The MATH Global Foundation has announced a blockchain designed to make transactions cheaper and easier for everyday users
Singapore-based MATH Global Foundation, best known for releasing the multi-chain crypto wallet MathWallet, announced yesterday the development of the Layer 2 blockchain MathChain. Built on Substrate, MathChain is part of MATH’s broader goal to create a multi-chain asset hub.
MathChain is designed to meet everyday users’ needs for Layer 2 networks and focuses on three main objectives. First, it aims to lower the access barrier for ordinary users. To that end, MathChain introduces the SmartChain Wallet, allowing individuals to create a decentralized wallet using their social platform accounts.
Second, MathChain connects Layer 2 networks through a product called MathHub. This enables users to exchange assets across chains with low-latency transactions, leveraging cross-chain capabilities.
Finally, MathChain will make blockchain payments more affordable for everyday users through its MathPay solution. Transaction fees are reduced while transaction speed is maintained via the Nominated Proof-of-Stake protocol used by Polkadot.
MathChain will include a module called SecretStore, responsible for automated distributed key management. The smart wallet developed on MathChain will be easier to use because it supports backups that can be recovered via social media accounts, removing the need for private keys or memory aids.
The MATH Global Foundation is also designing a data wallet called PolkaVault. PolkaVault will combine a Filecoin-based storage network with MathChain’s encryption management to create a secure personal data bank.
Eric Yu, Chief Technology Officer of MathWallet, said: “We believe MathChain will bridge Web 2.0 and Web 3.0, lowering barriers for new crypto users and rebuilding core infrastructure—wallets, app stores and data stores—within the emerging Web 3.0 metaverse.”
So far, only the Galois Testnet for MathChain has been released, and a MATH airdrop for existing MathWallet users is planned for the future.