Polygon Labs Proposes Celo’s Transition to Ethereum L2 Using Their Chain Development Kit

Polygon Labs has officially proposed a technical upgrade for Celo, suggesting its transition from an independent EVM-compatible L1 to an Ethereum L2. This proposal was made public on September 21, just 9 hours after its initial announcement by SandeepN.

The Proposal in Detail

Polygon Labs’ recommendation revolves around Celo deploying an L2 using the Polygon Chain Development Kit (CDK). This open-source toolset allows developers to create their own ZK-powered L2 for Ethereum. It also facilitates the conversion of existing L1s to Ethereum L2s with minimal friction, emphasizing modularity.

Key Value Propositions of Polygon CDK

Enhanced Collaboration: By joining a robust ecosystem of ZK-powered L2s, there’s potential for increased cross-community collaboration.

EVM-Equivalent Environment: Developers can achieve the closest alignment with Ethereum technically possible.

Security: The system leverages Ethereum’s proven consensus layer combined with the security of zero-knowledge proofs.

Low Fees: Achieved through a zkEVM validium architecture and off-chain data availability.

Unified L2 Ecosystem: This merges the Ethereum mainnet and Polygon ecosystem into a single expansive economy.

Customizability: The system offers an app-chain stack and interoperability with all Polygon L2 chains.

Fast Transactions: Near-instant withdrawals and rapid cross-chain interactivity are secured by ZK.

High Standards of Support: Meeting the standards of major Web3 projects and Web2 companies.

Ethereum Alignment and Background in ZK

Polygon Labs has consistently aimed to scale Ethereum and its core values. With L2 and rollups on its roadmap, Ethereum’s future is geared towards scaling securely and seamlessly. Polygon Labs’ core developers have invested years in ZK technology to align closely with Ethereum. Innovations like the Plonky2 ZK proving system have enabled L2s to see reduced fees and finality times, all while inheriting Ethereum’s decentralization, security, and existing tooling.

Upgrade Value Propositions

The proposal addresses both the initial value propositions suggested by cLabs and unique value propositions unlocked by Polygon CDK. These responses delve into the technical value of deploying with Polygon CDK and position this decision within the broader efforts of scaling Ethereum.

Potential Impact on the Celo Community

Validators: The Polygon CDK offers deployment in rollup or validium mode, allowing current Celo validators to participate. They would either act as a data availability committee or as sequencers.

Developers: Developers will benefit from the EVM-equivalent nature of Polygon CDK, maximizing the network effects of Ethereum alignment.

Users: Transaction fee changes with Polygon CDK are expected to be minimal.

CELO Holders: CELO will remain the governing token of the Celo ecosystem, with holders retaining control over core smart contracts and the validator set.


Polygon Labs’ proposal aims to expand on the value propositions highlighted by cLabs for Celo’s upgrade to an Ethereum L2. The dialogue between Polygon Labs and the Celo community is anticipated to continue, with the shared goal of achieving optimal technical upgrades for the blockchain community.

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Polygon Solutions to Ethereum Scaling Challenges: An Overview

According to official blog of Polygon Labs, Ethereum’s scaling problem isn’t a new conundrum, with its history being almost as ancient as Ethereum itself. What makes Ethereum uniquely robust is its steady evolution, ensuring the chain’s safety and decentralization. But the question arises, how does Polygon aim to augment Ethereum’s scalability?

Understanding Layer 1 (L1) and Layer 2 (L2)

L1 and L2 are often termed as the “parent” and “child” chain respectively. While the L1 operates independently, L2 has certain dependencies on L1, primarily for security and transaction data storage. The essence of all Ethereum L2s is to process and execute transactions, effectively making L2 an execution layer. However, the responsibility of reaching consensus—verifying transaction data and updating all blockchain accounts—falls to L1.

Ethereum’s careful progression towards consensus prioritizes security over speed. As a result, any perceived “slowness” in Ethereum is a consequence of its emphasis on safety.

Layer 2: A Solution to the Blockchain Trilemma

A classic engineering rule states: one can achieve either two of good, cheap, and fast simultaneously. In the blockchain context, the pivotal elements are decentralization, scalability, and security. Given the significance of security and decentralization, L2 emerges as the primary solution to address scalability concerns.

While many L2s were still in their development phase, several intermediate solutions existed, each with its unique approach to the trilemma.

Different Approaches to Scaling

State Channels: Existing off-chain, these utilize an on-chain smart contract to allow users to deposit assets. The catch? They function without L1 interaction and require a higher trust level due to their distinct transaction validation and dispute resolution logic.

Plasma Chains: Plasma chains submit periodic transaction summaries to the L1 in the form of block commitments, requiring lesser trust than state channels.

Rollups: The fundamental difference between sidechains (like state channels and plasma chains) and genuine L2s is their security assurance. While sidechains use consensus mechanisms, L2s employ cryptographic proofs. Among rollups, ZK rollups leverage validity proofs, and optimistic rollups utilize fraud proofs. Interestingly, ZK proofs can confirm the authenticity of a transaction batch without divulging specific details—a feature that boosts scalability without compromising on security or decentralization.

Polygon’s Role in Ethereum’s Scaling

Polygon 2.0 envisions to cater to diverse use-case requirements, ensuring the scalability of each. The present Polygon protocols encompass Polygon PoS, Polygon zkEVM, and Polygon CDK, with the forthcoming addition of Polygon Miden. Notably, these chains are designed to be interoperable, allowing swift cross-chain transactions without needing a direct bridge to Ethereum.

Polygon PoS: Launched in 2020, this network has overseen more than 2 billion transactions from over ten thousand dApps, at an average transaction fee of just $0.015. Polygon Labs has plans to transform Polygon PoS into a zkEVM validium, which would effectively convert it into a true L2.

Polygon zkEVM: A ZK rollup that mirrors the Ethereum Virtual Machine (EVM), ensuring a seamless experience for Ethereum developers. Since its inception on Mainnet, it has processed over 5 million transactions from 400,000 unique addresses.

Polygon Miden: Another ZK rollup, but with a focus on a ZK-centric design. This design extends the capabilities of EVM, facilitating the development of applications challenging to realize on account-based systems like Ethereum.

Polygon CDK: An open-source kit to develop ZK-powered L2s, ensuring scalability, security, and sovereignty.

In essence, the evolution of the Polygon ecosystem is steadily aiding in the realization of a more equitable future through the mass adoption of Web3. To keep abreast of Polygon’s progress, enthusiasts are encouraged to follow the Polygon Labs Blog and other associated communication channels.

Disclaimer & Copyright Notice: The content of this article is for informational purposes only and is not intended as financial advice. Always consult with a professional before making any financial decisions. This material is the exclusive property of Blockchain.News. Unauthorized use, duplication, or distribution without express permission is prohibited. Proper credit and direction to the original content are required for any permitted use.

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OKX and Polygon Introduce Cryptopedia’s Seventh Season

OKX, in collaboration with Polygon, an Ethereum scaling and infrastructure development entity, unveiled the seventh iteration of Cryptopedia. Cryptopedia, OKX’s platform, is tailored to facilitate crypto-centric education with an earning component, according to press release shared with Blockchain.News by OKX.

Spanning six months, this season offers participants the opportunity to earn MATIC rewards, a gesture from Polygon. Additionally, those engaging in DApp interactive quests can avail themselves of extra rewards, presented by associated project partners. These quests aim to promote the utilization and understanding of the diverse DApps housed within the OKX Wallet.

To engage in Cryptopedia’s seventh season, users can initiate the OKX App, select the Wallet option, and either generate a new wallet or integrate a pre-existing one. Subsequently, they can tap on the Discover section and proceed to Cryptopedia: Learn to Earn. From there, they can interact with the Polygon zkEVM page and opt for their preferred DApp. After completing the quest, a verification can be done following a 10-minute interval.

Some of the quests include staking stMATIC to acquire DUSD, executing a cross-chain DUSD transfer, and offering liquidity for the DUSD/USDC pair on QuickSwap, among others. It’s worth noting that specific terms and conditions are applicable.

Simultaneously, OKX Wallet introduced the Discover Event, marking the debut of Token 2049 in Singapore. This event functions as a Web3 offline event aggregator, enabling users to explore, earmark, and register for various Web3 offline events. It also incorporates a streamlined NFT ticketing system.

Disclaimer & Copyright Notice: The content of this article is for informational purposes only and is not intended as financial advice. Always consult with a professional before making any financial decisions. This material is the exclusive property of Blockchain.News. Unauthorized use, duplication, or distribution without express permission is prohibited. Proper credit and direction to the original content are required for any permitted use.

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Polygon MATIC Launches Solution Provider Network (SPN) for Seamless Developer Collaboration

Polygon ($MATIC) has unveiled its Solution Provider Network (SPN) to revolutionize the way developers find and collaborate with solution providers within the Polygon ecosystem, according to official announcement. This transformative platform is set to simplify the process of connecting developers with essential infrastructure, such as oracles, bridges, RPC providers, and wallets, fostering accelerated dApp development and deployment.

Streamlining Developer Access to Essential Infrastructure

Creating a decentralized application (dApp) on the Polygon network is an enticing prospect for developers seeking a high-performance blockchain solution. However, the challenge lies in acquiring the necessary tooling and infrastructure to engage with real users effectively.

Building these components from scratch can be a time-consuming and resource-intensive endeavor, diverting developers from their primary project focus. To address this issue, Polygon introduces the Solution Provider Network (SPN), a comprehensive platform designed to facilitate real-time connections between developers and solution providers.

Unveiling the New SPN

SPN has undergone a significant overhaul to emerge as a collaborative and user-friendly discoverability platform. Its primary purpose is to connect developers and solution providers seamlessly, all within a unified environment.

Understanding SPN’s Functionality

SPN serves as a vital resource for developers looking to identify, assess, and engage with the most suitable solution providers for their projects across various Polygon chains, including Proof of Stake (PoS) and zkEVM (zkRollups). Before the introduction of SPN, friction existed in the process of connecting solution providers with developers and establishing credibility. Simultaneously, developers lacked a clear means of identifying middleware and tools essential for their projects.

SPN addresses these challenges head-on by providing each Polygon solution provider with a dedicated profile, enabling developers to connect with them directly. This streamlined process involves a simple onboarding procedure and a comprehensive listing, ensuring that any solution provider can be easily discovered by developers operating within the Polygon ecosystem.

However, SPN is not merely a passive directory; it fosters active engagement within the Polygon community.

Enhancing Visibility and Credibility

Solution providers can bolster their visibility and credibility within the Polygon ecosystem by actively participating in various activities and completing tasks. These actions enable solution providers to earn badges, distinguishing themselves and signaling their commitment to supporting the Polygon network.

SPN is Live and Ready

Polygon’s Solution Provider Network is operational, providing immediate access to a diverse array of 100+ solution providers actively building on the Polygon blockchain. With an updated landing page and additional features, this platform is set to transform the landscape for developers. If you are a solution provider, the onboarding process is available now, offering the opportunity to showcase your offerings within the thriving Polygon ecosystem.

Polygon is actively expanding and enhancing its ecosystem. As reported by Blockchain.News, the 10-day timelock for the highly anticipated zkEVM Mainnet Beta upgrade, codenamed Dragon Fruit, has officially begun. This upgrade, scheduled to launch the week of September 11, 2023, will introduce numerous improvements, including the integration of the latest Ethereum opcode, PUSH0.

Disclaimer & Copyright Notice: The content of this article is for informational purposes only and is not intended as financial advice. Always consult with a professional before making any financial decisions. This material is the exclusive property of Blockchain.News. Unauthorized use, duplication, or distribution without express permission is prohibited. Proper credit and direction to the original content are required for any permitted use.

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Binance Announces Cessation of The Sandbox NFT Staking and Polygon Network Support

Binance NFT announced critical changes to its platform. As of September 26, 2023, at 06:00 (UTC), the platform will halt The Sandbox NFT Staking Program. This move results from a strategic decision to optimize the Binance NFT Marketplace’s product line-up.

According to the details provided:

Staking LAND NFTs, currently hosted on the Polygon Network, for daily SAND rewards will be suspended from 2023-09-26 06:00 (UTC).

All LAND NFTs staked on the platform will undergo an automatic unstaking process on September 27, 2023 (UTC). Users can expect the return of their staked LAND NFTs to their Binance accounts by September 28, 2023, at 02:00 (UTC). Furthermore, the final distribution of daily SAND rewards will transpire post this time.

Binance NFT also revealed another significant update concerning the Polygon Network. Starting from September 26, 2023, at 06:00 (UTC), the platform will cease support for the Polygon Network. Consequently, Binance NFT Marketplace users holding NFTs on the Polygon Network are advised to complete their withdrawals by December 31, 2023, at 23:59 (UTC). More specific guidance for affected users will be dispatched subsequently.

Post this deadline, activities such as buying, depositing, offering, or listing NFTs from the Polygon Network on Binance NFT Marketplace will be restricted. Simultaneously, any existing listings linked to the Polygon Network will be automatically nullified at 2023-09-26 06:00 (UTC), with the related NFTs being returned to the users’ accounts by September 28, 2023, at 02:00 (UTC).

While Binance NFT extended its apologies for any potential inconvenience, users seeking further clarity can direct their queries to Binance’s Customer Support or consult the platform’s guides.

Disclaimer & Copyright Notice: The content of this article is for informational purposes only and is not intended as financial advice. Always consult with a professional before making any financial decisions. This material is the exclusive property of Blockchain.News. Unauthorized use, duplication, or distribution without express permission is prohibited. Proper credit and direction to the original content are required for any permitted use.

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OKX NFT Adds Base, Linea Support, Beyond Ethereum, Optimism, Polygon

OKX, a key player in the Web3 technology landscape, broadened its NFT Marketplace’s capabilities by integrating support for Base and Linea blockchains on September 5, according to press release shared with Blockchain.News. This move follows the company’s earlier decision to include Base and Linea in its wallet services, thereby extending the marketplace’s compatibility to 17 different blockchains.

OKX has already supported NFTs on Ethereum, SolanaBinance Smart Chain, Polygon, OK Chain, Immutable X, Aptos, Optimism, Klaytn, Arbitrum and Avalanche Chain.

Base and Linea: A Technical Overview

Base, an Ethereum Layer 2 (L2) solution, is built on the open-source Optimism Stack. It aims to tackle the blockchain trilemma of scalability, security, and decentralization by offering interoperability and composability for participating rollups. The inclusion of Base also brings liquidity from OpenSea, a major NFT marketplace, into the OKX ecosystem.

Linea, a project by ConsenSys, employs Zero-Knowledge Succinct Non-Interactive Argument of Knowledge (zk-SNARK) cryptography technology. The Ethereum L2 solution is designed to enhance transaction throughput while maintaining a secure environment, aligning with the broader push for scalability in the Ethereum network.

OKX’s Multichain Strategy

The OKX NFT Marketplace is notable for its extensive multichain support, accommodating over 11 blockchain networks. It serves as a centralized hub for NFT transactions, including buying, selling, trading, and collecting, making it one of the most comprehensive platforms in the Web3 space. Major NFT marketplaces like OpenSea, LooksRare, and Magic Eden are among those supported.

Strategic Implications

While OKX has been known for its partnerships with high-profile brands and athletes, including Manchester City F.C. and McLaren Formula 1, the company’s core focus remains on technological innovation. Its recent global brand campaign, “The System Needs a Rewrite,” underscores its commitment to challenging the status quo through Web3 technologies.

The integration of Base and Linea is more than a mere addition of new features; it’s a strategic move that could have ripple effects across the NFT and blockchain sectors. By supporting a diverse range of blockchains, OKX positions itself as a versatile platform capable of adapting to the evolving needs of the Web3 community.

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Shiba Inu Shibarium’s Wallets Top 100,000 as Transactions Exceed 445,000

Shiba Inu’s Ethereum Layer 2 network, Shibarium, has reached a significant milestone, crossing 100,000 wallet addresses and completing over 445,000 transactions, according to data from Shibariumscan, the network’s block explorer. This comes after an announcement by Shiba Inu’s lead developer, Shytoshi Kusama, who confirmed that Shibarium’s mainnet and cross-chain bridges are fully operational as of August 28, 2023.

A Rocky Start to a Promising Journey

Shibarium, a fork of Polygon, initially faced technical challenges due to an unprecedented surge in user activity shortly after its launch. The system’s fail-safe mode was triggered to ensure the safety and security of funds. Nearly half of the platform’s monthly allocation of 400 million compute units was consumed within just 30 minutes of its launch, posing significant scaling challenges. However, collaborations with teams like Alchemy facilitated a 1500% scaling of operations, ensuring Shibarium’s capability to handle its burgeoning user base.

Mainnet and Cross-Chain Bridges Operational

In a statement on August 28, Shytoshi Kusama clarified that the Shibarium mainnet and its cross-chain bridges are functioning smoothly. Users can now complete withdrawals of various assets, including ETH, Shib, Leash, and WEth, within a time frame of 45 minutes to 3 hours. However, withdrawals of the network’s native token, Bone, may take up to 7 days.

Rapid Adoption and User Engagement

The rapid adoption of Shibarium is noteworthy, especially considering the Layer 2 network aims to alleviate congestion and high fees on the Ethereum mainnet. The data from Shibariumscan indicates a growing user base, which is a critical factor for the long-term sustainability of any blockchain network.

Layer 2 Networks: A Growing Trend

Layer 2 solutions have been gaining traction in the crypto space as they offer scalability and lower transaction costs, features that are particularly beneficial for decentralized finance (DeFi) applications and non-fungible tokens (NFTs). Shibarium’s achievement is in line with this trend, and it adds another layer of utility to the Shiba Inu ecosystem, which initially gained fame as a meme cryptocurrency.

Implications for the Shiba Inu Ecosystem

The Shiba Inu ecosystem has been expanding its offerings, moving beyond its meme coin status. The introduction of Shibarium adds a new dimension to the ecosystem, allowing for faster and cheaper transactions. This could potentially attract more developers to build on the Shibarium network, thereby increasing its utility and value proposition.

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API3 Unveils Enhanced Data Feed Service to Bolster TVL on Polygon zkEVM

API3, a pioneering blockchain oracle provider championing the shift from conventional third-party oracle networks to first-party oracle solutions, has rolled out its managed data feed service. This service is designed to support the growth of Total Value Locked (TVL) on Polygon zkEVM, an initiative by Polygon Labs, a leader in developing Ethereum scaling solutions for Polygon protocols.

This development comes in the wake of Polygon zkEVM’s launch earlier this year, which aimed to harness the capabilities of zero-knowledge proofs while ensuring EVM equivalence. Since April 2023, API3 has been at the forefront, offering first-party oracle services to Polygon zkEVM. The recent unveiling of managed dAPIs on the API3 Market now empowers builders with access to multi-source, decentralized data feeds (dAPIs) delivered by first-party oracle nodes, complete with native-chain aggregation.

The DeFi landscape, with lending protocols and perpetual DEXs at its core, hinges on real-time market data. This data necessitates on-chain integration via an oracle. A significant portion of DeFi applications, representing tens of billions in TVL, predominantly rely on push-type oracles. However, existing blockchain oracles often come with high fees and limited source transparency, sometimes introducing vulnerabilities.

Addressing these challenges, API3 has crafted a novel push oracle solution centered around first-party architecture. This innovation facilitates DeFi protocols, currently using push oracles on other EVM chains, to seamlessly transition to Polygon zkEVM. The move is poised to accelerate the adoption and scaling of DeFi, potentially reaching the next billion users.

API3’s groundbreaking push oracle is constructed around the Airnode first-party oracle node. This design eliminates the need for intermediaries, paving the way for a safer and more efficient method to bring real-time market data on-chain. With features like native-chain aggregation and multi-source data feeds, developers can tap into more dependable data, minimizing downtime and enhancing data accuracy.

In a departure from traditional oracle designs that involve third-party node operators, API3’s first-party push oracle sources data directly from the origin. These oracle nodes, managed by the data providers themselves, ensure that cryptographically signed data is integrated onto the blockchain. This approach offers unparalleled data source transparency, setting a new industry benchmark.

Prominent DeFi platforms like Aave, Compound, and various DEXs have historically depended on push oracles. But API3’s innovative push oracle is set to redefine the playing field. This model harmonizes the interests of data providers, networks, and dApps. The introduction of API3’s managed dAPIs heralds a new industry standard, granting direct access to a diverse range of real-world data, encompassing crypto, forex, equities, and commodities.

The DeFi ecosystem is already benefiting from the DAO-managed oracle service of API3. Platforms like QuickSwap Perps and Dovish, a perpetual swap protocol, are leveraging dAPIs for precise pricing. MantisSwap, a DEX focusing on stable assets trading, employs dAPIs to bolster their protection mechanism against stablecoin depegging, highlighting the enhanced security features of dAPIs for DeFi applications.

Tropykus, a lending and borrowing dApp that branched out from AAVE V2, utilized self-funded dAPIs for a swift launch on Polygon zkEVM. With dAPIs requiring minimal alterations to tried-and-tested code, developers gain a competitive edge, potentially enabling rapid deployment on emerging networks.

API3’s collaboration with Polygon zkEVM underscores the pivotal role oracles play in scaling Ethereum. The upcoming generation of blockchain oracles promises heightened security and transparency through first-party oracle solutions. API3 DAO remains enthusiastic about exploring the vast potential of decentralized finance as the capabilities of smart contracts come to fruition.

Jack Melnick, Head of DeFi BD at Polygon Labs, remarked, “It’s very exciting to see API3 deploying on Polygon zkEVM, enhancing the DeFi ecosystem with an innovative push oracle solution. The integration of managed dAPIs with Polygon’s scalable infrastructure marks a significant step towards a more transparent and secure future for decentralized finance.”

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Tetra Partners with Kiln to Enhance Staking Service Including Ethereum and Solana

Tetra Trust Company (Tetra), Founded in 2019, Canada’s only licensed custody solution for digital assets, has announced the rollout of increased staking functionality through its strategic partnership with Kiln, a leading enterprise-grade staking platform.

The Tetra-Kiln Partnership

Starting today, Tetra clients can stake their assets with Kiln on the main Proof-of-Stake (PoS) blockchains such as Ethereum (ETH), Solana (SOL), Polygon (MATIC), Cardano (ADA), and Tezos (XTZ). This collaboration aims to provide secure and efficient methods for institutional clients to actively participate in blockchain networks and earn rewards on their digital asset holdings.

Kiln is the leading enterprise-grade staking platform, enabling institutional customers to stake assets, and to whitelabel staking functionality into their offering. Kiln runs validators on all major PoS blockchains, with over $2.2 billion of stake under management and over 3% of the Ethereum network.

Kiln, known for its high standards of operational excellence, manages over $2 billion worth of staked assets and is SOC 2 Type II certified. “We are excited to offer our clients staking opportunities thanks to our collaboration with Kiln,” says Didier Lavallée, CEO at Tetra. “The solution Kiln brings to the table is quite impressive, not only does Kiln meet our security and technical requirements, their all-encompassing capabilities make it a robust solution to offer our clients.”

Laszlo Szabo, CEO at Kiln, stated, “We strive to enable institutions to access staking. Being our first enterprise-grade custodian partner in Canada, we’re thrilled to collaborate with Tetra, with whom we share common values.”

Understanding the Staking Opportunity

In PoS blockchains, staking consists of locking native tokens to earn the right to help secure the chain via a validator. Staking plays a crucial role in network security, governance, and contributes to the growth of the Web3 ecosystem. By staking, token holders can earn rewards and grow their digital asset holdings.

This collaboration marks a significant milestone in both companies’ commitment to delivering the highest standards of security and service for institutional and corporate clients.

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