Tag: Polygon

Eth2 rebrands to Consensus Layer, Elon Musk fails to boost DOGE, YouTube gaming head switches to Polygon Studios: Hodler’s Digest, Jan 23-28

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[ad_1] Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week Analysts say Bitcoin’s bounce at $36K means ‘it’s time to start thinking about a bottom’ Bitcoin had a turbulent week, its price dropping as low as $33,300 and surging as high as $38,000 before retracting back to the $36,000 region at the time of…

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QuickSwap lets users avoid Ethereum transaction fees with Polygon

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[ad_1] As Ethereum gas prices rise, the chain that inspired Web3 is becoming gentrified, with high transaction costs pushing less wealthy users onto competing blockchains or scaling solutions. This means that many use cases are becoming unfeasible in the proverbial layer-one downtown, and suburban neighborhoods are being developed to allow for a cost-effective layer-two blockchain experience.  Since getting acquainted with Polygon around the time of its launch in late 2019, Sameep Singhania has been an avid supporter of projects built on the protocol. In 2021, he created QuickSwap, a decentralized…

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Polygon upgrade quietly fixes bug that put $24B of MATIC at risk

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[ad_1] Ethereum-based layer two scaling network Polygon has quietly fixed a vulnerability that put almost $24 billion worth of its native token MATIC at risk. According to a Dec. 29 blog post from Polygon, the “critical” vulnerability in the network’s Proof-of-Stake (PoS) Genesis contract was first highlighted by two whitehat hackers on Dec. 3 and Dec. 4 via blockchain security and bug bounty hosting platform Immunefi. All you need to know about the recent Polygon network update.✅A security partner discovered a vulnerability✅Fix was immediately introduced✅Validators upgraded the network✅No material harm…

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Polygon, Reddit Co-Founder’s VC Firm Launch $200 Million Social Media Web3 Fund – Bitcoin News

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[ad_1] The team behind Polygon, the protocol dedicated to interconnected blockchain networks like Ethereum, and Alexis Ohanian’s Seven Seven Six venture capital company have revealed a $200 million investment fund in blockchain-based social media projects. According to the announcement, the partner’s mission is to attempt to bridge blockchain, Web3 technology, and social media together. Polygon and Alexis Ohanian’s Seven Seven Six Launch $200 Million Fund Dedicated to Web3, Blockchain, and Social Media Polygon and Alexis Ohanian’s firm Seven Seven Six plan to bolster Web3 technology with social media via blockchain…

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AscendEX loses $80M following ERC-20, BSC, Polygon hot wallet compromise

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[ad_1] Crypto trading platform AscendEX suffered a loss of $77.7 million in a hot wallet compromise that allowed hackers to access and transfer tokens hosted over the Ethereum (ETH), Binance Smart Chain (BSC) and Polygon (MATIC) blockchains. Soon after realization, AscendEX proactively warned its users about the stolen funds, confirming that the hackers were not able to access the company’s cold wallet reserves. 22:00 UTC 12/11, We have detected a number of ERC-20, BSC, and Polygon tokens transferred from our hot wallet. Cold Wallet is NOT affected. Investigation underway. If…

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Enegra migrates digitized equity tokens from Ethereum to Polygon blockchain

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[ad_1] Enegra Group, a commodities trading firm based in Malaysia with a net asset value of $28 billion, has migrated its equity-tied EGX security tokens to the Polygon (MATIC) blockchain from Ethereum (ETH). In 2019, Energra tokenized 100% of its equity, enabling shareholders to digitally exercise their dividend, voting and governance rights. Both the initial tokenization and token migration were facilitated by Tokeny, an asset tokenization and compliance infrastructure provider. Matthew Averay, managing director and CEO at Enegra, said: We tokenized our equity to improve liquidity. And, now that the technology…

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Arbitrage bot’s spam attack on the Polygon network generated $6,800 per day

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[ad_1] The growth of layer-two protocols has been one of the major stories of 2021 as the rising popularity of decentralized finance (DeFi) and nonfungible tokens (NFT) have driven transaction costs higher on the Ethereum (ETH) network effectively pricing out many participants.  Earlier this year the Polygon network, formerly known as MATIC, emerged as one of the top contenders in the race for an effective Ethereum layer-2 scaling solution, and the project’s QuickSwap DeFi platform was also one of the more successful Uniswap clones. The platform was quite popular initially…

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Ethereum will replace Bitcoin as the leading crypto network, claims Polygon co-founder

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[ad_1] “Sooner or later, ETH will outpace Bitcoin and become the global standard”, said Polygon co-founder Sandeep Nailwal in an exclusive interview with Cointelegraph.  Nailwal believes that Ethereum will eventually become “the ultimate settlement layer” for the DeFi space. Polygon will play a major role in ensuring the long-term success of Ethereum through its scalability solution. Despite increasing competition from other layer-1 protocols, such as Solana, Nailwal believes it is still too early to talk about an “Ethereum killer.” “The Ethereum chain, because of its fundamentals, security, the level of…

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Telcoin (TEL) gains 300% after layer-2 migration to the Polygon network

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[ad_1] The ability to send money to anyone, anywhere, at any time was one of the original motivations behind Bitcoin (BTC) that helped give rise to the expanding cryptocurrency ecosystem that exists today.  Blockchain-based global remittance platforms are one sector of crypto projects that have evolved over time to help meet the needs of peer-to-peer money transactions, and Telcoin (TEL) is one such project that has made significant gains in 2021. TEL/USDT 4-hour chart. Source: TradingView Data from Cointelegraph Markets Pro and TradingView shows that the price of Telcoin has surged…

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Polygon (MATIC) jumps ahead as the race for Layer-2 adoption picks up

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[ad_1] Recently layer 1 solutions like the Solana (SOL) and Cosmos (ATOM) have grown in prominence thanks to each network’s faster transaction times and lower fees when compared to the Ethereum network. An even greater focus has fallen on layer 2 solutions that can help Ethereum keep up with the competition as it continues its process of switching to proof-of-stake.  One project that has seen a steady rise in user activity and transactions over the past 2 months is Polygon (MATIC), a platform for Ethereum scaling and infrastructure development. MATIC/USDT 4-hour…

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