Zygot has formed a partnership with Matic network that will help to achieve multiple benefits like a secure P2P exchange of invoices, prompt transactions and high-throughput blockchain with low fees.
Calgary, Alberta, Canada, July 18, 2019: Top ERP company Zygot is pleased to announce its recent alliance with Matic Network. As part of the partnership, Zygot’s blockchain-based ERP solution ZERP will be integrated with Matic network to assure secured exchange of invoices for Zygot’s clients.
Please Note: This is a Press Release
Matic’s sidechains are Plasma-fied EVM sidechains which assure easy migration of Zygot into Matic Network.
Zygot aspires to enable invoice exchange in a decentralized manner for its existing clients powered by Matic’s blockchain along with PGP encryption and IPFS technology. The partnership with Matic will leverage Zygot’s ability to create a system for a secured peer-to-peer exchange of invoices.
“As Matic’s scalable infrastructure allows for fast and low-cost EVM transactions, we can deploy our invoice exchange feature without any backward-compatible issues. Using Matic along with PGP encryption and IPFS allows us to have a permission-driven data exchange on a fast blockchain. Such a combo helps to establish the trust factor for secured exchange of invoices for our clients. In fact, the invoice data, along with its status, will be hosted on Matic blockchain in a ‘permission-driven’ manner. It will take care of the fact that the confidential details of your invoice cannot be accessed by any random party without proper authorization. We are looking forward to a bright future with Matic network”
stated Denko Mancheski, CEO & Co-Founder at Zygot.
Zygot’s integration with Matic will further enable migration of many EVM-powered features and modules contained in the ZERP engine.
But these are not the only benefits that the Zygot-Matic partnership aims to achieve.
One of the most renowned names in the ERP scene, Zygot covers a massive number of around 400 client companies. Such huge user-base demands high-throughput blockchain with low (close to zero) fees. Matic promises to help here. Based on Zygot’s roadmap, the company has an estimated output of hundreds of transactions per minute from the users.
Matic Network has been developed as a Layer 2 scaling solution that achieves scale by utilizing sidechains for off-chain computation. The Network simultaneously ensures asset security using the Plasma framework and a decentralized network of Proof-of-Stake (PoS) validators.
“To achieve faster and low cost transaction, our Network offloads transactions onto its sidechains which have 1-second block times. Then, we subsequently batch proofs of sidechain blocks with Merkle root of the blocks to a decentralized mainchain (Ethereum), using a decentralized layer of PoS Stakers. Our system uses PoS checkpoints and when these checkpoints are pushed to Ethereum mainchain, they allow for an incredible 2 16 transactions per block, per second- for one single Matic sidechain. We support Zygot’s initiative to bring a next-gen blockchain ERP solution and together with our advanced scaling tech- SMEs will hopefully have access to an affordable ERP with data sharing through blockchain & smart contracts.”
added a spokesperson from the Matic team.
[In Frame (From Left) Sandeep Nailwal, COO, Matic Network, and Pankaj Kurumkar, CMO from ZygotERP]
About Matic
Matic is developed to solve the problems faced by the existing blockchain ecosystem via a decentralized platform, designed using an adapted version of Plasma framework. Such a state of the art infrastructure facilitates low cost as well as speedy transactions with finality on a mainchain. Matic’s alpha-Mainnet and Testnet presently works with Ethereum as mainchain. Matic can be dubbed as “Ethereum 2.0” which represents a more refined version of traditional Ethereum- imbibing the best of it yet without its typical issues.
About Zygot
Zygot is a premier ERP solution provider that has recently come up with a blockchain-based ERP platform called ZERP. ZERP is a modular, decentralized, open-source, community-oriented, marketplace-facilitated and modular ERP solution.
More information can be found on the Zygot’s website, Zygot.io and by following their social media accounts: Telegram, Twitter, Reddit, and Medium below:
- Telegram: https://t.me/ZygotERP
- Twitter: https://twitter.com/Zygot_erp
- Reddit: https://www.reddit.com/r/Zygot/
- Medium: https://medium.com/zygoterp
Media Contact:
- Pankaj@zygot.io