Celer & Matic teams are proud to announce the successful integration of the Celer State Channels and Matic’s testnet sidechain approach to scaling blockchains in an official partnership. For the first time ever, two prominent layer 2 scaling solutions have teamed up! Celer Network has linked up with Matic Network to improve user experience, improve efficiency and reduce user cost.
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“Both Celer and Matic are popular layer-2 scaling solutions. Celer is focused on state channels whereas Matic is geared towards side chain technology. The state channel’s integration with Matic greatly reduces the cost and delay involved with initialisation, final settlement and protocol failure. For Matic, the integration with Celer’s generalised state channel technology high-frequency, real-time interaction between users at zero costs. It also enables smart contract interaction enabling side chain users to move assets without cross-chain delays”
Celer Network is a leading layer 2 scaling platform that enables fast, easy and secure off-chain transactions for not only payment transactions, but also generalized off-chain smart contract. It enables everyone to quickly build, operate, and use highly scalable decentralized applications through innovations in off-chain scaling techniques and staking based security and liquidity mechanisms. Celer Network is on a mission to fully unleash the power of blockchain and revolutionize how decentralized applications are built and used.
Celer and Matic are both layer-2 scaling solutions with Celer currently focusing on generalized state channel and Matic currently focusing on side chain technologies. For a state channel network, integration with Matic means that the cost and delay of initialization, final settlement and protocol failure protection can be significantly reduced and therefore remove some key user experience friction. For a side chain, integration with Celer Network’s generalized state channel technology means that high-frequency, real-time interaction between users become possible with zero cost and cross-side-chain and side-chain-to-root-chain instant fund transfer and smart contract interaction also become possible, so that side-chain users can move assets freely without any cross-chain delay.
Various low-cost and instant micropayment-based services, such as video streaming, data, network and compute resource sharing, decentralized power grid payment system and usage-based insurance, are all good examples of this integration’s use cases. In addition, this integration enables the possibility to combine low-cost permanent storage and high-frequency interaction in blockchain applications.
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