Matic Network is a blockchain application platform that provides developers with the ability to deploy applications with faster and cheaper transactions while still maintaining a high level of security, by utilizing a novel combination of hybrid Proof-of-Stake and Plasma-enabled sidechains.
Architecturally, the beauty of Matic is its elegant design, which features a generic validation layer separated from various execution environments. This architecture provides Matic with a huge breakthrough for growth for Matic and increases its addressable market size, along with the addressable developer community size, many fold. More on this hugely exciting front later.
When we started Matic in 2017, the initial hypothesis was to build a platform that developers would find easy to develop on, and would work as a Layer 2 solution to Ethereum. We understood early on that there would be various scaling approaches that could apply and we did not want to tie ourselves to a specific solution. With this in mind, we architected our solution to have a core Proof-of-Stake layer with the MATIC token securing it.
Currently, developers can use Plasma for specific state transitions for which Plasma predicates have been written such as ERC20, ERC721, asset swaps or other custom predicates. For arbitrary state transitions, they can use PoS. Or both! This is made possible by our hybrid construction.
Some decisions that we made early on in our design have proved to be very beneficial during the course of implementing our platform over the last 2+ years:
Counter Stake is Matic’s experimental testing event for everyone wishing to participate in the testing of the Matic network, by validating, conducting economic or other attacks, testing the network’s limitations and earning rewards by showcasing technical skills. Counter Stake allows one to compete with other validators on our testnet and earn rewards.
Counter Stake comprises of 3 stages:
We received an overwhelming response for this stage. Stage 0 was initiated in November 2019. In this stage the objective was to become familiarised with setting up a node for Matic. This would later be a foundation for Stage 1 once the community was familiarised with the process, components and requirements.
During this stage validators were able to:
We started Stage 1 on February 13, 2020. During Stage 1 we tested out running the actual blockchain. There were 300+ registrations for Stage 1 and we onboarded more than 150+ validators throughout 6 testnets. Our current testnet, CS-2006, is running with 100 Validators.
During Stage 1, validators were able to:
For more details on Stage 1, we released a blog post highlighting all the important points and milestones we achieved: https://blog.matic.network/counter-stake-stage-1-is-complete-the-final-stage-begins-matic-network/
Even though Stage 2 is currently underway, our current testnet (CS-2006), running with 100+ validators, has been carried over to Stage 2, and this testnet has been running for 3+ weeks. This gives us enough confidence to initiate the network with the initial set of validators.
Stage 2 is an adversarial stage where our network is being “stress-tested” thoroughly in terms of attempts to break it. It will be an ongoing process which, along with a year-long (separate) bug bounty program, will ensure that we are made aware of any adversarial attack scenarios on the network. In Stage 2 in particular, this basically means is that we are encouraging validators to:
Although Stage 2 has been running for 2 weeks now, with no issues found as of yet, in the case that in the later weeks of Stage 2 any issues are found, the mainnet with the initial restricted validator set will allow us to upgrade the network quickly and iterate in the live environment, which in itself is a learning process for a nascent network like Matic.
Please refer to our dedicated article here for a detailed overview of Counter Stake — Stage 2.
The mainnet launch will be spread over multiple steps as detailed below. This multi-step process will ensure that the mainnet deployment and validator onboarding is achieved as smoothly as possible.
More importantly, it ensures that right from day 1 that DApps are able to deploy their products successfully on Matic and that their user experience is stable and robust. That’s also one of the reasons why we are choosing to start with DApp partners as early validators.
The network will move from one stage to the next based on the goals for each stage. The intent is to ensure that early issues get addressed and resolved quickly. We do expect our network software to function well, but we believe the most pragmatic approach is to gradually rollout the network to address any unforeseen issues.
Mainnet rollout strategy
These are the steps which we will be taking to ensure our network rollout is as smooth as possible:
Step #1: DApp partner onboarding, Genesis Ceremony & mainnnet Go-Live with initial validator set (only Matic Foundation nodes and nodes run by select validators invited by the Matic team will be active)
Step #2: Additional validator slots to be opened gradually (in batches of 5–10) to public validators
Step #3: Full-blown public validator-run decentralized network
Timeline: May 15th to end of May
During step 1, we will onboard the nodes run by our selected DApp partners and will ensure our infrastructure is set up for the launch of the network. We will then hold our Genesis Ceremony, and make the necessary preparations before going live.
The first step of the Matic mainnet will be launched with an initial set of validators including the Matic Foundation nodes and some select validators who have been working closely with the Matic team. These include professional validators and marquee DApps who will be deploying to the mainnet. The list of DApp Partners which are going to be in the first cohort is being finalized and will be released shortly.
A very important point here is that the state of the network will be persisted and maintained by the Matic Foundation in this step. This will continue until the final step.
Developers will be able to deploy their applications on Matic directly by acquiring MATIC tokens on Ethereum from an exchange of their choice.
ETH, MATIC and other ERC20 tokens can be moved to Matic from Ethereum and vice versa.
The Betav2 mainnet and Alpha-mainnets will be retired. Appropriate support will be provided to migrate state and tokens from both of these mainnets to the final v1 mainnet.
Validator slot auction and replacement will be disabled during this phase. Slashing is also disabled in this phase — this will be enabled in later stages.
The final testnet of Counter Stake — currently CS-2006 — will be transitioned to be a testbed for developers and will replace all current testnets, including Testnetv2 and Testnetv3.
The goals for this phase are to:
Timeline: Upon successful rollout of step 1
This is not a discrete, but continuous phase in which additional validators slots are being opened gradually in batches of 5–10.
This ensures the smooth addition of external validators into the network, and the resolution of any unforeseen issues that may be encountered.
The validator slot auction process will be enabled and validators can be replaced. Interested validators will need to participate in the staking slot auction process, if a slot is not empty, by staking a higher amount of MATIC tokens compared to the incumbent.
Slashing is disabled in this stage.
The goals for this phase are to:
Timeline: Upon successful rollout of step 2 & validator community governance
Once this phase is reached, the network is decentralized and will be entirely run by external public validators only. The network will not depend on the Matic Foundation nodes to be running.
Entry onto this phase will be decided by validator governance.
Matic Foundation and the initial set of nodes will be switched off and delegation will be enabled for all external validators.
Slashing is expected to be enabled in this stage. More details regarding the details of the slashing mechanism and the rationale behind it will be explained in a later blog post.
This phase is when the network reaches true decentralization and the governance will be handed over to the community via an on-chain governance mechanism.
The Matic ERC20 token lives on Ethereum and this will continue being the case after mainnet launch. The token is not inflationary and a fixed percentage of the token supply is reserved for staking rewards for the first 5 years.
For a detailed overview of the Matic Network staking economics, please refer to the following articles:
Let the fun begin! “pew pew” ?
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