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Matic Network is in Partnership with Blockchain Foundry to explore interoperability between Syscoin and Matic



Matic Network is in Partnership with Blockchain Foundry to explore interoperability between Syscoin and Matic

Matic Network, the most exclusive Ethereum smart contract scalability platform has decided to collaborate with Blockchain Foundry. The main purpose behind this partnership is to explore the differences between the Syscoin and Matic Networks.

To make you aware let me inform you that both the networks already offer mainnet blockchain scalability clarifications for tokens based on Ethereum and for DApps.

To be very specific Matic Network facilitates advanced contracts and Syscoin is aimed at transferring assets and tokens at reasonable values. This agreement will lead both the networks to explore with one another and to introduce a completely scalable project that will flourish and prosper on the Ethereum network.

As per this agreement, Blockchain Foundry and Matic will work together on different stages starting from research work, joint venture marketing, and also on business development programs.

The Matic Network COO, Sandeep Nailwal said that “Scalability solutions each have their own approaches and advantages; collaboration is the key to the long-term success of the blockchain industry.”

“By combining the scalability advantages of Matic Network and Syscoin, together we will be able to use it in a new era of true scalability for Ethereum-based DApps. We at Matic Network looks forward to working with Syscoin to provide the infrastructure to enable the global Ethereum ecosystem to flourish and thrive.”

The features of Matic Network is worth mentioning, it already has an operating mainnet, at reasonable costs, with fabulous speed for DApps on the Ethereum network through its side-chain that is in compliance with EVM implementation and permits the users to move effortlessly between Matic Network and recognized Ethereum mainchain.

The low-cost transaction, with extra-ordinary speed and the security offered by Syscoin’s Decentralized Finance (DeFi) mechanism, strengthen the projects with framework and equipment required for mass adoption. With the support of Syscoin, ERC-20 and the Syscoin Platform Tokens (SPT) can freely be used now as Point Of Sale (POS) clarifications. The audit report clarified by third-party depicts that Syscoin has the capability of providing a network at 140k TPS (transaction per second) at its peak.

Talking about the Blockchain Foundry the platform has recently come up with the globe’s foremost trust-minimized Blockchain compatibility structure on the Syscoin Platform mainnet. This Syscoin Ethereum bridge can be utilized by Ethereum based platforms to move ERC-20 tokens when required between the Ethereum Blockchain and the Syscoin network.

The Blockchain Foundry CEO, Dan Wasyluk said that “With this partnership, we are tackling blockchain scalability through two complementing strategies. Matic Network provides a solution to the increasing congestion on the Ethereum mainchain.”

“With our recently launched trustless Syscoin bridge to Ethereum, ERC20 tokens can hop over to Syscoin and benefit from its already scalable network for payments. The combination of all the three networks provides a powerhouse blockchain solution that developers can trust to fully scale their projects.”

Disclaimer: Koinalert’s content is only for information purpose in nature and should not be considered as investment advice. Do your own market research before investing in any cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.

Rupali Sinha is a journalist at Koinalert. She covers the latest news and updates related to Blockchain technology and cryptocurrencies.