Why OroPocket is deploying on Matic Network
In a bid to attract more institutional investors to get involved in blockchains and crypto assets, Open Finance was created. It acts as a protocol that bridges the gap between real life assets and blockchain. It brings the real life assets to the blockchain, thereby permitting developers to create apps on it. The fact that it is open in nature makes it easy to be integrated with other on-chain apps. Its openness also permits the cross sharing of the digital assets on different blockchains.
With the coming of Open Finance or OpFi, it becomes a lot easier for funds and institutional investors to get involved in the realm of crypto ant blockchain. It takes out the disadvantages that come with it like price slippage, while offer great liquidity and so on.
Open Finance will motivate rapid adoption of DeFi by offering intense yield on assets that can be seen in the real world like stocks, gold and the likes.
OroPocket analyzed the different networks in existence and decided to partner with Matic to build its Open Finance Network. The following reasons made this decision to be reached:
• Matic network is known for its high transaction throughput
The fact that Open Finance is a finance protocol means that there will be no excuse if it is not processed quickly. Its users will expect that. This is why Open Finance decided to go for a network that moved quickly instead of opting for the Ethereum network which leaves massively clogged transactions. When it comes to high throughput, Matic is ranked highly.
• Matic fees are affordable, meaning that micro transactions can effortlessly occur.
The fact that Matic network has astronomically low fees means that Open Finance developers can churn out advanced financial products that are intriguing and useful to the masses.
• Matic screams of openness and decentralization
Not every financial network out there is open like Matic Network. This screams of total decentralization, while being open source. This has gone a long way to preach the neutrality that Open Finance Protocol speaks of.
• Deployment on Matic is easy
Developers love the ease at which one could deploy on Matic, being that Matic is the Ethereum side chain. What this means is that existing Ethereum contracts can effortlessly be deployed on Matic Network. This takes out the learning curve which is predominant when creating other chains. It has a technical team that can help when the deployment process is ongoing.
• Matic has a passionate community of users.
When it comes to how active users are in the blockchain ecosystem are, Matic Network seems to be ranked with very active set of users. This has allowed an ease in their adoption. It also translates to a benefit because there is a great deal of early adopters that can jump onto the train.
Conclusion
Matic Network ticks the boxes in every aspect that Open Finance needed to be deployed, and this is why OpFi will end up being a success because it has taken care of the ground work.
