November 07, 2021

Ep43: Making Blockchain Simple ft. Matic Network

29 minutes

Jaynti was born and brought up in a small town in Ahmedabad. He studied at a local college, where students’ ambition was limited to getting a job at TCS. Jaynti too followed a similar path and took a job at an Indian corporate.

A friend introduced him to YC’s Hacker News - a website focusing on technology and budding startups.

Desiring to work with great people, he tried cold mailing people at top US startups - even offering to work for free, but didn’t receive any response. He worked at a couple of startups, and learnt more about the zero to one building journey. He was always working on multiple side projects, waiting for something that really clicks.

Jaynti came across bitcoin and was drawn to the endless possibilities the technology offered. Diving deeper into blockchains, he discovered the limitations of existing tech. Ethereum had made it possible for anyone to make apps on blockchain, but as the network grew transacting on ETH became increasingly slow and expensive - with cost of 1 transaction rising even higher than $80.

To solve the problem of scaling blockchains, Jaynti created Matic - a layer 2 solution that augments Ethereum and drives its scalability. Using Matic brings the transaction cost to less than 1 INR, while also making it 20 times faster.

Today, Matic’s worth more than $10B and is used by companies worldwide for applications including NFTs, DeFi

For more details - https://ajuniorvc.com/podcast/

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