Matic Network is a Layer 2 scaling solution that uses an adapted form of Plasma to provide scalability and faster transaction finality on the Ethereum blockchain. Matic Network is backed by Coinbase, one of the largest cryptocurrency exchanges in the United States.
Matic Network’s goal is to solve the scalability issues that are currently plaguing the Ethereum network. The project has been endorsed by some of the biggest names in the cryptocurrency space, including Vitalik Buterin, the co-founder of Ethereum.
Coinbase’s investment into Matic Network shows that the exchange is confident in the project’s ability to solve Ethereum’s scalability issues. With Coinbase’s backing, Matic Network has a strong chance of becoming a leading solution for scaling on Ethereum.