Matic Network is a software that uses DPoS sidechains to improve the scalability and speed of payments in Ethereum. It goes along with the trend of transferring, exchanging, and converting digital assets fast. MNO is addressing scalability and usability problems without sacrificing decentralisation, leverage of the developer community and ecosystem that already exist.
This chart for MNO shows the dynamics of Matic Network tokens rate since the year of its creation. The launch of the Matic Network ecosystem was in the spring of 2019 after an IEO on Binance.
MNO’s opening token sale was in the form of a lottery. The overall amount of Matic units is 10,000,000,000 coins. MNO’s investors received 19% of this amount.
The Matic team recommends using MetaMask as the MNO wallet. It is a good choice indeed, available as a browser extension or as a mobile app.
Most wallets that support ERC-20 are safe options for MNO. Some examples of those are:
The founder of the project is Janty Kanani. He serves as the company’s CEO and plays a role in the development of WalletConnect, Plasma and Web3.
The Matic Network is a relatively new project. Many crypto enthusiasts wonder about MNO - what is it that attracts the attention of such a broad audience? The main advantages of the MNO crypto platform are:
In line with its risk management strategy, MATIC plans to have sufficient reserves on hand at all times to fund its operating expenses for at least 12 months. The rest of the funds held in crypto will be stored in cold wallets with multisignal support.
The MNO cryptoasset is contributing to the evolution of the ETH blockchain by implementing Plasma MVP (Minimum Viable Plasma). The Matic team uses the WalletConnect protocol and the popular ETH news messaging mechanism called Dagger.
Besides, Matic also provides payment API / SDK for DApps. Thus, MNO’s users can instantly execute financial transactions with ETH cryptocurrency, ERC -20 tokens, and other virtual coins.
The primary market for exchanging MNO tokens is the Binance portal. It is where 75% of all transactions with this asset take place. Binance supports the following crypto exchange pairs:
You cannot mine MATIC cryptocurrency with ASIC or GPU. However, every user can become a validator. This means you can become an owner of a node who takes care of verifying events on the blockchain. One needs to run a full node on a PC or remote server to get rewarded for processing transactions and generating blocks. Validators must block a certain amount of Matic coins as a contribution in the system to ensure their reliability.
If being a validator for MNO is what you want, Matic Network hosts an auction at regular intervals to select users for this role. Selected nodes play the roles of block producers and verifiers. Those unable to run a full node can help to grow the network as a delegator. Delegators send a part of their funds to one of the validators and receive a share of the reward. The minimum number of tokens required for delegation is 1 MATIC, which means that any MNO token holder can become a delegator.
The issue of increasing network scalability is critical both for ETH and for other cryptosystems. Thus, Matic has a large market full of potential clients. Most analysts forecast positive dynamics for Matic’s project in the upcoming decade. Follow MNO live news on our blog to know everything about its strategy and estimate its investment potential.
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