Nonfungible token-focused blockchain Palm Community is about to change into an incredible deal extra accessible to customers, with plans to transition into being a custom-made Polygon blockchain.
In response to a July 26 announcement, Palm Community will quickly change into a Polygon (MATIC) ZK Supernet, which is able to see minting, buying and selling, and gathering NFTs turning into extra available to its customers.
Moreover, Palm Community will change into interoperable with Ethereum and the remainder of the Polygon 2.0 ecosystem.
PALM on the journey to change into ZKL2 with polygon Expertise!
Do not miss a chat with @lerdiedabirdie from ED @palmfdn and @sandeepnailwal , the Founding father of @0xPolygonLabs.
Set your reminder now! ️https://t.co/pRDSFbtNaC pic.twitter.com/SutmzzqTMS— Palmfdn (@palmfdn) July 27, 2023
Polygon “supernets” are customizable blockchains which might be created utilizing Polygon consensus software program, whereas the time period “ZK Supernet” refers to a community that makes use of zero-knowledge proofs to course of deposits and withdrawals from Ethereum.
Palm Community’s transition to a Polygon Supernet will happen in two levels. On August 23, it would transition to a proof-of-stake (PoS) consensus mechanism community. Then someday in 2024 it would transition right into a ZK-based layer-2.
Palm Community has partnered with NFT market Sweet Digital, which carries licensed NFTs from NASCAR, Main League Baseball, Netflix, Warner Brothers, WWE and different manufacturers. The digital artwork distributor HENI can be constructed on the community.
Palm is at the moment an Ethereum (ETH) sidechain, which implies that it depends completely by itself nodes for safety.
As soon as the transition course of is accomplished, transfers between Palm Community and Ethereum might be processed utilizing Polygon’s zero-knowledge proof protocols, making their safety partially depending on the Ethereum blockchain and subsequently probably safer.
Associated: Polygon 2.0 begins groundwork for decentralized governance
Polygon co-founder Jordi Baylina praised Palm’s transfer, saying that it’ll result in higher accessibility for customers with out sacrificing safety:
“By leveraging Polygon Supernets know-how, builders of Palm Community can protect the person expertise amid even the best community exercise whereas minimizing the gasoline prices for its neighborhood — leading to a considerably extra accessible and democratic ecosystem.”
Over the previous few months, the Polygon crew has been working to create an ecosystem of a number of ZK supernets joined collectively by its software program, a system they’ve known as “Polygon 2.0.”
They face competitors from Optimism’s “Superchain,” an analogous multichain imaginative and prescient primarily based on the OP Stack software program. ZkSync has additionally introduced that it will likely be constructing a multi-network ecosystem made up of “Hyperchains.”
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