Binance LauchPad, the ‘token launch’ platform for the Binance Exchange has announced its fourth token launch of the year. Matic Network, a platform for scalable and instant blockchain transactions will be launched on the Launch Pad Platform on 24th April 2019 at 8: 00 Hours UTC.
“We are humbled by the overwhelming support and interest in Launchpad projects… I believe that Matic Network is going to play a key role in this future,” said Binance CEO and Founder, CZ (Changpeng Zhao).
About Matic Network
Matic Network is a blockchain based platform that aims to provide scalability and transaction fees solutions to existing public blockchains. Starting with Ethereum (ETH), the Matic Network will deploy a platform to run decentralized applications.
The network has also implemented the Plasma framework and Proof of Stake (PoS) for maximum security and efficiency.
“The system ensures liveliness using PoS checkpoints which are pushed to the Ethereum mainchain. This enables a single Matic sidechain to theoretically achieve 2 16 transactions per block, and possibly millions of transactions on multiple chains in the future.”
Binance LaunchPad Lottery System
Recently, Binance has announced a change in it’s first to come, first serve’ basis of token sale on the Binance LaunchPad to tackle the mismanagement issue at the time of launch. According to the new system, a purchase right will be awarded to Binance [BNB] coin holders via a lottery. The number of lottery tickets assigned to each user will depend on his/her Binance [BNB] balance.
Binance Founded, CZ Chanpeng Zhao noted that “We are constantly evolving and adapting for our community’s interest and the new Launchpad criteria is a response to accommodate the high demand, and ensuring a better user experience, fairness and transparency.”
Binance is the world’s largest Cryptocurrency Exchange in terms of the transaction volume. The three projects initiated earlier on the LaunchPad were completed in not more than an hour. Hence, the Matic Network is also expected to grow
“Matic’s developer-and-community driven platform allows any existing application to adopt and interact with the decentralized ecosystem for tangible scalability and better user experience,” said CEO of Matic Network, JD (Jayntibhai Kanani). “Binance Launchpad will help further realize our goal in enabling businesses and developers to create real-world and end-user applications at large scale.”