For our third AMA of the week, we decided to connect with the Official Matic Network Turkish Community group. Turkey has become one of the most influentially developed economies with one of the largest crypto exposure percentages in the world.
The Community AMA sessions are an extension of the Matic Outreach Program which aims to allow communities all across the globe to ask any questions they have regarding the recent market movements, project updates, or anything in relation to our current progress.
Head of Marketing, Chandresh Aharwar, connected with the Turkish community via Telegram to answer questions regarding various topics in the Matic Network ecosystem.
Let’s take a dive into the recap of our Turkish AMA.
Telegram Community AMA Session
Matic Network’s Turkish community had lots of insightful questions prepared for the AMA. Check out some highlights from the Turkey community.
@onur42: What do you think will be the next killer DApp area for blockchain? Gaming, DeFi, or something else?
Judging by the current and historic trends in Dapp usage and development, we believe that gaming, in particular, is set to be a huge onboarding ramp into the blockchain space – & is currently acting as the ‘proof of concept’ Dapp type for the industry.
A large percentage of user volume of the current overall Dapp ecosystem comes from gaming and gambling.
This is a trend that has persisted for some time.
Gaming has established itself as the daddy of early Dapps, and we don’t expect this to change any time soon. Blockchain-based games can offer a world of new possibilities and can facilitate a truly next-gen gaming experience.
With scaling solutions like Matic they can become the high-performance Dapps required for mass adoption. We see envision games being a large segment of Matic Network’s ecosystem.
However, speaking on more recent trends and Matic’s other focuses, we are extremely excited to be witnessing the birth of Decentralized Finance (DeFi)
The DeFi ecosystem is becoming stronger consistently and holds the potential to become one of the most beneficial applications of blockchain in terms of providing a far greater level of financial freedom and autonomy to billions of people globally.
The fast settlement times, elimination of intermediaries, increased options of collateralization and interoperability provided by blockchains will enable a slew of custom-tailored financial products to be developed for a countless number of financial use cases, many of which are yet to be invented.
That said, blockchain developers have the world as their oyster at this point – there is a limitless array of possibilities.
The blockchain space is so young and there’s so much innovation possible that there will likely be many popular Dapp types in the near future which we can’t even imagine today.
That’s why Matic Network is built to be a general-purpose platform, able to house a limitless array of Dapp types on our infrastructure.
Q: I understand Matic’s final mainnet launch is due in Q1 2020. What will the final mainnet look like in terms of technical advancements, and how significant will this be for Matic Network?
The final mainnet launch is due for launch this quarter and will essentially signal the implementation of the final broad version of our infrastructure, with all capabilities enabled.
These will include Plasma Fast Exit services on mainnet, transaction relay pool (perform transactions without ETH) and generic smart contract support (with Plasma guarantees).
By that point, Matic Network will be equipped to offer full functionality to the Dapps on our network with a full range of features.
Thus, we can expect the exponential Dapp adoption of Matic to increase as we approach and surpass the launch of the full Mainnet.
We are seeing more & more interest in Dapp adoption of our platform as we get closer to our final mainnet, and we expect this to continue to increase as the network becomes more stable and feature-rich.
Our goal is to serve as more than simply a scaling solution, but as an entire global collaborative ecosystem of Dapps running on Matic Network which will become stronger together as the ecosystem expands.
A big step in this journey will be the launch of our final mainnet.
@zaferce: What role does UX and developer abstraction assume in the Matic network?
What does it mean for Matic chain operators to work as a staker in the PoS system?
Why do Ropsten and Kovan networks provide advantages for testing scalability?
I personally believe that UI/UX plays a very important role in the overall growth & adoption of the product.
Currently, in the crypto industry, we feel this is the missing piece & that is why it is one of the parts we are focusing on.
We also recently hired a behavioral scientist to work on the UI/UX part for us, because we want this part to be one of the best in the complete crypto industry & we should match the traditional business.
To answer the second part, there are 2 parts to stakers.
1st is validators which will run the complete blockchain by verifying the transactions & second is delegators which can delegate their tokens to validators & earn the staking rewards.
@schreIN: 1. What are the main priorities of the $ MATIC Network? Are there any usage cases that we will see in the future?
2. MATIC currently is focused on what countries including Turkey? What are your strategies for accessing these markets?
Part 1- We are focusing on the Adoption part currently heavily. That’s important because we believe that blockchain without adoption will not serve any purpose. That’s the main reason our BD team is working day in & out to bring more & more dapps to Matic Network & we already have 40+ Dapps building on Matic.
Part 2- We are planning to expand globally & Turkey caught my eye because of the huge involvement of the community. We believe that Turkish community has huge potential & over the period of time turkey will be one of the prime markets in crypto space.
That’s why we wanted to reach out to more audiences & started the Official Matic Turkey community.
@CryptoCoin_hodler: In 2019, We can say that Matic is a very successful & Trending Project in the 2019 Year! So, What are the plans for Marketing & developments of Matic in this 2020 Year?
As an Investor of Matic, I’m always aware of Matic’s every News. But recently Many Friends told me that Matic Team Dumped their coins on Market. Is it True? What’s your opinion on this?
We have very clearly specified with all proof that the recent price fall was the play by a few larger whales. the FUD created by Twitter account has multiple times apologized for the wrong message already.
It was also great to see so many projects talking in favor of Matic & believing in us. It really boosted our confidence.
MaticOutreach program is also launched to reach out to the larger audience & communicate the real part.
We will keep #BUIDLing
@serkangenc: You are being compared to coins like XLM-XRP that entered the altcoin market a long time ago. What do you think about it? is this a measure of success for you? Where do you see yourself in the future?
I remember a Forbes article headline a few days back – ” Bitcoin competitor… “
We never claimed that but it’s good to see people seeing so much potential in us. We always try to deliver the best for our community, investors & everyone associated with Matic.
It’s a great feeling when you are recognized for your hard work. We will keep on shipping on all the fronts & hopefully will achieve what everyone is expecting with our mainnet launch.
@cryptowampier : Dapps can be seen as an accelerator for the blockchain ecosystem. Some say that dapps are just applications under blockchains and these companies should have their own blockchains.
My question is, how can MATIC help to overcome this prejudice? Do you have any different features than the other blockchain providers?
The best part about Matic is that we derive security from the most adopted, well tested & secure blockchain in the space – Ethereum.
There could be millions of Dapps in the coming few years & obviously each one of them does not require their own blockchain.
Matic can theoretically do 64K transactions per side chain & we can scale to any number with n number of sidechains.
Designing & running a blockchain is not an easy task & every dapp doesn’t need to do that for sure.
Ethereum has more than 2K Dapps running on it currently I guess.
Matic can host thousands of dapps very easily.
@AKIN_C61: Thanks for the AMA. Turkey is one of the largest customers of Binance. I wonder if you knew this? There is an article of ING bank that claims 18% of Turkish adults own cryptocurrency. Considering all this do you have a plan for Turkish market?
Thanks for the information. I have heard that 1 out of 4 people in Turkey is in crypto (around 25%).
Yes. We do understand the importance of the Turkish community & have many followers from turkey in our global community also. One of the reasons, we have started Matic Official Turkey Community.
We have very big plans for Turkey Market. I am planning to visit Turkey Blockchain Week also & I am personally very bullish on Turkish community.
@daydream005: Why should I invest in Matic?
Disclaimer – My Personal opinion.
Investing in a project is generally based on multiple factors. I personally do a lot of research before investing any money for any project.
Pointers important for me
- Strong Tech
- Community First Approach
- Investor Friendly
- Hard-working team
- Clear vision
- Realistic Roadmap
- Future-ready product
You can evaluate the project/product on these parameters & make your decision. In my opinion, Matic qualifies on all these parameters & I would personally invest in Project qualifying these criteria.
@CryptoXero: Who thought it was a good idea to see the Matic token margin in Binance Exchange?
Well, to be honest, crypto is a decentralized space & we don’t have any control over who can list us & who can not.
There are many exchanges listing us without our consent & there is nothing wrong with it.
Crypto space is still in its early stage considering the market cap of around $210 Billion currently & this kind of hurdles are observed in every developing space.
Margin brings more liquidity & more volume is good for the trading of any coin.
Many exchanges like FTX, CoinDCX have offered Margin on Matic, without our consent.
It was not our decision to enable Margin on Matic, but we didn’t see any negatives of that initially.
@Devil_Crypto: DApp of Matic built on a base platform like Ethereum, so If Ethereum’s blockchain fails then, Is there any effect of that on Matic? Or do it survive in the future without Ethereum?
Matic is Blockchain Agnostic. So, yes.
We can go ahead & deploy our solution on any layer 1 blockchain if required in Future including Bitcoin also 🙂
@yoneticiarya: In previous weeks, Matic had overcome a huge FUD and you did it with success. Do you have future plans to protect your investors for the possible next FUDs?
Yes, we do have plans & we believe educating our community is the most important part.
That’s the main reason, we have started with Matic Outreach program, to reach out to the last member also for clearing the confusion.
We have already released a complete explanation regarding that & will keep on taking all the efforts from our end so that everyone is aware of what happened.
And one thing is for sure, we are now more determined & focused on achieving our goals.
We will make it happen with all the support from community 🙂
Announcing the AMA Winners
Congratulations to the 10 total winners who will each receive $10 in $MATIC tokens!
Community AMA (Telegram winners chosen by Matic team):
We would like to thank all those who attended our Turkish Community AMA! We are always excited to be able to connect with the community from across the globe. Turkey is rapidly growing in the adoption of cryptocurrency and we are thrilled to have a community dedicated towards them.
If you haven’t already, you can join our Official Matic Network Turkey Community group here: https://t.me/maticnetwork_turkish
Stay up to date with our next upcoming AMA! We look forward to connecting with you next.