Matic Network is a decentralized platform using an adapted version of the Plasma framework to provide a solution for faster and extremely low-cost transactions.
The Alpha-Mainnet is Matic Network’s sidechain working on the top of Ethereum Mainnet. The developers can build and test their full end to end applications with this alpha-mainnet. This is a public launch, however, the staking functionality will be added later.
Projects building on Matic — Decentraland, Chainbreakers, Bet Protocol, CryptoStaw, Cryptocontrol and the other increasing number of partners and developers — will be among the first to start building on the Matic α-Mainnet.
It is a major step forward for our Mainnet release. We had initially communicated that we will have releases in three phases before the mainnet launch. These are in place to ensure we can phase out the network in a secure and battle-tested manner. The phases are listed below:
Final Testnet — (Deployed on 3rd June)
α-Mainnet — Nicknamed तपस (Tapas) (Q2 2019) — The current release
Note: Please note that this is an early version of the Mainnet so there is a limit on the funds that can be deposited to the sidechain. Currently, the limit is set to 10 Tokens that can be deposited, i.e users can deposit only up to 10 DAI to the sidechain. Do not deposit any arbitrary token to the sidechain without getting in touch with the team first.
Currently, the tokens that are mapped and available to be used on Matic sidechains are:
DAI Token on Ethereum Mainchain: 0x89d24A6b4CcB1B6fAA2625fE562bDD9a23260359
DAI Token on Matic Chain: 0xc585e22204CE8ab2A00B44C7d214f6ff25760239
Test Token on Ethereum Chain: 0xd391dd06730931c84cc168e54466b234451c1a0e
Test Token on Matic Chain: 0x9d3f6e51a7c485381afd53802ff828b083db403c
What’s possible with the α-Mainnet?
Matic Chains are Ethereum Virtual Machine (EVM) compatible and extremely developer friendly: Deploying smart-contracts is similar to deploying contracts on Ethereum using tools like Remix, Truffle. Teams developing on Ethereum can immediately port their existing smart contracts and begin testing on Matic sidechains.
ERC-20 & ERC 721 transfers are currently secured with Plasma guarantees on the Matic sidechains whereas the smart contracts that are deployed on Matic sidechains will have Proof-of-Stake security.
To read more about how you can interact with the α-Mainnet refer to
A simple workflow of Matic’s Plasma functionality for ERC-20 & ERC-721 transfers:
User deposits crypto assets in the Matic contract on main-chain (currently implemented with Ethereum blockchain only)
Once deposited tokens get confirmed on the main chain, the corresponding tokens will get reflected on the Matic chain.
The user can now transfer tokens to anyone they want instantly with negligible fees. Matic chain has faster blocks (approximately 1 second or less). That way, the transfer will be done almost instantly.
Once a user is ready, they can withdraw remaining tokens from the main chain by establishing proof of remaining tokens on Root contract (contract deployed on Ethereum chain)
One can use Matic Wallet to perform and test all the above steps.
How to download Matic Wallet? You will need to register to download the Matic Wallet app that supports the α-Mainnet. To register, please click on this link
What not to expect from the α-Mainnet:
Unlimited asset transfers from Ethereum; the α-Mainnet will have restrictions in terms of the amount of Ethereum mainnet assets you can move to Matic at this point in time
Open sourcing of code — The complete code-base will be released to the public, post completion of the security audit and bug bounty program just prior to the final mainnet launch
Staking will not be possible with real tokens as yet, it will come up in the upcoming releases
Staking pools and rewards
Watchtowers to watch the sidechains
How do I get a Matic Network address? Matic Network is Ethereum/EVM compatible. Any address created on Ethereum will work for Matic as well. One can use Matic Wallet or any other Ethereum wallet to create a Matic address.
Tokens are the élan vital of Web3 networks, and projects are often perceived through the price at which they trade. But token price, subject to market sentiment and speculation, is not synonymous with token value. To understand the fundamentals, we must first unpack the different ways that value accrues to tokens in the new Internet […]
With Ethereum’s Merge finally upon us, we’ve been thinking about how this historic milestone will affect our sustainability efforts. Polygon’s initial commitment to become carbon neutral and eventually carbon negative was largely addressing emissions generated by our relationship with Ethereum. The Merge dramatically changes that equation. Ethereum’s transition from Proof-of-Work to Proof-of-Stake consensus, known as […]
Today, we are thrilled to announce that Starbucks Coffee Company is working with Polygon to provide the blockchain technology to build its recently announced Web3 experience, Starbucks Odyssey. As a result of the partnership, this new Web3-powered experience will allow Starbucks Rewards loyalty program members and Starbucks partners (employees) in the United States to earn […]
The Polygon Avail Testnet is now live. As users begin incorporating Avail into their chain designs, a question that often comes up is, “How many transactions can Avail process?” This is Part Two in a three-part series of articles that will address Polygon Avail’s current performance, as well as its ability to scale in the […]
Ethereum’s much-anticipated transition to the proof of stake (PoS) consensus, known as the Merge, is almost upon us. It’s a momentous event with broad-ranging implications for the greater Ethereum ecosystem. So we wanted to provide a definitive list of frequently asked questions (and answers) as well as address some of the common misconceptions, both of […]
Polygon has teamed up with Alpha Venture DAO and Icetea Labs to launch the inaugural Icetea Labs Accelerator Program for blockchain startups. Working in a tight three-way partnership, Polygon is co-creating an accelerator to funnel resources, mentorship, education, and business acumen to promising Web3 companies from around the world. The startups selected for the accelerator […]
Applications are open for Polygon Bootcamp Africa, launched in partnership with Xend Finance! The eight-week intensive educational course and hackathon combo will put developers in Africa on the Web3 map. This is Polygon’s biggest step in providing resources to developers, builders, and creators in Africa, and it comes during an important time. An internet and […]
As part of our ongoing efforts to inform the Ethereum community about the efforts of Polygon’s zero-knowledge (ZK) teams, we will be posting a series of technical papers by our engineers and researchers. We hope that everyone who’s interested in the inner workings of Polygon’s ZK projects, Ethereum itself, and cryptographic engineering in general will […]