Tag: Polygon

Polygon (MATIC) rally comes to an end as competitors devour market share

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Polygon’s native token (MATIC) experienced a 16.4% rally that coincided with the launch of Polygon 2.0 Goreli testnet on Oct. 4. However, the resistance at $0.60 proved stronger than anticipated, and was followed with a 10.6% decline over the six days leading into Oct. 10. This decline was exacerbated by negative news regarding the departure of a key co-founder and weak activity in Polygon’s zero-knowledge (ZK) rollup subnet. Polygon (MATIC) 12-hour price, USD. Source: TradingView MATIC’s price has wiped out previous gains from the early October rally, erasing the bullish…

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USDC issuer Circle launches MPC wallet beta for Ethereum, Polygon, Avalanche

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USD Coin (USDC) issuer Circle has released a beta version of a multiparty computation (MPC) wallet service, according to an Aug. 8 announcement. The new service will allow developers of decentralized finance (DeFi) apps, Web3 video games, e-commerce services and other blockchain applications to create customized wallets specifically for their users. It will be available initially on Ethereum, Avalanche and Polygon. Building crypto apps is still too hard. Plus, less than 0.5% of the 100 million developers worldwide are actively building crypto apps today. This needs to change. Our new…

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Polygon Zero accuses Matter Labs’ developers of plagiarism

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Update (Aug. 3 at  9:49 p.m. UTC): This article has been updated to add Matter Labs’ response.  Polygon’s zero-knowledge scaling arm, Polygon Zero, is accusing developers of Matter Labs of copy-pasting “a substantial amount of source code” from its Plonky2 library, according to an announcement on Aug. 3. The allegedly plagiarized code was found on zkSync, a competitor layer-2 scaling solution for Ethereum powered by zero-knowledge technology. Matter Labs, the developer of the zkSync ecosystem, has denied the claims. According to Polygon Zero, Matter Labs recently released a proving system called Boojum…

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Polygon proposes architecture for ‘Polygon 2.0,’ including aggregator bridge

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Polygon Labs, creator of the Polygon network, has proposed an architecture for its forthcoming “Polygon 2.0” project. The team suggested in a June 29 blog post that the new project should be made up of four different “layers” that will combine to create a web of networks ultimately connected to each other through Ethereum. If approved by validators, Polygon 2.0 will also feature an aggregator that makes bridge transactions “near-instant and atomic,” the team said. 1/ Today, we are excited to propose the Polygon 2.0 architecture, designed to provide unlimited…

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Subsocial chat program implements Ethereum usernames, Polygon donations

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Grill.chat, a chat app based on the Subsocial network, has now implemented Ethereum Virtual Machine (EVM) wallet compatibility, allowing users to chat using their Ethereum identities and send crypto to each other via Polygon, according to a June 7 announcement. Subsocial is a Polkadot parachain designed for social media applications. Grill.chat allows users to participate in over 70 chat rooms focused on mostly crypto-related topics. The development team seeks to attract new Web3 projects to build their communities on the platform. Polkadot Decoded chat room on Grill.chat. Source: Grill.chat The integration…

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Bug in Aave v2 Polygon causes some assets to become stuck in contracts

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A bug in an older version of crypto lending protocol Aave is blocking users from interacting with Wrapped Ether (WETH), Tether (USDT), Wrapped Bitcoin (WBTC) or Wrapped Matic (WMATIC) pools on Aave v2 Polygon, preventing assets from being withdrawn from them, according to a May 19 proposal that attempts to fix the bug through a patch. The proposal says that users are currently unable to “supply more of those assets, borrow, repay, or withdraw.“ Although withdrawals are currently impossible, the team stated that funds are “perfectly safe,” as the bug can…

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