Search Results for: Poly Network

Google’s entry into the Polygon PoS network could lift the blockchain’s credibility and promote mainstream adoption. But worries about centralization arise, potentially favoring powerful players over blockchain’s spirit of decentralization. With Google Cloud as a validator, maintaining a balance between corporate involvement and the founding principles of decentralization is essential.

Ondo Finance, an asset tokenization platform, is extending operations to the Polygon network. This expansion aims to meet increasing demand for tokenized financial instruments like US Treasuries, given their higher yields compared to decentralized finance markets. Ondo’s tokenized US government bond and intended yield-generating stablecoin will port to the Polygon network, a move mirroring asset management giant Franklin Templeton’s strategy.

“Polygon, a renowned Ethereum layer 2 scaling solution, is entering a new phase of development, marked by significant shifts in its leadership. Co-founder Jaynti Kanani steps back, while Marc Boiron becomes CEO, in sync with Polygon’s transition to Polygon 2.0, which bring substantial technological innovations in blockchain systems.”

Google Cloud’s partnership with Polygon, an Ethereum Layer 2 protocol, strengthens the growing trust in blockchain’s role in our digital future. Google’s entry as a validator bolsters security, and implicates its infrastructure employed by high-traffic platforms, as part of web3 collaborations.

Blockchain oracle network, Chainlink, has integrated its Cross-Chain Interoperability Protocol (CCIP) into the Coinbase layer 2 network, Base, enabling developers to create web3 products and launch transactions across different networks. This step advances the adoption of innovative crypto products, as Chainlink’s move towards cross-chain lending expands. However, the challenge of potential centralization criticism remains.

Alpha, a new decentralised social network protocol, is making its entry into the Bitcoin blockchain, enabling users to benefit from their digital profiles and content creation via social tokens. Unlike its rival, Friend.tech built on Ethereum, Alpha utilises Polygon blockchain for data preservation and Bitcoin for its scaling network, offering added scalability, security, and efficiency for launching decentralized applications. Amidst increasing interest, Alpha’s future looks promising, potentially transforming the rules in the blockchain universe.

Ethereum layer 2 developer, Polygon Labs, commences Polygon 2.0 ecosystem aimed at establishing an interconnected Ethereum system with high throughput and low fee transactions. This ecosystem evolution highlights the adaptability of blockchain technology but raises questions about the impacts on established contracts and practices.

Polygon co-founder Sandeep Nailwal believes strongly in the potential of zero-knowledge proof (ZK-proof) technology for Ethereum scaling, as evidenced by allocating $1 billion towards its development. Nailwal proposed a unified scalability system where recursive ZK-proof technology merges different blockchain ZK-proofs into a common layer, dramatically improving cross-chain transaction times.

“Manta Network has launched its zero-knowledge proof layer 2 scaling network, an innovative platform for ZK-enabled DApp development. This introduces increased throughput and reduced gas fees, promising future DApps realm expansion. However, challenges and regulatory issues, as highlighted by the Celsius incident, suggest the need for careful navigation in blockchain tech.”

“Chronicle, the second-largest oracle provider, is set to expand its services to other networks, thereby introducing more competition to the oracle landscape. The Chronicle Protocol aims to reduce gas fees by 60% envisioning higher platform utilization and maintaining uncompromised data integrity with data origin monitoring user dashboards.”

Ethereum scaling firm Polygon has unveiled a toolkit for blockchain developers to create customized Layer 2 chains with zero-knowledge (ZK) proofs. This opens up potentials for evolving ‘Supernets’ using the firm’s ZK technology, aiming to build the “Value Layer of the internet”.

“The y00ts NFT project is migrating from Polygon to Ethereum blockchain to strengthen ties with the DeGods community. The move includes returning a $3 million grant from Polygon and aims to merge the DeGods and y00ts collections, previously debuted on Solana.”

Top NFT collection, y00ts, has announced its intention to migrate away from Polygon and return a $3 million grant, aiming to align with DeGods community. The move, offering a timeline soon, has sparked various reactions within the crypto community.

Palm Foundation, with support from Polygon Labs and Consensys, is developing a Polygon Zero Knowledge Supernet to simplify onboarding and expand its NFT infrastructure. The plan includes addressing governance through Decentralized Autonomous Organizations and enhancing transaction speed while maintaining low gas fees. The initiative, targeting broader Web3 user-base, will complete its migration to a ZK Supernet by 2024.

“Manta Network, backed by P0x, has reached a valuation of $500M after a recent funding round. This funding aims to boost scalability and user base, and increase overall utility. P0x revealed plans to launch Manta Pacific, featuring decentralized applications (dApps) enabled by zero-knowledge (ZK) technology, enhancing privacy and security in the DeFi community.”

“Polygon 2.0 is an ambitious project aiming to democratize blockchain governance through community participation. The project proposed the overhaul of the existing governance mechanism, planning to install several layer-2s backed by a comprehensive governance structure. These changes look to promote community involvement, streamline upgrade implementations, and establish a Community Treasury for ecosystem growth.”

“Manta Network’s developer, p0x labs, recently accrued $25 million in the latest Series A round. This investment supports infrastructure projects like Manta Network which focuses on zero-knowledge applications, safeguarding transaction privacy. With a valuation of $500 million, the funds intend to scale the network, reaching more users and enhancing Manta Pacific—boosting growth in pivotal Asian markets.”

Polygon Labs plans to restructure the governance of its upcoming Polygon 2.0 roadmap. The system will be based on three primary pillars: democratization, System Smart Contracts Governance, and Community Treasury. Each pillar allows for community involvement and transparency, aiming to create an ecosystem that is community-driven and encourages progress in the technological landscape.

Polygon, an Ethereum scaling solution, plans to change its native token from MATIC to POL. Touted as a “3rd generation token”, POL optimizes user experience across the protocol’s layer 2 ecosystem and enables holders to earn rewards as validators across multiple chains. This change prompts validators to embrace multi-chain roles, yielding varying rewards and potentially significant benefits.

Polygon Labs, known for its innovative blockchain efforts, has initiated strategic leadership changes, aligning with their transition towards “Polygon 2.0”. Devoting efforts to unifying Polygon chains via a “coordination layer”, they also plan to upgrade their legacy “PoS” chain for a compatibility with zero-knowledge proofs, advancing their commitment to confidentiality of transactions while bearing potential complexities and security risks.

Warner Music Group and Polygon Labs have collaborated to launch a music accelerator program that fosters innovation in the intersection of music, technology, and Web3. The initiative supports decentralized music projects on the Polygon network, aiming to transform the distribution of music, stimulate artist-fan communities, and explore music-related merchandise opportunities.

Polygon Labs introduces no-code AI platform, Polygon Copilot, to simplify understanding of Polygon (MATIC) for blockchain enthusiasts. This AI-powered guide extracts insights from public documentation and Web3.0 content, catering to diverse user needs in NFTs, DApps, gaming, DeFi, and social networks. Despite potential drawbacks, Polygon Copilot aims to bring accessibility to the complex world of blockchain technology.

Polygon co-founder Mihailo Bjelic proposes an upgrade to the Polygon PoS network, suggesting a shift to a “zkEVM validium” version for increased security through zero-knowledge proofs. This upgrade would enable Polygon zkEVM for high-value transactions, offering lower fees and enhanced security from Ethereum’s features, targeting applications like Web3 gaming and social media.

The Polygon Labs engineering team proposed an upgrade to Polygon Proof-of-Stake (PoS) sidechain, transitioning to ‘zkEVM Validium,’ an Ethereum-secured Layer 2 network secured by zero-knowledge proofs. Targeted for Q1 2024, this upgrade aligns with Polygon 2.0’s vision and aims to enhance scalability, security, and interoperability within the broader cryptocurrency ecosystem.