Polygon: Ethereum’s Friend Is Looking To Make Big Strides
In a time of many new crypto coins, platforms, and contracts, Polygon is starting to pave a way and rise to the throne of Ethereum layer 2s. Polygon, formerly known as the Matic Network, is a scaling solution that aims to provide multiple tools to improve the speed and reduce the cost and complexities of transactions on blockchain networks. With recent headlines surrounding both Polygon and correlating Ethereum, it’s wise to get an in-depth perspective on Polygon’s market positioning for those interested in Ethereum alternatives. Related Reading | Why Cardano Is....
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Scaling solution Polygon has stepped up its Zero-Knowledge (ZK) proof ambitions. According to an official post, a startup called Mir will collaborate with Polygon and has invested a staggering amount of $400 million. Related Reading | Polygon: Ethereum’s Friend Is Looking To Make Big Strides Mir and its team of experts will join the scaling solution to implement their ZK Rollup technology, developed for over two years. The startup was founded by Brendan Farmer and Daniel Lubarov, and its team, comprised of people with backgrounds in pure math, cryptography, and engineer, will be....
What’s going on at Polygon? There seems to be a disturbance in the force over there. Is the Ethereum Layer 2 project alright? Are they doing everything above board or is there something sinister going on? Are they even decentralized if they can hard-fork just like that? Or did they follow the proper procedures and their critics are just uninformed? Can we even answer all of those questions? Probably not. But we can present all the information available and let you all get to your own conclusions. https://twitter.com/NathanWorsley_/status/1471097609486016512 Let’s start with DeFi Builder....
Polygon is building a Layer 2 aggregator for sidechains, rollups and even whole blockchains in a bid to fix Ethereum’s transaction limitations.
Ethereum’s scalability solution Polygon will implement this network update in its fee model via EIP-1559. According to an official post, this upgrade will introduce a burning mechanism for MATIC and will improve its fee visibility. Related Reading | Polygon Expands Its Footprint As Evolving NFT And Gaming Ecosystems Seek Ethereum Alternatives Ethereum introduced EIP-1559 with Hard Fork London back in 2021. The update was highly anticipated as it was supposed to aid mitigate Ethereum’s congestion issues and made fee more predictable. Some users even claimed the update was going to....
Popular social media platform Reddit will launch a new feature called Collectible Avatars. These blockchain-backed items are non-fungible tokens (NFTs) running on Ethereum’s second-layer scalability solution Polygon. Related Reading | How This Elon Musk Company Has Enable DOGE Payments For Las Vegas Transportation The social media platform has tested the feature since January 2022, but rumors […]