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Binance Launchpad Successfully Launches Matic Network IEO

Binance Launchpad recently revealed its support for its next project for 2019, a platform for immediate and scalable blockchain transactions called the Matic Network. The support platform for crypto exchange company Binance hosted a token sale for its latest project which began on April 24 and used a unique lottery format to ensure transparency and fairness.

Binance CEO Focusing on Adoption

Binance’s founder and CEO Changpeng Zhao, also known as CZ in the industry, said that the company is humbled by the consumers’ interest and support of its Launchpad projects. He added that these projects help unlock the huge potential blockchain tech has and also assists in the adoption of cryptocurrency.

Zhao also claimed that Matic Network will play a critical role in the future of blockchain and crypto. He also stated that the company continues to evolve and adapt for the sake of the community and that the new criteria used by Launchpad were their way of responding to the high demands of consumers. It also ensured enhanced user experience, transparency, and fairness.

Scalable Decentralized Applications on L2

Matic Network is planning to be the sole platform where developers will set up and manage scalable decentralized applications. The platform is a Layer 2 scaling system that reaches scale by using sidechains for off-chain calculations while providing asset protection through its Plasma framework and a decentralized system of Proof-of-Stake (PoS) validators. The Matic Network will reportedly bring large scale to public blockchains, beginning with Ethereum.

Matic Network’s CEO, Jayntibhai Kanani, said the platform is developer-and-community driven and lets existing applications to embrace and interact with its ecosystem for solid scalability and enhanced user experience.

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