Matic Network — Project Updates #4 (Technical & Community)

7 min read

Project updates as of July 4th, 2019

It’s been an eventful June, to say the least. Our team traveled all across the world this past month to attend conferences & meetups with various friends and partners. We’ve established a new slew of enterprise-grade partnerships with some groundbreaking projects. But most importantly, we launched our α-Mainnet. 

Here’s a break down of everything that happened this past month.

Technical Updates:

The α-Mainnet Launch

On June 5th, the Matic team announced the launching of its α-Mainnet for the latter-end of June as the team finalized the testing of migration scripts, validator nodes, and the latest smart contracts.

In the process of ironing out the kinks before the Mainnet release, the Matic team proposed a Mainnet release in 3 release phases:

  • Final Testnet — (Deployed on 3rd June) Developer documentation here
  • α-Mainnet — Nicknamed तपस (Tapas) (Q2 2019)
  • Beta Mainnet v0.1 — Nicknamed आरंभ (Aarambh) (Q3 2019)

Goals for the α-Mainnet

  • To provide early access to a variety of applications, which need fast and low-cost ERC20 and ERC721 transfers, to test their migration and DApp experience on Matic Network
  • To release the technical documentation in the wild and ensure its reliability via developer testing
  • Subject the Matic Network contracts and components to a third-party security audit
  • To launch a bug-bounty program to battle-harden the network before moving it towards beta
  • Additionally, acid test the security of the smart contracts via a compelling bug bounty program
  • Detect and resolve any bugs found in the third-party security audits
  • Inviting testers to try out the Matic mobile and web wallets and incorporate their feedback
  • To provide validator nodes to external validators to simplify node setup and processes

What to expect from the α-Mainnet:

  • Transfer assets to & from the Ethereum network to the Matic side-chains with Plasma Guarantees
  • Low cost and near-instant transfers on the Matic side-chains
  • A fully-functional mobile and web wallet to interact with the side-chain and ETH chain
  • Experience smooth asset exits from the sidechains
  • Smart contract transactions on Matic sidechains (only with Proof-of-Stake guarantees and NOT Plasma guarantees)
  • Testing the Matic validator node setup experience for validators

Going into the launch of our α-Mainnet, Matic Network engaged with the decentralized community to onboard developers onto Matic’s platform and showcase the Network’s scalable, secure, and instant transactions on side chains. 

On Saturday, June 29th, Matic Network officially launched its α-Mainnet. We’ve already released Developer Details for those looking to build on the α-Mainnet.

Key things Matic wants to do:

  • Solve scalability by providing Layer-2 solutions
  • Application platform for DApp developers on Matic (Like Stripe for DApps/payments)
  • Provide assets interoperability for DeFi use cases and other DApps
  • Better UX/UI for mass adoption while having better security and scalability

Integrations & Partnership

Only until recently, accessing data via oracles in a smart contract on Matic needed trusted centralized oracle implementations. Enter our partnership with Chainlink on June 12th, which enables real-world data for any smart contracts running on Matic. As part of the collaboration, Chainlink plans to create an adaptor for the Matic Network to make a large amount of off-chain data feeds, various APIs, and traditional payment services available to all contracts on the Matic network.

“DApp developers on Matic want easy and dev-friendly access to oracles,” explains Anurag Arjun, co-founder of Matic, “which can enable applications to easily integrate various real-world data points in a truly decentralised manner. Matic is working to enable an extremely rich and easy developer interface for blockchain programmers, and this collaboration is one step further in that direction. We are extremely proud to be working with Chainlink to integrate their technology on our network and help enable provably secure access to external data.”

On June 11th, Fabrx introduced Matic Network to its Fabrx Adaptor Suite. Matic Network is the newest addition to Fabrx’s growing library of Web 3.0 Adaptors and is the first layer that gives anyone the ability to plug into a single API to access Web 3.0 applications in a 1:1 manner.


On June 20th, BetProtocol announced its partnership with Matic. Matic will empower betting dApp operators on BetProtocol to launch secure and trustless betting platforms. The main aim of BetProtocol is to enable entrepreneurs and developers to create and deploy betting platforms within minutes. The vision is to create a secure, scalable, and regulated platform that requires no prior coding knowledge to deploy DApps. 

With Matic, BetProtocol can port essential functions to Matic’s Plasma PoS sidechains for faster block times and super-low cost transactions. These are key factors to facilitate a streamlined user experience for end users. Both BetProtocol & Matic expect to launch a network of betting DApps deployed through BetProtocol’s Shopify-like solution that will ultimately operate on top of Matic’s Plasma sidechains. To create a great user experience and requisite features, BetProtocol is committed to working with Matic to build a healthy and prosperous betting ecosystem. 


Community Updates:

Features & Mentions

On June 24th, Ethereum World News was gracious enough to cover Matic Network and the emerging blockchain development space in India. 

“India is one of the most important destinations in the crypto space.” -Adrian Mathieu


One of Matic Network’s main use cases for its Plasma scalability frame work is decentralized finance. DDEX’s decentralized exchange embodies many of the shared goals of Matic in the DeFi space.

Decentralized exchanges are a key component to the overall DeFi ecosystem currently being built to transform old financial products into trustless and transparent protocols that run without intermediaries. The DeFi movement carries far-reaching disruptive potential for positive change in the way of increased financial freedom and opportunities, and DDEX shares our vision in working to make this a reality. Learn more about $MATIC trading pair on DDEX at: https://ddex.io/trade/MATIC-WETH


On June 28th, Matic announced the listing of $MATIC on BitMax.io under the trading pairs of MATIC/USDT and MATIC/BTC. BitMax is an industry-leading digital asset exchange providing a broad range of products and services to global clients, and we’re excited to be welcomed onto their platform!


Hackathons & Events

Binance Hosts Meetups in Hyderabad & Moscow, Russia

The Matic team kicked June off with a bang. On June 3rd, VP of Operations & Marketing, Siddharth Jain, interacted with the local blockchain community at the Binance Hyderabad, India meet up. 

On June 4th, Siddharth made his way to Moscow, Russia, for another Binance meetup. At that meetup, Siddharth was able to speak on a panel to share insights on Matic’s scalability solutions as a Layer-2 solution, as well as upcoming milestones, progress, and objectives with the community. 


Scaling ETH

Matic CEO and Co-founder, Jaynti Kanani, spoke alongside Vitalik Buterin, the Plasma Group, and other Ethereum thought leaders at Scaling ETH on June 6th. During his keynote, Jaynti elaborated on the efficacies of plasma cashflow & generalized plasma predicates.


Matic at India DApp Fest 2019

In Bengaluru, Matic Network had the opportunity to sponsor the India Dapp Fest Conference 2019 from June 11th-15th (which included Hack@IDF Hackathon from June 11th-13th) comprised of developers, technologists, cypherpunks, coders, crypto-economists, & designers. The conference served as an opportunity for the global blockchain community to familiarize themselves with Matic Network, emerging trends from enterprise executives, thought leaders, and the future of India’s role in the decentralized application (DApp) economy.

Sandeep sharing insights about the inevitable rise of India in the dapp era. 

The India Dapp Fest Conference hosted panels and keynotes from multiple founders, executives, engineers from established organizations such as IBM, Mahindra Group, Ripple, Draper University, Pricewaterhouse Coopers among many others to provide their insights on emerging trends of the blockchain space (both globally and in India.) In general, many of the talks revolved around the notion of India’s growing role as an innovator in the decentralized application space. With so many developers building early prototypes on top of the Matic Network at the Hack@IDF Hackathon, the global community remains poised to witness the full-fledged applications that will be deployed on Matic Network in the future.


Matic at EmergTech Mumbai Meetup

On June 22nd, VP of Marketing & Strategy, Chandresh Aharwar, spoke at the EmergTech Mumbai event, hosted by the Inblox Network. Inblox is a pioneering organization that hosts workshops, seminars, and meetups in Delhi NCR, Mumbai, and Bengaluru to aid the development of enthusiasts in the field of blockchain development, AI, Robotics, and Machine Learning.

The day-long event was a great opportunity to onboard Indian developers onto the Matic Network. A master class, hosted by Inblox, taught developers how to deploy smart contracts onto Matic Network.


Giveaway organized in celebration of on-boarding CryptoControl

On June 23rd, Matic Network concluded its giveaway event with decentralized news aggregate and trading insight platform, CryptoControl.io. $25 worth of $MATIC tokens were awarded to 20 lucky participants!

CryptoControl performs up to 5000 transactions per day, and by migrating onto Matic, will save up tot $1,000 USD in transaction fees on a daily basis. With a user base of over 85,000 users, CryptoControl.io will use Matic Network for all of its blockchain transactions moving forward.


Introducing Matic Mitra

In Sanskrit, Mitra (मित्र) means “friend.” We’re searching the globe for Mitra who will help the Matic team with its mission to further partnerships worldwide. A Mitra will primarily be involved with engaging with the developer community, educating the public and enterprises, furthering the existing network of Matic connections, organizing meetups, increasing social and mainstream media presence, and providing the Matic team with feedback on additional engagement initiatives.

We encourage anyone with great ideas and unique skill sets to apply! We’ll be reaching out to our first round of Mitra with more information on steps forward, rewards & incentives, and specific responsibilities.


Interviews & AMAs

A Pitstop at E3 2019, the World’s Largest Gaming Conference

On June 13th, Matic CPO & Co-founder, Anurag Arjun, sat down with Austin Davis & Matt Rogers at E3 2019, the world’s largest gaming conference in sunny Los Angeles, California. Not only a great opportunity for Anurag to elaborate how Decentraland was building its virtual reality economy on top of Matic (among other decentralized gaming applications), the interview (which took place at E3’s first-ever Blockchain Stage) was indicative of the growing influence of blockchain technology in the gaming industry.

Check out the interview to hear more of Anurag’s insights, and how a Ready Player One-type world can only be built on top of blockchain!


Matic COO – Sandeep Nailwal interviewed by DGA Summit Co-Founder – Justin Wu

Matic COO, Sandeep Nailwal, also had a chance to speak with Justin Wu, founder of the DGA (Digital Games + Assets) Summit and organizer of the Blockchain Stage at E3 2019.

In his off-the-cuff interview, Justin dives deeper into the future of blockchain gaming with Sandeep, and how Matic Network’s Layer-2 scaling solutions can help facilitate high volume in-game transactions for platforms like Decentraland.


Binance: Matic & Chainbreakers AMA

On June 21st, Matic COO Sandeep Nailwal joined Chainbreakers Project Lead, Rene Schmidt, for a Binance AMA series. Lively conversations were had on Binance’s English Telegram channel as both Matic and Chainbreakers gave away $1,000 worth of $MATIC and over 100 NFTs on Chainbreaker’s platform, worth over $230.Pictures from the Binance meetup in Moscow.


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