Tag Archives: Polygon (Matic Network)

Ethereum pulled off a stunning technical upgrade that saw the popular blockchain transition to the proof-of-stake consensus model for processing transactions after six years of work. However, post-merge activity on layer-2 has dropped. According to the latest stats by Dapp Radar, the already descending unique active wallets and transactions have further dropped by 35% from August to September. A similar trend was seen in terms of Ethereum’s TVL, which fell by 5.6% to $31.41...

As more and more users are entering the Web 3 space, scaling has become one of the most interesting conversations. Move over Layer 1 and Layer 2. The latest beef is between Subnet and Supernet. Polygon co-founder Sandeep Nailwal took a jibe at Avalanche’s leadership, calling it “insecure” and “resorting to shit talking.” Subnet and Supernet It all started when Polygon announced Supernet to accelerate the adoption of layer 2 as well as blockchain technology. The new...

San Francisco-based fintech giant Stripe announced its latest advance into cryptocurrency by partnering with Twitter. According to the new pilot program, Stripe will let a small group of creators send and receive payments in USDC via its payment platform, Connect. Creators can thus directly manage their account details through the Stripe Express app. Stripe’s Crypto Payment Push The company stated in a blog post that Twitter will be the first company to integrate the new...

Polygon Network recently announced intentions to offset its carbon footprint this year. The blockchain project revealed that it had pledged $20 million toward its plans of becoming carbon neutral and climate effective. As per the announcement, Polygon noted that it aims to implement a multilayered strategy targeted at creating a sustainable future for its ecosystem, the crypto industry, and the planet at large. The Green Manifesto Polygon also unveiled its “Green Manifesto: A...

Venture capital firm Sequoia Capital led a financing round for the Ethereum layer 2 scaling solution Polygon, becoming the latest Silicon Valley company to invest in the Web3 space. According to CNBC on Monday (February 7, 2022), Polygon recently raised $450 million, with Sequoia Capital leading the investment. Other companies involved in the fundraising round include Softbank, Alameda Research, Tiger Global, and Galaxy Digital. Prominent individuals such as Reddit co-founder...

Leading Ethereum layer-2 scaling solution, Polygon, announced today that the much-awaited Ethereum Improvement Proposal (EIP) 1559 upgrade will go live on the mainnet next week. Polygon’s London HardFork Set to go Live In an official announcement on Wednesday, the India-based project noted that the upgrade, which will initiate the burning of MATIC, is scheduled to go live on the mainnet on January 18, 2022 at about 8 a.m. UTC. The EIP-1559 upgrade, commonly known as the...

Multi-sector blockchain protocol Terra (LUNA) has announced a proposal to deploy $139 million to five different DeFi projects across Ethereum, Solana, and Polygon to enhance UST’s use cases. The proposal, however, needs to be accepted by the Terra community through a vote of governance participants that’s likely at a later date. Terra as a Dominant Crypto Player The details of how UST and LUNA worth $139 will be used on different DeFi platforms are contained in the document...

Bugs and vulnerabilities are part of a blockchain network. Polygon revealed how it dodged a bullet after detecting a vulnerability, introduced a fix, upgraded the network, paid off a bounty to the whitehat hackers, all with a silent patch. Polygon’s Silent Patch According to the latest blog post by the team, it all started when two whitehat hackers informed the bug bounty platform, Immunefi of an issue in the Polygon PoS genesis contract on December 3rd. The vulnerability in...

The co-founder of Reddit continues with his cryptocurrency involvement with a new joint venture with the popular blockchain project Polygon to help developments in the Web3 sector. The press release shared with CryptoPotato informed that Seven Seven Six and Polygon plan to deploy $200 million for this new initiative. It will support startups aiming to work on social media platforms and Web3, or as the statement described them – protocols “exploring better ways for humans to...

The global investment manager – VanEck – expanded its cryptocurrency offerings by adding two new Exchange-Traded Notes (ETNs) tracking the performance of Avalanche and Polygon. The company has already launched such products on Bitcoin, Ethereum, Polkadot, Solana, and Tron. Avalanche And Polygon ETNs Joined The List The global investment management company – VanEck – disclosed the news in a recent post on Twitter. As a result, investors will be able to gain exposure to Polygon...