Bitcoin

Polygon (MATIC) announces the launch of its new Blockchain project, “Avail”


Press releases are on fire today as Polygon makes left and right shooting announcements. The platform announced “Avail” – which is described as “a layer that provides robust, general-purpose, scalable data.” In addition, the platform announced the launch of the Pickle.Finance return aggregator.

Latest polygons: Avail

at press release To kick off the week, Polygon shared that Avail will be looking to target standalone threads, sidechains, and off-chain scaling solutions. The platform has been running on Avail since late 2020 and is currently in the devnet stage with “testnet running”.

The press release continues to detail the three main types of peers in the Ethereum-like ecoystems at present: authentication nodes, full nodes, and light clients as well as the executable architecture between the three.

Avail is looking to take a unique approach, likely to be integrated into Ethereum 2.0, while taking advantage of data availability checks. As the team describes it, “Avail reduces the problem of block validation to data availability check,” so that a block that has a consensus is valid only if the data behind the block is available.

Avail looks to change the common architecture seen in many ethereum-based blockchains. | Source: Polygon Medium

Related reading | Polygon (MATIC) Edition of Ethereum Connected Chain Development Kit

Financing Pickle: Yield Crop

at Another ad To start the week, Pickle Finance is launching on Polygon, having previously run primarily on Ethereum.

Pickle uses “Pickle Jars” to synthesize user returns from other protocols, and “Pickle Farms” to reward users for placing their Jar tokens. A variety of farms allow users to have a variety of staking assets to earn PICKLE token rewards.

As part of the announcement, Polygon will offer MATIC rewards of $12,500 each week for eight weeks.

The series continues to grow

Polygon has been tearing up this year and continues to announce new projects, user growth, and DeFi engagement. Today’s announcements continue those sentiments for the team after the $MATIC token reached an all-time high less than two months ago. Despite its “return to Earth,” the $MATIC token is still up nearly 60000% this year and looks set for continued growth.

Adoption also continues at a steady pace, user growth is strong, and investments have come via major names like Mark Cuban – who integrates the platform into his NFT website, Lazy.com. DeFi has been a huge throughput of the platform, and the low fees compared to the Ethereum mainnet made the chain an attractive option for many. “I find myself using it more and more,” Cuban said in a statement about Polygon’s investment.

The $MATIC token has seen substantial success this year. | Source: MATIC-USD on TradingView.com

Related reading | Polygon ($MATIC) sees 75,000 active user growth

Featured image from Pixabay, Charts from TradingView.com



Source link

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button