One of the primary stumbling blocks impeding blockchain adoption is the issue of poor scalability of open ledger technology. Given the high traffic that usually the web 3.0 decentralized applications face, blockchain experts around the globe for putting in efforts to come up with a feasible solution to handle the large flow of requests on blockchain efficiently.
Delving deep into the issue and one finds that one focus area that could potentially solve the scalability issue is Layer 2 scaling. Also referred to as L2 Scaling, this scaling is beneficial as it broadcast only end result of transactions while settling payments off-chain.
In the field of L2 scaling, Matic Network is quite a well-known name, with the company being the leading service provider of L2 solutions. The network makes use of the Plasma framework and proof of stake consensus mechanism, and it is already integrated well into the Ethereum blockchain. In the future, Matic will expand further as it has got its eyes set on a number of new platforms that it will be integrating in the coming years. This specifically will be beneficial to provide clients the convenience of interoperability in addition to offering them scalability solutions.
Partnership with Razor
In order to power its future expansion of providing scalable decentralized applications, Matic requires robust and reliable oracle services, and this is exactly where the relevance of this partnership with Razor network comes into the picture. Razor provides decentralized services to connect the smart contracts with real-world data in a reliable and authentic manner. Like Matic, Razor also uses proof of stake consensus mechanism, which ensures that a high level of reliability and transparency remain intact in the system. Access to reliable data services will be highly beneficial for the Matic as it will speed up the development process by bringing authentic data services to the table.
The benefits of this partnership will accrue to the account of both organizations. While Matic will get access to reliable and robust real-time data, Razor will get introduced to the Global and vibrant community of Matic through this partnership. In sum, this coming together will definitely help the blockchain segment improve one of its time-honored problems related to scalability.