Matic Network spawned from Binance's Launchpad IEO platform. An IEO is short for InitialExchange Offering, which we'll get deeper in subsequent blog posts. Matic raised roughly $5 million through the sale of about 1.9 billion tokens. What's notable about this is that IEO's are new to the crypto space and it brought Matic about 1000% in returns with volumes surpassing some of the bigger crypto out there.
Matic's focus is on scalability, the weakness in some of the more notable blockchains today. In this case, the focus is on scaling Ethereum, the first smart contract platform. Ethereum's take on scalability is on a technology called plasma. Matic takes plasma and modifies it to implement their own layer-2 scaling platform, a side chain that uses proof of stake as their consensus algorithm. This is intended to help build decentralized applications (dApps) without any of the limitations we've seen today.
Matic is a tool for Ethereum developers that use solidity smart contracts to make it easy for developers to help scale their dApps.
Due to Matic's association with the biggest cryptocurrency exchange, there are residual benefits when launching your cryptocurrency Binance. They've also joined Binance's information transparency initiative which aims to be transparent with all their activities with all their investors. This transparency will reduce the chances of scam activities which are prevalent in the cryptocurrency space.
They've also received an investment from Coinbase Ventures as seed investors. Another association with a big player in the cryptosphere has helped propel Matic to such high returns so quickly. One of the more common speculative aspects in the space is whether or not the coin will be listed on Coinbase. As you might expect, this speculation is rampant for Matic especially since they're already associated with their venture arm. Coinbase has mitigated this rampant speculation to a certain degree by disclosing a number of cryptocurrencies they are considering to be listed while eventually only listing a few from their consideration list.
DYOR. Do Your OwnResearch if you're looking to invest in Matic.
Look at their GitHub repository, read up on their founders, check up on their community.