Matic, which supports secure, Ethereum verified instant crypto transactions, announces major updates

Matic, a platform designed to enable secure, scalable and instant transactions verified by the Ethereum (ETH) blockchain network, has announced new project updates. The Matic developers claim that their project has made steady progress since its inception Binance Launchpad (the exchange’s IEO platform) in 2019.

The Matic team noted:

“Our developer ecosystem is growing rapidly and Matic is quickly becoming the point of contact for (decentralized applications) dApps of all kinds. Phase 2 of our deployment is firmly in progress and we are deeply rooted in the DeFi ecosystem (decentralized financing). “

The Matic project developers say they have worked in support of various DeFi solutions such as @TheMahaDAO which is allegedly India’s first distributed autonomous organization focused on promoting blockchain innovation in the country.

Matic’s native MATIC coin was recently listed on the Kyber network, which serves as an on-chain liquidity protocol and enables “decentralized” token swaps to be integrated into various applications. The Matic team also confirmed that they are currently working on the introduction of phase 2.

They have also welcomed new (transaction) validators on the Blockchain or Distributed Ledger Tech (DLT) network, including:

• @TorusLabs (enables “one-click registrations for dApps”);
• @InfosysConsltng (a global consultant who enables companies to “redefine their future and create sustainable value through the use of disruptive technologies”);
• @BCW_llc (a strategy consulting firm);
• @decentralgames (developer of non-custody virtual casinos); and
• @Node_Ateam (a validator for Kosmos, IRISnet, Terra, Kava, IOV, E-Geld, Solana, BAND, Matic and Orbit).

The Matic Network mainnet went into operation on June 1, 2020. At the time of its launch, more than 43,000 new blocks had already been produced.

On September 12, 2020, the developers of the Matic network announced the Build-n-Earn projects that qualify for grants and community voting. On September 11th, the Matic team confirmed that the VR ecosystem (@Dvision_network) is integrated into Matic to enable “the next generation of virtual experiences”. Dvision is a blockchain-enabled VR content ecosystem that aims to create a more inclusive virtual ecosystem for businesses, designers and regular end users.

Last month, WazirX, an Indian cryptocurrency exchange owned by Binance, announced that it would start a DeFi project with support from Matic.

Although the Matic team has apparently been quite busy since their project was listed on the Binance Launchpad, it remains unclear whether these projects offer customers real value or products that would actually make sense and be useful. Most crypto projects don’t have legitimate use cases. They mainly promote speculative token trading.