Blockchain Foundry and Matic Network Establish Partnership to Research Blockchain Interoperability
29 July 2020 - 11:26PM
Blockchain Foundry Inc. (“BCF” or the “Company”) (CSE:BCFN), a
leading North American blockchain development firm, is pleased to
announce that it is partnering with Matic Network (“Matic”) to
explore interoperability between the Syscoin and Matic networks.
Matic and BCF’s Syscoin Ethereum bridge both
provide scalability for the Ethereum network but approach it in
different ways; Matic via sidechains and BCF via the trustless
Syscoin Ethereum bridge which allows for scalable transactions. The
two projects are complementary, and as partners, Blockchain Foundry
and Matic will collaborate on research initiatives, joint ventures,
and marketing and business development focused initiatives.
“Scalability solutions each have their own
approaches and advantages; collaboration is the key to the
long-term success of the blockchain industry. By combining the
scalability advantages of Matic Network and Syscoin, together we
will be able to usher in a new era of true scalability for
Ethereum-based DApps. We at Matic Network look forward to working
with Syscoin to provide the infrastructure to enable the global
Ethereum ecosystem to flourish and thrive,” said Sandeep Nailwal,
COO of Matic Network.
“With this partnership, we are tackling
blockchain scalability through two complementary strategies. Matic
Network provides a solution to the increasing congestion on the
Ethereum mainchain. With our recently launched trustless Syscoin
bridge to Ethereum, ERC20 tokens can hop over to Syscoin and
benefit from its already scalable network for payments. The
combination of all three networks (Syscoin, Ethereum & Matic)
provides a powerhouse blockchain solution that developers can trust
to fully scale their project,” said Dan Wasyluk, CEO of BCF.
About Blockchain Foundry
Inc.
Blockchain Foundry Inc. (CSE:BCFN) is a global
blockchain consulting and development firm. The company specializes
in blockchain solutions and smart contracts for enterprise clients.
Blockchain Foundry also develops and commercializes decentralized
ledger technology like Syscoin.
About Matic
Matic Network Pte. Ltd. is a decentralized
scalability platform solution using an adapted version of the
Plasma framework that empowers Ethereum-based DApps with the
high-speed and extremely low-cost transactions required to achieve
mass adoption. With 60+ DApps building on their network already,
Matic Network is one of the most widely adopted DApp platforms in
the industry.
The Matic Network blockchain achieves finality
using PoS checkpoints which are pushed to the Ethereum mainchain.
This enables a single Matic sidechain to theoretically achieve
65,535 transactions per block, and possibly millions of
transactions on multiple chains in the future.
Blockchain Foundry Contact
Information:
Chris Marsh President cmarsh@blockchainfoundry.co (647)
330-4572
Forward-Looking Information
Certain portions of this press release contain
“forward-looking information” within the meaning of applicable
Canadian securities legislation, which is also referred to as
“forward-looking statements”, which may not be based on historical
fact. Wherever possible, words such as “will”, “plans,” “expects,”
“targets,” “continues”, “estimates,” “scheduled,” “anticipates,”
“believes,” “intends,” “may,” “could,” “would” or might, and the
negative of such expressions or statements that certain actions,
events or results “may,” “could,” “would,” “might” or “will” be
taken, occur or be achieved, have been used to identify
forward-looking information.
Forward-looking statements should not be read as
guarantees of future events, future performance or results, and
will not necessarily be accurate indicators of the times at, or by
which, such events, performance or results will be achieved, if
achieved at all. Readers should not place undue reliance on such
forward-looking statements, as they reflect management’s current
views with respect to future events and are subject to risks and
uncertainties and are necessarily based upon a number of estimates
and assumptions that, while considered reasonable by BCF are
inherently subject to significant business, economic, regulatory,
competitive, political and social uncertainties, and contingencies.
Many factors could cause BCF’s actual results, performance or
achievements to be materially different from any future results,
performance, or achievements that may be expressed or implied by
such forward-looking statements.
Blockchain Foundry (CSE:BCFN)
Historical Stock Chart
From Mar 2024 to Apr 2024
Blockchain Foundry (CSE:BCFN)
Historical Stock Chart
From Apr 2023 to Apr 2024