- Palm Network has announced that it will be moving to Polygon to reduce the friction for creators interacting with the web3 world
- The shift will involve Palm abandoning its proof of authority (PoA) system for a proof of stake (PoS) system for easier integration with Polygon
- Palm anticipates fully moving to Polygon next year but the change in consensus mechanism is slated for next month
Palm Network has announced that it will be moving to Polygon to reduce the friction for creators interacting with the web3 world. The shift will involve the platform abandoning its proof of authority (PoA) system for a proof of stake (PoS) in readiness for the migration. Palm anticipates fully shifting to the Ethereum scaling layer next year but the change in consensus mechanism is slated for next month.
A Supernet Status Enhances NFT Trading
In an announcement, Palm Network disclosed that it will become a Polygon zero-knowledge Supernet, a status that will help it enhance the process of trading and minting digital collectibles. Its new status will also allow it to communicate with both the Ethereum and Polygon ecosystems.
GM and Exciting Breaking News🗞️
Palm Network is scaling into a @0xPolygon
supernet! 🚀Read the full article here:https://t.co/Eb30y8Cxhw@BuildOnPalm @PalmDAOapp @Consensys @ConsenSysMesh
— Palmfdn 🪬 (@palmfdn) July 27, 2023
Being an Ethereum sidechain, moving to Polygon will boost its security since it will be connected to the Ethereum blockchain at a higher degree than before.
According to Palm Foundation’s Andrea Lerdo, the migration is part of the network’s mission to make Palm Network the preferred destination for aspiring web3 creators. Lerdo added that the shift will help them offer new ways for fans to keep in touch with their favorite brands and players in the virtual space.
Polygon Contemplating Replacing MATIC
The move comes two weeks after Polygon announced it’s contemplating replacing its base token MATIC with POL as part of proposed changes meant to completely overhaul the blockchain and usher in Polygon 2.0.
It also comes when Polygon is gaining widespread adoption and making it the second most popular gaming blockchain.
With Polygon gaining widespread adoption, it’s likely Palm Network will benefit from its success.
