Based on the analysis performed and issues identified, we have assigned the Matic Network project a Risky+ rating. At the time of writing, a demo version of the project is already available, a likely indicator of the team’s serious intentions.
We draw attention to the fact that the project is currently vulnerable and dependent upon favorable business, financial, and economic conditions to meet commitments on the project’s deliverables. In the event of adverse business, financial, or economic conditions, the team is not likely to have the capacity to meet its commitments on the project. This outlook assesses the potential direction of the project; in determining a rating, consideration is given to any changes in economic and/or fundamental business conditions. This outlook is not necessarily a precursor of a rating change or future team actions.
Use Case: Instant blockchain by plasma side chain
Remarks: Received token metrics details
The main reason this ICO is so attractive to this many people is because they managed to launch a working MVP for a sidechain scalability solution.
The ability to scale existing Blockchain via sidechains is a huge idea and will play a big role in 2019. Several ICOs like Radon Network and others have been working on this for over a year and have not presented as much as the Matic Network ICO.
That said in general the team is lacking in experience in Blockchain development as a lot of the team members are only experienced in web development.
ICOs with a working product tend to do quite well, but in the current market conditions it is very difficult for any ICO to make a profit Post ICO. Token metrics become more important than anything else. We need full transperency in regards to Private Sale investor bonus rounds, seed round prices and lockup and post exchange plans.
Currently we are Neutral on the Matic ICO, this is not financial advise always find several different opinions and form your own one as well. Always do your own due dilligance.
Strength and Opportunities:
The Matic Network counts with a broad number of use cases including payments, atomic swaps, which enables users to pay with and receive any token they wish, decentralized exchanges, credit scoring through user’s past transaction history, and identity features. A very interesting feature that Matic Network offers is the Zappier integration through Dagger for Ethereum. With this integrations developers can connect the Ethereum platforms with hundreds of popular applications which can potentially boost adoption among users and developers.
Weaknesses and Threats:
No private investors have been announced so far which will make the process of a public token sale harder. Also there is only one advisor stated so far. There are several teams that are building layer 2 blockchain applications focussed on scalability. Among them are Celer Network and Loom Network. The approach of these teams is very similar, but their stage is already more advanced.
Verdict:
Matic’s developing efforts are focussed on improving the scalability of Ethereum, the world’s leading smart contract platform by market capitalization. Scalability of Ethereum will remain one of the biggest constraints over the next years and hence Matic is not alone in this field. The platform who can deliver a solution for this problem may receive a substantial reward. Still, the token model of Matic is not yet fully proven. Also without credible private investors it will be difficult to create sufficient hype around the ICO.
We observe quite a notable increase in the quality of projects that aim to raise funds in 2019 as compared to the situation in 2018. One of the projects that we think deserves your attention is Matic Network.
Here are five reasons why:
1) Scalability
Matic Network uses an adapted version of the Plasma framework that provides a solution for faster and extremely low-cost transactions with finality on main chain. The Matic Network (https://cryptodiffer.com/matic-network-ico) has a theoretical capacity of up to 2^16 transactions per second on a single side chain. In the future, more side chains can be added in order to increase the number of transactions to millions per second.
2) Focus on UX
Matic (https://cryptodiffer.com/matic-network-ico) aims to put a lot of attention on user experience, among other notable features we want to highlight a Dagger. Dagger is a tool to get real-time updates from the Ethereum blockchain. The tool updates users on events like the wallet transactions or placed bids on DEX and more via SMS, notifications or email.
3) Security
Matic introduces Fraud Proofs which function as an always-running high reward bounty program for parties who wish to get rewarded for spotting fraudulent transactions.
4) Active tech development
The team has recently published a technical update indicating that the alpha mainnet and wallet release are just around the corner. Matic has already released a full-blown version Dagger, you can check it on the website.
5) Asset interoperability
Matic Network intends to integrate multiple blockchain platforms to provide a universal platform for the users to be able to use/exchange their assets from various blockchains.
Binance launchpad woohoo....Matic Network is a Layer 2 scaling solution that achieves scale by utilizing sidechains for off-chain computation,
Matic Network is a blockchain agnostic Layer-2 scaling solution that aims to facilitate scalable, secure, and instant blockchain transactions via the use of sidechains and Plasma technology. The project will initially achieve its objectives by using Plasma-based side-chains on top of Ethereum and ensure asset security via a decentralized network of Proof-of-Stake (PoS) validators. The team behind the project aims to overcome the problem of scalability for decentralized applications (dApps) and provide a solution for other associated problems such as slow block confirmations, block size limitations, and computations issues in smart contract based blockchain platforms.
Matic focuses on both developers and end users and intends to provide a Matic wallet, payment APIs and SDKs, and additional solutions that will allow developers to design, launch, and migrate dApps built on platforms such as Ethereum. Matic will also allow cross- chain transfers involving digital currencies such as BTC and ETH (using pegging), thus allowing anyone to exchange these currencies on Matic based Decentralized Exchanges (DEXs). With the team initially focused on the Ethereum Network they plan to integrate with the 0x protocol, and 0x contracts can be deployed on Matic which allows relayers like Radar Relay and Paradex to work more efficiently and users can trade instantly (~1 second) without waiting for block confirmations.
In the future, Matic intends to support other blockchains and develop interoperability features, thus improving scalability across various existing public blockchains.
Review Rating
Product | 85%
Use of Blockchain | 100%
Documentation | 85%
Development Roadmap | 85%
Business Model | 80%
Company & Team | 75%
Token Sale | 60%
Final Rating | 81%