Polygon launches Polygon SVM, the first Solana-equivalent L2 scaling solution

Polygon launches Polygon SVM, the first Solana-equivalent L2 scaling solution Polygon layertwo Eclipse

Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here!

Eclipse, which is a Polygon Ventures portfolio company and recipient of a Solana Foundation grant, is a customizable L2 provider that allows blockchain infrastructure developers to choose between different virtual machines, including the Sealevel virtual machine. The rollup technology provided by Eclipse enables developers to run a new blockchain while leveraging the security of existing networks such as Polygon.

The new Solana-equivalent Polygon SVM will reportedly offer faster processing capabilities, which benefits game developers and high throughput decentralized finance applications like central limit order books. The increased speed is expected to enable new use cases and attract more traffic to the Polygon ecosystem.

The testnet for Polygon SVM is slated for release in late Q1 2023, with the mainnet launch to follow in the summer. Over 100 projects have expressed interest in deploying to Eclipse chains.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

KitcoNewsNOW /  🏆 13. in CA

Canada Latest News, Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Polygon: Limitations to blockchain scalability emerge as zkRollups go on floorJordi Baylina, a Polygon core developer, has responded to the co-founder of Solana who said that provers have not been able to keep up with the chain developments. Polygon [MATIC] will launch its zkEVM scaling solution towards the end of March this year. Jordi Baylina, a core developer of Polygon zkEVM, an upcoming L2 scaler […]
Read more »

Decoding the state of Polygon NFTs as MATIC…Polygon’s NFT sales volume increased by 50% while trade counts decreased. MATIC’s on-chain performance concerned, but Polygon’s revenue registered an increase. Polygon’s [MATIC] NFT ecosystem has been witnessing growth over the past month, reflecting its increased usage across the globe. CRYPTOSLAM’s data revealed that Polygon’s NFT sales volume increased by over 50% in the last […]
Read more »

Polygon’s zkEVM announcement backfires, will the network face the heat?Polygon founder’s tweet caused a stir on social media. Criticisms impacted overall sentiment, NFT and DeFi sectors affected. Polygon [MATIC] has been trying to stir up hype around its new zkEVM solution that will launch on 27 March. In a 26 February tweet, the co-founder of Polygon, Sandeep Nailwal, spoke about the features of the […]
Read more »

Despite Solana’s recent outage, root cause still unknown as SOL…Solana updated the crypto community that the reason for the previous week’s outage was still unknown. Transactions have resumed as SOL consolidates. Days after Solana [SOL] experienced another outage, the blockchain’s engineers have yet to ascertain the cause. In the early hours of 27 February, Solana put the word out that the problem that surfaced […]
Read more »

Solana [SOL] co-founder responds to network outage, more insideSolana’s recent network outage has prompted theories from crypto influencers about design flaws in the network. Co-founder Anatoly Yakovenko defended his network’s on-chain consensus model. Solana [SOL] suffered a major network outage over the weekend that saw network communications and transactions paused for 20 hours. This was the latest in a series of outages that […]
Read more »

Investors bearish on Solana [SOL] as continued outages stem momentumSince the outage on 25 February, Solana dropped by over 3% until press time. A Twitter user pointed out that the repeated outages could be due to a design flaw. According to a tweet by Santiment, Solana’s [SOL] social volume reached a six-month high after the chain was hit by yet another network outage recently. […]
Read more »