MaticVigil — scalable blockchain API for everyone
When we first launched our Ethereum API gateway over 2 years ago, one of our biggest challenges was to scale transactions and costs associated with it. As I write this post, the current capacity of the main chain stands at 50 transactions per second at a standard cost of $1.83 for each value transfer! Keep in mind, these are just ETH transfers. With transactions that call smart contract methods and modify state, costs rise linearly which our gateways covers.
While our beta on Ethereum (Görli) testnet allows developers to try their prototypes for free, our mainnet has always been for select customers and limited to read-only access that restricted them from deploying real world applications. That changes today.
Introducing MaticVigil, our scalable API gateway for Ethereum through Matic Network’s Layer2 solution.
Matic Network solves the above problems by building a decentralized platform using an adapted version of Plasma framework that provides a solution for faster and extremely low-cost transactions with finality on the main chain.The system ensures liveliness using PoS checkpoints which are pushed to the Ethereum mainchain. This enables a single Matic sidechain to theoretically achieve 65,536 transactions per block, and possibly millions of transactions on multiple chains in the future.
We are bullish on the next big iteration of Ethereum (Eth2.0) and our team has been researching on L2 chains for a year now. Our main roadblock though has been ensuring the L2 chain runs in a decentralized manner that incentivizes all parties.
Our product, MaticVigil enables any developer to interact with value transfers and transactions on Matic as if it were talking to just another web service REST API over HTTP with just a few lines of code.
- You can focus on coding “business logic” without worrying about the “protocol logic” behind the scenes.
- Rely on our in-built caching, monitoring and fault-tolerant logic that powers the API.
- Configure further integrations with webservices (Webhooks/IFTTT applets/Websockets), email, slack and many more over smart contract events and specific Ethereum transactions, powered by our monitoring and watcher systems.
MaticVigil takes care of the heavy lifting needed to conform with protocol specific logic like:
- private key management, upgradeable contracts, proxy patterns
- transaction lifecycle management
- Gas limits and transaction fees, execution optimization etc.
- Correct encoding and decoding of transaction data
This allows developers to quickly deploy and build on smart contracts over MaticVigil API gateway with minimal knowledge of the Ethereum Virtual Machine or Solidity, usually reducing the lifecycle of blockchain application development by a factor of 80%.
We have been running our API gateway on Matic Mainnet soon after it went live and are ready to onboard everyone. This finally allows us to offer affordable pricing for not only SMBs but also hobby developers starting at just $20/mo and comes with a 14 day trial — no credit card required. As always we are committed to bringing blockchain to the masses, so a generous FREE plan is offered for personal and prototyping use.
We can’t wait to see what developers build and unleash the next wave of killer apps on Blockchain!