Plasma development has just been given a major boost after Matic Network announced a partnership with India’s most prized technology firm, Infosys.
Infosys will join forces with the blockchain startup and become a validator for the Matic Network as it works on Ethereum’s main scaling solution.
Matic Network In Right Place To Scale Ethereum
Matic Network is a Layer 2 scaling solution that aims to provide a different Layer 2 platform approaches for Ethereum developers to scale their dApps.
Since launching last year, Matic has launched its hybrid PoS+Plasma sidechains on top of Ethereum, which has been a hige success, and is gaining traction, making Matic one of the fastest growing dApp platforms in the crypto space.
As well as impressive growth in its product, its price has has gained 470% against BTC since launching as a Binance IEO in April 2019.
Infosys an Indian Global Tech Giant
Infosys is a $40 billion NYSE listed tech giant, and has been at the forefront of India’s tech scene in its 38 years of existence, steering some of the major changes that have led to India’s emergence as the global destination for software services talent.
Scalability The Main Driver Behind the Partnership
Scalability and the development of Plasma has proven to be much harder task than some expected, but with India’s most revered technology company joining forces, it has given the ETH community a significant boost.
Matic, which claims to be able to handle up to 10,000 transactions per second, could help scale Ethereum, and with the clout Infosys has in the traditional tech industry, it’s giving the project a real boost.
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Speaking of the partnership, Matic COO Sandeep Nailwal said,
‘We are extremely proud to welcome Infosys as a network validator. Infosys has been the pioneer of the Indian tech success story and has been an idol for millions of computer science professionals like me. We couldn’t be more thrilled to be working with the iconic institution to make an impact in the new decentralized world order.’
As well as offering its expertise in Matic’s scaling exploration, Infosys intends to get deep understanding of the secure, high-performance infrastructure required for a global dApp ecosystem like
What’s more, it’s not the first financial product Infosys has gotten involved with. The tech giant built Finacle, a banking software used in over 100 countries.
So, their knowledge of the legacy financial world will be key for connecting MATIC, Ethereum and the financial industry.
Matic Network has fulfilled its promise an much more in its short existence. Building arguably the most useable scaling solution on top of Ethereum to date is impressive in itself.
This has reflected in its impressive price action, and also the way it has attracted many huge partnerships. And now with Infosys, who would bet against Matic Network being the platform to scale Ethereum?
Author: Tommy Limpitlaw