Browsing:Polygon

The Polygon team has taken a significant step towards enhancing the decentralization of its ecosystem by announcing a new governance model.
7 months ago 2 mins read

Polygon Introduces Ecosystem Council in Innovative Governance Model

The Polygon team has taken a significant step towards enhancing the decentralization of its ecosystem by announcing a new governance model. In line with its roadmap for Polygon 2.0, which focuses on zero-knowledge-powered Layer 2 chains, the team aims to empower stakeholders to actively shape the network’s future. This new governance framework is designed to foster community collaboration and decision-making, drawing inspiration from Ethereum’s successful governance models. The cornerstone of the new governance model will be built upon “three governance pillars.” The first pillar will oversee the governance of the core protocol, ensuring a transparent and efficient decision-making process. The

Vitalik Buterin and Polygon Co-founder Direct $100M towards COVID-19 Research
9 months ago 2 mins read

Vitalik Buterin and Polygon Co-founder Pledge $100M for COVID-19 Research

Ethereum co-founder, Vitalik Buterin, has joined forces with India-based crypto fund Crypto Relief and Polygon co-founder Sandeep Nailwal to contribute $100 million towards COVID-19 research and medical infrastructure development in India. In a significant move, Buterin and Nailwal will receive $90 million in USD Coin (USDC) from Crypto Relief, while Buterin himself will contribute an additional $10 million. Collaboration for COVID-19 Relief Vitalik Buterin and Sandeep Nailwal have come together to support COVID-19 research and medical infrastructure in India. Crypto Relief, a community-run fund in India, will transfer $90 million in USD Coin (USDC) to Buterin, ensuring compliance with local

Polygon (MATIC) has faced challenges as its exchange supply
9 months ago 1 min read

Polygon Exchange Supply Soars Following Whale’s Large Deposit

Polygon (MATIC) has faced ongoing challenges as its exchange supply, specifically, the amount of MATIC tokens stored in centralized exchanges, experienced a significant spike. This surge in supply is largely attributed to a substantial deposit made by a single whale, adding approximately $95 million worth of MATIC to Binance. The increase in the supply of MATIC on exchanges suggests a higher number of coins being deposited, potentially indicating a trend towards selling. This bearish sentiment can exert downward pressure on the cryptocurrency’s value. Conversely, a decrease in exchange supply signifies investors withdrawing their coins, possibly indicating accumulation and presenting a

Polygon (MATIC) network has attracted a lot of attention from the DeFi community
9 months ago 5 mins read

Polygon (MATIC) Top Partnerships with Big Companies

Polygon (MATIC) is a layer-2 scaling solution for Ethereum that aims to improve the scalability and speed of the network. It does this by using a variety of techniques, including sidechains, optimistic rollups, and zk rollups. Polygon has attracted a lot of attention from the DeFi community, and it has partnered with a number of major companies. Here are some of Polygon’s top partnerships with big companies: These are just a few of Polygon’s top partnerships with big companies. Polygon has also partnered with a number of other projects, including SushiSwap, SushiSwap, and The Sandbox. These partnerships are helping to

Introducing Polygon's Zero-Knowledge Identity Verification Tool
12 months ago 1 min read

Polygon Launches Zero-Knowledge Identity Verification System

Polygon, a blockchain company that specializes in scaling systems for Ethereum, has launched a new zero-knowledge (ZK) technology-based identification tool called Polygon ID. The company has created the tool to help users verify their identities and credentials without revealing sensitive information. Zero-knowledge technology is a form of cryptography that eliminates the need for users to provide personal information routinely to different online applications or websites. This development has been seen as a significant use case for blockchains for quite some time. Polygon ID’s design ensures that identity holders have claims stored in their wallets, while verifiable credentials are cryptographically signed

Polygon Labs, the company behind Ethereum's popular Layer-2 scaling solution, has announced a reduction in workforce by 20%.
1 year ago 1 min read

Polygon Labs Cuts Staff Amid Economic Uncertainty

Polygon Labs, the company behind Ethereum’s popular Layer-2 scaling solution, has announced a reduction in workforce by 20%. The decision to downsize was made as part of Polygon Labs’ consolidation process, in which multiple business units were merged. The layoffs will affect around 100 positions across multiple teams. Despite the tough decision, Polygon Labs has offered all affected employees three months of severance pay, regardless of their level of tenure. The announcement comes amid a wave of layoffs among crypto companies, all affected by the recent collapse of the FTX exchange. Filecoin developer Protocol Labs cut 21% of its staff

Mainnet beta launch of Polygon's zkEVM Layer 2 slated for March
1 year ago 1 min read

Polygon’s zkEVM Layer 2 set for mainnet beta release in March

Polygon is set to launch its new Layer 2 scaling solution, zkEVM, on March 27 with the aim of expanding the scaling capabilities of the Ethereum network. This zero-knowledge or ZK-Rollup scaling solution is expected to perform off-chain computations on a secondary layer, prioritizing security and enabling faster and cheaper transactions. According to Polygon, its zkEVM is equivalent to Ethereum’s Virtual Machine, meaning that the network is expected to support the same code as Ethereum. This allows developers to onboard apps from Ethereum and use them on Polygon’s zkEVM network without making significant changes. Polygon has been working on the

Polygon Matic
1 year ago 1 min read

Polygon (MATIC) explained in simple terms

Polygon (formerly known as Matic Network) is a blockchain platform that provides a suite of tools and services for building and deploying decentralized applications (DApps). Polygon is designed to be an easy-to-use and scalable platform that enables developers to quickly and efficiently build and deploy DApps on the Ethereum network. Polygon uses a hybrid proof-of-stake and proof-of-authority consensus mechanism, which allows for faster and cheaper transactions than other networks. The platform also offers a range of services, such as security audits, developer tools, and community support, to help developers build and launch DApps on the Polygon network. Overall, Polygon is

BitPay will begin accepting polygon-bridged cryptocurrencies like Ether, USDC, DAI, and wrapped Bitcoin later this week.
1 year ago 1 min read

BitPay launches USDC and ETH payments over the Polygon network

BitPay will begin accepting polygon-bridged cryptocurrencies like Ether, USDC, DAI, and wrapped Bitcoin later this week. On October 26, BitPay and Polygon announced the integration of Polygon on the BitPay app, allowing clients to spend Polygon-bridged ERC-20 tokens. Later this week, the BitPay app will explicitly prepare to allow payments in tokens such as the Polygon-based USD Coin (USDC). Circle created the USDC stablecoin on the Ethereum blockchain before transferring it to Polygon via the Polygon Bridge in June 2022. The Polygon USDC token is not the only Polygon-bridged token coming to BitPay. Bill Zielke, BitPay’s chief marketing officer, informed