Polkadot vs. Polygon: Understanding Two Prominent Second Layer Ethereum Block...
The meteoric rise of decentralized finance across 2020 exposed numerous vulnerabilities with the Ethereum network. While the Ethereum blockchain is one of the most secure and ‘battle-hardened’ infrastructures, high gas costs and scalability issues have led some projects to innovate instead of waiting for the long-desired Ethereum 2.0. Second-layer solutions have gained notoriety lately as companies endeavor to reduce gas fees and foster Ethereum scalability by shifting transactions to sidechains. Polygon, a recent rebrand of […]
Related News
The Layer-two protocol plans to become an aggregator and interoperability facilitator for Ethereum scalability solutions. The Matic Network, a project developing an Ethereum-based layer-two solution and an independent proof-of-stake blockchain, announced Tuesday that it would rebrand to Polygon. While the existing products and the token would remain largely the same, the new branding signals a strategic change to become a layer-two aggregator. Polygon is set out to support other Ethereum scalability solutions, notably Optimistic Rollups, ZkRollups and StarkWare’s Validium, in addition to....
Polygon developers are set to launch tools to enable the creation of Ethereum-compatible standalone chains and layer-two protocols. Polygon has announced the launch of its SDK stack that will allow developers to easily deploy their own Ethereum-connected blockchains. SDKs, or software development kits, are single installation packages containing tools necessary for seamless app creation.According to an announcement on Wednesday, the Polygon SDK contains several plug-and-play modules with custom-made solutions for parameters like consensus and synchronization. Apart from consensus and....
MATIC supply is likely to become deflationary once fee burning commences according to estimates by the Polygon team. The Ethereum upgrade that introduced a partial network fee burning mechanism in August last year has launched on the layer-two scaling network Polygon. Ethereum’s EIP-1559 upgrade shipped with its London hard fork last summer and has been a success in terms of gas price predictability and network fee burning. The upgrade has now launched on the layer-two scaling network Polygon in an effort to improve “fee visibility”. It went live about an hour ago at block 23850000.The....
On March 29, Polygon, the layer two (L2) scaling solution that runs parallel with the Ethereum blockchain, has announced a new identity platform called Polygon ID. While the protocol is is still under development, Polygon ID is powered by zero-knowledge (ZK) cryptography and Polygon expects a public version of the ID wallet app and software development kit (SDK) to release by Q2 2022.
Polygon Reveals ID Protocol Powered by ZK Technology
Polygon has introduced a new identity platform called Polygon ID that aims to bolster zero-knowledge identity for Web3 applications. In the....
Polygon claimed that the temporary halt by Binance was done to upgrade and synchronize the nodes as the bug issue has been resolved and the network is stable. Binance, the world’s biggest crypto exchange by trading volume, announced earlier on Tuesday that it will be temporarily pausing deposits and withdrawals for Polygon (MATIC) Network.The announcement came in the wake of the Polygon network’s outage since March 11 after a network upgrade. The crypto exchange noted that it would reopen the deposit and withdrawal features once the network becomes stable.Polygon network is a layer-2....