Blockchains Do Not Address Any Fresh Issues - Polygon's Sandeep Nailwal
Godfrey Benjamin Oct 16, 2022 15:15
The Co-founder of Polygon Sandeep Nailwal has disproved one of the most harmful myths propagated by fervent blockchain skeptics: the Web3 revolution is not solely intended to address "new" problems
The Co-founder of Polygon Sandeep Nailwal has disproved one of the most harmful myths propagated by fervent blockchain skeptics and that is the fact that the Web3 revolution is not solely intended to address "new" problems.
Sandeep recently shared his opinions on how blockchain systems should handle many monetary, societal, as well as other issues on Twitter earlier this week.
He asserts that famous industry speakers shouldn't disparage blockchain firms' use propositions as being "imaginary" or unreal.
Sandeep further argues that a large proportion of blockchains, if not all of them, are concentrated on enhancing how current technical mechanisms meet "old" difficulties within and outside of the fintech industry.
Therefore, creating new application scenarios for blockchain-based technologies does not seem reasonable in the context of promoting blockchain integration on a global scale and addressing pressing cross-national issues.
Meanwhile, It was confirmed earlier this past week that Polygon (MATIC) is currently employed as a technical system for police reports in the Firozabad district (Uttar Pradesh, India)
The use of Polygon (MATIC) for receiving and handling police reports will increase the immutability and transparency of the legal system
Polygon (MATIC) zkEVM commences onboarding Dapp
According to US.Today, Polygon's (MATIC) most recent project, zkEVM, garnered media attention back in August 2022. This platform opens doors for ZKP-based protocols that were not available in the past.
Recall that back in September, Polygon introduced the gnosis bridge for Web3 users to transfer assets to their Ethereum crypto wallet.
According to Polygon, the gnosis bridge is the best method for Web3 teams to move their safe assets between polygon and Ethereum.
Interestingly as per the integration, users can now use safe multi-sig technology without sacrificing ease of use, cost, or security.
Previously Matic Network used to be the name of Polygon. Ethereum's Polygon Network, a scaling solution for Ethereum, is powered by the Polygon (MATIC) token. Polygon leverages Layer 2 sidechains—blockchains that operate in parallel with the Ethereum main chain—Polygon intends to offer quicker and less expensive transactions on the Ethereum network.
Image source: Shutterstock