News by Altcoin Buzz: Ifeanyi
Matic Network (MATIC) is a platform for scalable and instant blockchain transactions based out of India. The platform teamed up with Binance to promote the testing of its new cryptocurrency wallet with a free giveaway.
How to partake in the promo
According to reports, interested Binance users can sign up to download the Matic Wallet on iOS or Android and send transactions using MTEST testnet tokens.
Matic Network is expected to randomly select 3,000 users. Users have to complete at least one transaction to receive $20 in MATIC. The program will run from today until May 4.
Last week, Matic Network launched its token on Binance’s token sale platform, the Binance Launchpad. Since then, MATIC has risen up 66.7% from its token sale price of $0.00263. In total, 1,900,000,000 were offered in the sale, this equates about 19% of the total supply.
Recent invention by Matic Network
According to the company’s website, Matic Network has plans to become the go-to platform for developers. They intend to deploy and run decentralized applications (Dapps) alongside Ethereum (ETH) as well as its second-layer scaling solution that utilizes side chains for off-chain transactions.
The new platform also uses a Plasma framework and proof-of-stake validators. Its Wallet is a production-ready Plasma wallet with WalletConnect natively integrated. Therefore, it can be used by end-users to seamlessly interact with Dapps on the Matic Network.
According to the Matic team, Developers can offer a user-friendly option to their Dapp users. This enables them to keep their private keys on mobile.