16 Sep 2020
IGGalaxy has migrated to Matic Network!
After considerable research and careful consideration we are very excited to share that IGGalaxy’s core blockchain architecture will be migrating from TRON to the Matic Network!
Matic’s Layer 2 scaling solution is precisely what Ethereum’s $40 billion-dollar ecosystem is calling out for as we collectively push for mainstream adoption of blockchain technology. From a business development perspective, this migration will allow IGGalaxy to tap into Ethereum’s thriving ecosystem without the performance constraints of the main-chain. Furthermore, it will enable IGGalaxy to achieve the scalability required in a more cost effective and user friendly manner, so that Intergalactic Gaming can facilitate the mass adoption of blockchain by mainstream gamers.
Cryptocurrency communities are known for their tribalism, which no doubts hinders wider adoption. While Matic will be central to the IGGalaxy token economy, we believe that the future of the blockchain industry will evolve into a mesh of networks that are interoperable. As this happens, you can expect IGGalaxy to support numerous prominent blockchains as we fulfil our mission of converging blockchain and gaming, subsequently enabling token economies to leverage the power of IGGalaxy’s thriving and engaging community.
IGGalaxy is our web platform (which will also be shortly deployed as an app), that will serve as a valuable tool to bring together key stakeholders within the esports and wider gaming industry, facilitating exchange of value to unlock a multi-billion-dollar market.
IGGalaxy entered it’s public beta phase in late December, offering a platform for gamers to participate in tournaments of popular esports games, such as Call of Duty, Fortnite and FIFA. All participants receive IG Gold (IGG) tokens for taking part and as rewards.
Whilst in public beta, IGGalaxy has already hosted collaborative tournaments with high-profile brands like Mixtape Madness, Wall of Comedy and Celtic FC. After a great start to 2020, we have since continued that momentum, adding 97,000+ — since March — taking the total registered users to over 100,000. Thousands of gamers are entering IGGalaxy to participate in the daily tournaments in a variety of esports games.
IGGalaxy public beta sign-ups: December 2019-August 2020!
Through the innovative application of blockchain technology within our social competitive gaming platform, we are developing an incentivised token economy that serves to reward participants for the time and value they add to IGGalaxy. No longer will players need to worry about receiving their rewards from competition organisers. No longer will teams be able to take advantage of players. IGGalaxy will provide a trusted platform that will create opportunities for millions of gamers around the world.
TRONSCAN shows that the IGG token already has over 30,000 holders and 1 million transactions. With over 95% of our current user base new to the technology, IGGalaxy is clearly encouraging the adoption and use of cryptocurrency by gamers who are creating wallets and interacting with crypto assets for the very first time!
Coinbase and Binance, two of the biggest names in cryptocurrency, have both shown great support of the Matic Network’s a Layer 2 protocol for fast and scalable transactions.
Matic Network is the leading Layer 2 solution to Ethereum’s gas and congestion crisis that ensures scalability through side-chains, whilst preserving asset security. This is made possible by Matic’s use of a hybrid model that includes the Plasma framework as well as a decentralised network of Proof-of-Stake (PoS) validators.
With its first root-chain being Ethereum, Matic ensures the security of the digital assets on side-chains via the Plasma framework and a decentralised network of PoS validators with the chain’s operators being stakers in the project’s PoS system, enabling fast deposits and withdrawals of ERC20, ERC721 and ERC1155 tokens from Ethereum mainnet.
Intergalactic Gaming is at a pivotal point in our developmental roadmap, and so identifying the right network is fundamental to our continued success. Below, we have provide a run-down of why the Matic Network prevails as the ideal destination for IGGalaxy.
Matic, through sidechains, provides infinite scalability. The requirement for fast, low-cost and secure transactions is vital. At the moment, in our public beta, we have an average of 30 tournaments a week, working out to 1,000+ transactions; the speed at which we reward our users is what makes IGGalaxy stand out from the rest. Looking to the future, we expect a significant increase in the transactions within IGGalaxy as more features are deployed and competitive infrastructures mature.
During their internal testnet, Matic achieved 7,200 transactions-per-second (TPS). Now, on a single tree architecture on Matic can scale to millions of transaction, as the network boasts up to 65,000 TPS on a single Matic chain. This is drastically faster than TRON (current/max, 24/748).
Cost of Transactions
Transaction costs are an important part that impacts our decision behind which blockchain platform serves as the ledger layer for IGGalaxy. Matic network provides extremely fast and secure transactions at a significantly lower cost compared to Ethereum and even TRON! Of course, this will ultimately provide a better experience for our users.
A good user experience is a rapid accelerator towards adoption, and the Matic Network is undeniably leading the charge on this. Matic offers great user experience for developers allowing for seamless abstraction from the Ethereum mainchain to Matic chain. This has been demonstrated by the vast number of DApps opting to develop on Matic.
Furthermore, when users participate in IGGalaxy, interacting with cryptocurrencies and blockchain technology for the first time, user experience is imperative. We believe Matic will provide our growing user base with a far superior experience in IGGalaxy, particularly as the network matures.
IGGalaxy bringing social competitive gaming and esports to Matic!
With the article released yesterday by Cointelegraph, many have speculated why we have decided to make this move. This section should provide sufficient clarity on the rationale behind our decision.
Why not TRON: Reputational Risk
We will always have an affinity to TRON; it is one of the first projects in the blockchain space that we fell in love with, after all. We fell in love with the vision but more importantly the community. It provided the ideal platform for IGGenesis and we are grateful for that. It will always be remembered in the history of IGGalaxy.
However, the decision to migrate IGGalaxy’s core blockchain architecture to Matic is purely strategic. It is simply the better choice for IGGalaxy. We strongly believe that over the next few years, Matic will surpass TRON as real products with exciting use cases are built on Matic.
To better understand our position: as a business, our reputation and therefore the reputation of those that we associate with is critical. Reputation is what builds trust and allows brands to maintain an advantage over their competition. It is that trust that subsequently allows us to establish and maintain meaningful relationships with our users and partners.
TRON’s wide spread negative reputation is no secret. We have concluded that the actions and direction of the TRON Foundation, do not align with the values and direction of Intergalactic Gaming.
IGGalaxy has been developed with TRON’s network serving as our primary ledger layer. Over the past two years, we’ve advocated the technology and brought exposure to the network. Naturally, as advocates of TRON’s technology — and what they had promised — we are disappointed to have had to even consider migrating.
After very careful consideration it became apparent that, in the best interest of IGGalaxy, we must consider alternatives.
For IGGalaxy, migrating and evolving our core blockchain architecture on Matic provides a number of benefits. With it’s compatibility with Ethereum and EVM, Matic is completely interoperable with Ethereum and therefore building on Matic provides everything that comes with the second largest blockchain platform in the world.
This includes vast development tools — our development team have been extremely excited about — compared to what was available on TRON. This will allow us to build exciting features and develop new opportunities, enhancing the value provided by IGGalaxy. For example, we will be able to ensure our users can transact inside IGGalaxy solely with IGG without the need for an additional token for energy/bandwidth.
With multiple chains set to be added for horizontal scaling, coupled with the expected capacity at which we have forecasted IGGalaxy to be operating at in the next five years, this migration undoubtedly exploits the natural synergies between Intergalactic Gaming and the Matic Network.
IGGalaxy: Validator on Matic
From this collaboration, IGGalaxy will operate a validator node on the Matic Network mainnet, primarily contributing to the security of the network, but also to support Matic’s 70-plus-and-growing DApp ecosystem.
We are excited to play a role in Matic’s decentralised governance mechanism that is rapidly growing!
IGGalaxy now operating a Validator node on the Matic network mainnet
With the migration to Matic and interoperability with Ethereum, we will be able to list on Uniswap very quickly. For those unaware, Uniswap is a decentralised exchange that has gained significant attention as it has drawn more users and volume than many top centralised exchanges.
Through this listing and provision of liquidity, we can ensure there is a fiat gateway for IGG in IGGalaxy where users can directly purchase and sell IGG with traditional payment methods. This will significantly enhance our user’s experience.
Below, we have provided insight into pertinent aspects related to this migration.
IGWallet will soon become multi-chain, supporting both TRON and Ethereum based tokens. As we migrate our core infrastructure to Matic, including our tokens, you will be able to easily swap your tokens via IGWallet with a few clicks.
There will be a swap functionality within IGwallet enabling the swap of our native TRC20 token IG Gold (IGG) to the new ERC20 IGG tokens that will exist on the Matic chain. Our users will have the ability to swap all relevant tokens in IGGalaxy, including IGG, ORB, GFT, PRO, etc. This will happen in October once the migration is complete. It is worth noting that this swap is one way TRON → ETH/MATIC.
With long-term adoption in mind, we are provided with a great opportunity to develop our IGLabs feature on a much cheaper, more scalable network. Currently, the price of creating an IGLabs capsule is ~5 TRX, which subsequently presents a limitation for our end users. To reaffirm the fact that at least 95% of our current player base is new to cryptocurrency, having to purchase TRX is challenging. Transactions on Matic is three times cheaper than those on TRON, which again, means we can better serve our growing user base.
What does this mean for freezing IGG tokens?
We will announce a final date in due course, but by the end October, all tokens deployed in IGLabs capsules must be ERC20 IGG tokens. Therefore, you must swap your tokens before deploying further capsules.
Please note that this will not affect any IGG currently stored in capsules. Any ORB tokens you receive from frozen TRC20 IGG tokens after the date, will therefore have to be swapped to ERC20 ORB tokens via IGWallet’s token swap feature.
Ask the IG co-founders!
As we are sure many of you will like to hear from our co-founders in light of our recent migration from the TRON network. If you would like to leave a question for our co-founders relating to the future of IGGalaxy on Matic Network, you can do so in this form.
Speaking on their partnership, Naeem Shabir, Co-Founder of IGGalaxy commented: “Providing a seamless user experience is necessary for blockchain adoption by the mainstream, and Matic Network is undeniably leading the charge on this front. Leveraging Matic’s high throughput and cost-effective network will be crucial in achieving our mission to establish IGGalaxy as the place for social competitive gaming and esports.”
Josh Robson, Co-Founder of IGGalaxy also adding: “We’re very excited to join the Matic ecosystem and become part of the community. The Matic team have plainly demonstrated their strong values and drive, which has been really exciting to see. We have no doubt that this partnership will provide a meaningful relationship for both ecosystems as we, together, take strides towards converging gaming and blockchain to *enable* worldwide adoption.”
“Our long-term collaboration with IGGalaxy will accelerate our mutual goal of bringing blockchain to the masses” remarked Sandeep Nailwal, COO and Co-Founder of Matic Network.
He expanded on the importance of the partnership, stating “gaming is set to be a major entry point for the mainstream user to experience blockchain technology. IGGalaxy is expanding rapidly, attracting an impressive number of gamers with their innovative combination of esports and tokenized incentives. We look forward to working alongside IGGalaxy to revolutionize the esports industry.”
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