NFT-optimized Palm Network to become a Polygon ZK Supernet

9 months ago 52

The Ethereum sidechain volition modulation to a proof-of-stake web this August and go a full-fledged furniture 2 based connected Polygon’s zero-knowledge protocol successful 2024.

235 Total views

1 Total shares

NFT-optimized Palm Network to go  a Polygon ZK Supernet

Nonfungible token-focused blockchain Palm Network is astir to go a large woody much accessible to users, with plans to modulation into being a customized Polygon blockchain.

According to a July 26 announcement, Palm Network volition soon go a Polygon (MATIC) ZK Supernet, which volition spot minting, trading, and collecting NFTs becoming much readily disposable to its users.

Additionally, Palm Network volition go interoperable with Ethereum and the remainder of the Polygon 2.0 ecosystem.

— Palmfdn (@palmfdn) July 27, 2023

Polygon “supernets” are customizable blockchains that are created utilizing Polygon statement software, portion the word “ZK Supernet” refers to a web that uses zero-knowledge proofs to process deposits and withdrawals from Ethereum.

Palm Network’s modulation to a Polygon Supernet volition instrumentality spot successful 2 stages. On August 23, it volition modulation to a proof-of-stake (PoS) statement mechanics network. Then sometime successful 2024 it volition modulation into a ZK-based layer-2.

Palm Network has partnered with NFT marketplace Candy Digital, which carries licensed NFTs from NASCAR, Major League Baseball, Netflix, Warner Brothers, WWE and different brands. The integer creation distributor HENI is besides built connected the network.

Candy Digital marketplace connected Palm Network. Source: Candy Digital

Palm is presently an Ethereum (ETH) sidechain, which means that it relies wholly connected its ain nodes for security. 

Once the modulation process is completed, transfers betwixt Palm Network and Ethereum volition beryllium processed utilizing Polygon’s zero-knowledge impervious protocols, making their information partially babelike connected the Ethereum blockchain and truthful perchance much secure.

Related: Polygon 2.0 begins groundwork for decentralized governance

Polygon co-founder Jordi Baylina praised Palm’s move, saying that it volition pb to greater accessibility for users without sacrificing security:

“By leveraging Polygon Supernets technology, developers of Palm Network tin sphere the idiosyncratic acquisition amid adjacent the highest web enactment portion minimizing the state costs for its assemblage — resulting successful a importantly much accessible and antiauthoritarian ecosystem.”

Over the past fewer months, the Polygon squad has been moving to make an ecosystem of aggregate ZK supernets joined unneurotic done its software, a strategy they person referred to arsenic “Polygon 2.0.”

They face contention from Optimism’s “Superchain,” a akin multichain imaginativeness based connected the OP Stack software. ZkSync has besides announced that it volition beryllium building a multi-network ecosystem made up of “Hyperchains.”

Collect this nonfiction arsenic an NFT to sphere this infinitesimal successful past and amusement your enactment for autarkic journalism successful the crypto space.

Magazine: Tokenizing euphony royalties arsenic NFTs could assistance the adjacent Taylor Swift

Read Entire Article