a scaling solution that uses sidechains, based on a modified version of Plasma. It works with, not against, Ethereum.

Decentralized apps have a lot going for them, but running at speed on the congested Ethereum network is not one of them. The number of Ethereum scaling solutions that have been proposed to combat this problem almost rivals the number of ICOs that have launched on Ethereum. Only a handful of proposals have garnered enough acclaim and momentum to be taken seriously however: Raiden Network, Plasma, various sharding implementations – and now Matic.

From obscurity to ubiquity

In less than three months, Matic has captured the attention of the crypto community, from traders to developers, inked partnerships with the likes of Chainlink, Ankr, and Decentraland, and completed a slew of integrations including the DAI stablecoin, which is now running on the network, as well as Plasma implementations for PoS sidechains. It’s a prolific workrate for a nascent crypto network, made all the more impressive given the team’s origins. Matic boasts a wholly Indian team. While the skill set of the tech-savvy nation has never been in dispute, politics has impinged upon the industry, impacting India’s vast well of homegrown talent, and forcing some crypto projects to relocate. This hype was solidified with Coinbase’s announcement it is looking into listing Matic in the near future.

This article appeared first on Cryptovest

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

View original post

Show More


Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button