Matic Network: Journey toward Achieving a Fully Decentralized Network

Complete decentralization is within reach for the Matic ecosystem as the team continues to ramp up efforts towards onboarding more validators to the mainnet. Currently, Matic has passed its first and second phases and is approaching Phase 3 of its staking rollout.

The objective is to increase the number of functioning distributed public nodes to a remarkable degree achieved by community-run validator nodes that will be added to the network.

In Phase 1, infrastructures were put in place to introduce the network, and this was done by onboarding nodes run by partners and onboarding Foundation nodes. Phase 2 saw the network's opening to over 30 additional public validators.

Highlighted below are some of the top-tier projects that have come onboard the Matic networks as validators:

  • BCW Group

BCW Group is a consulting firm specializing in global strategy & management and serves a diverse assembly of high-profile corporate clientele. They are dedicated to making blockchain use cases come alive. The brand addresses the needs of each partner by coming on as a Partner Firm and creating a specialized integrated working group that builds out tactical components of a project.

  • Biconomy

Biconomy is a top-notch technology that enhances user experience by facilitating meta-transactions to negate the need for gas fees. This revolutionary brand is powered by Matic and is dedicated to promoting the mainstream adoption of applications fuelled by blockchain and creating tools that make life smoother for users by removing blockchain complexities between applications and users.

  • Stake capital

Providing validation services for top PoS blockchains, Stake capital is one of the most reliable staking and DeFi service providers in the blockchain industry. The brand enables you to participate in new digital economies quickly and efficiently, providing valuable financial instruments and services. Stake capital facilitates various derivative products and DeFi services through the brand's revenue-sharing DAO. Using Stake Capital, players in the industry can deploy multiple strategies to make the most of returns on digital assets. This includes compounding through lending, leveraging, arbitrage, swapping, borrowing, and staking-as-a-service, plus earning DeFi fee through StakeDAO.

  • WolfEdge Capital

With a special focus on the most ambitious infant blockchain startup and emerging crypto assets, WolfEdge is a fund with an avant-garde approach to its objectives. The brand is unrestricted by standards in financial service, running its validator nodes on multiple networks. Cryptocurrencies are carefully selected across the expanse of the market, utilizing business, legal and technological experts.

  • And many more

Complete Decentralization is Imminent!

Currently, 53 are actively powering the Matic mainnet, and more are expected to add to this list in the coming weeks. 100 validators are expected to be on the network before Matic begins shutting down the Foundation node. Matic is now committing every one of its efforts toward achieving complete decentralization. This target is set to be in two sub-phases:

Phase 3A: Matic network will execute Phase 3A by steadily opening the network of public validators, enabling membership as validators by community members.

Phase 3B: Phase 3B will take off after all slots have been taken. Afterward, all Matic Foundation nodes will be shut down to allow for delegations for the community and public validators. Both parties will then be required to switch delegations to non-Foundation nodes. This procedure ensures that public validators solely receive delegations from the Matic community without bias.

The completion of Phase 3 of validator onboarding would guarantee that the Matic network has attained complete decentralization, after which control will be handed over to the community using an on-chain mechanism.

For more information on mainnet, visit Matic Official Blog.



Research Writer ǀ Web3 Marketer ǀ Petroleum Engineering Graduate ǀ Part-time Journalist

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Ima-Abasi Pius Joseph

Research Writer ǀ Web3 Marketer ǀ Petroleum Engineering Graduate ǀ Part-time Journalist