Matchain partners with AML blockchain to help fight against fraud

Matchain Overview - January 15, 2025

Jan 15, 2025

Welcome to the Matchain Overview. A one-stop-shop for the Matchain community to get up to speed on the network’s latest updates, metrics, releases, insights, ecosystem developments and more. All in one place.

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Matchain by the numbers

Network’s daily transactions: 2.91M (+22.79%)
Network’s total transactions: 233.2M (+21.02%)
Total number of wallets: 22M (+3.77%)
Active Accounts: 1.42M (+14.52%)

The metrics are accurate at the time of publication. The percentage change is over a 14-day period.

Exploring the chain

🔥What we’re watching: Matchain announced a partnership with Match Systems, a blockchain security and AML service provider, to integrate it into MatchID.

🔥Why it matters: Through this partnership, Match Systems’ monitoring tools can enhance users' MatchID security with tools that protect their onchain assets and counter fraud.

MatchID was created to secure digital identities with a decentralized identity (DID) registration system to help easily integrate web2 users to web3, while also securely bridging interactions across multiple blockchains. The DID system is intended to focus on security by utilizing zero-knowledge proofs, which keeps one’s identity and data private.

This integration will give MatchID users access to Match Systems’ expertise for investigating fraud incidents and recovering stolen assets. It will also alert users when they’re interacting with suspicious or fraudulent addresses, similar to many credit card companies. Additionally, there’s benefits solely for MatchID users like the ability to report fraud for a fee as well as access to crypto security lessons to protect assets.

With this collaboration, web3 users can better safeguard their personal information against unauthorized access points and breaches within Matchain’s DID ecosystem. These security protocols and new user-centric features can improve the security infrastructure of MatchID, creating a safer and more trustworthy platform for users and devs.

🔥The bigger picture: Security risks and fraud have been prevalent since the inception of crypto. Bad actors have found ways to commit hacks and fraud, resulting in massive distrust in the space. In 2024 alone, $2.2 billion was stolen from crypto platforms, according to Chainalysis.

Tools like MatchID can help address these security threats by providing monitoring, incident response, and asset recovery solutions. These tools can help protect users' onchain assets and create safer trading environments, reduce fraud and improve general trust in the crypto industry.

By improving asset protection and user experiences, Matchain and Match Systems can help set a new standard for user security in web3.

Highlighting the Matchain Ecosystem

Matchain ranks second among all L2s for total unique active wallets in the past 24 hours, according to DappRadar
Orochi Network's data Orocle (oracle) is live on Matchain
Listen to “The Benefits of Inca NFTs” AMA with the Matchain team on X
Learn more about how Blockchain Web Services is leveraging Matchain for batch processing transactions

Check out the Matchain blog for more updates.

Join in the fun

Want to dive deeper into the Matchain ecosystem?

Meet the Matchain team at Wagmi Miami Crypto Conference on January 22
Learn how you can claim a “Megadrop Badge” via a Matchain Telegram mini app
Earn Match Points by completing tasks via MatchQuest

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This product was built by Token Relations.

This information is for entertainment purposes only. It should not be considered financial advice, nor should it be used to make investment decisions. Cryptocurrencies are high risk and you should consult a financial professional before making any financial decisions. Make sure you do your own research.