Bitgear partners with Matic for scaling and development
New partnership announcement: Bitgear — Matic
Strategic Partnership with Matic
Today Bitgear.io is proud to announce a new strategic partnership with Matic Network, an industry leader in the development of Ethereum blockchain scaling solutions. With Ethereum network congestion and transaction fees near all-time highs, Matic’s transaction throughput will allow our users to enjoy fast network confirmations at extremely low cost. The potential to integrate Matic’s cross-chain bridging functionality would be an exciting feature to provide to our community as we aim to provide the very best trading platform and user experience. Bitgear believes this partnership with Matic is critical in delivering that for our users.
Both Bitgear.io and Matic believe that the current ecosystem has a massive scaling problem. High gas fees and slow confirmations have had an incredibly negative impact across the industry, discouraging network participation, and blockchain adoption. An integration of Bitgear on a Matic sidechain, using an adapted version of the Plasma framework, will enable the high throughput and enhanced user experience critical for exchange aggregation capability. Given the current struggles that the Ethereum network faces, the Bitgear team is even more excited about the positive impact this partnership with Matic will have for our users, as well as the trading community as a whole.
Bitgear.io will develop an ERC20 to BEP2 bridging functionality, as seen in the Matic BEP2 token. With the help of Matic’s development team, we are hopeful we can provide our ecosystem with full cross-chain capability, allowing GEAR Market traders to access assets on both the native Ethereum blockchain as well as Binance Smart Chain.
Once the integration of Matic’s scaling solutions is complete, MATIC token holders will enjoy reduced trading fees within the GEAR Market platform, further expanding Matic Network’s reach and utility.
We appreciate your continued support and look forward to announcing many more exciting partnerships in the future!
Bitgear.io is the first project to tackle bridging centralized and decentralized exchanges. We aim to provide an unmatched exchange experience through the development of several tools that will allow traders of any skill level access to algorithmic trading strategies, arbitrage, and decentralized finance (DeFi). Bitgear.io has four exciting products as part of its larger platform ecosystem, GEAR Engine, GEAR Market, GEAR Portal, and GEAR DeFi. To learn more please follow us on Twitter, Discord, and Medium!
About Matic Network
Matic is a developer-first hybrid POS+Plasma sidechain on top of Ethereum, enabling Ethereum developers to scale their DApps for large scale usage.
Matic is rapidly becoming the go-to Layer 2 Solution for developers, thanks to secure, scalable, and instant transactions, secured by Ethereum. There are 70+ Dapps building on Matic, ranging from DeFi Protocols to thrilling games and prediction markets.
Deploy your existing Ethereum DApp in less than 15 minutes! Get started with our documentation here.