Polygon is a layer two blockchain scaling solution that aims to help Ethereum with its scalability. Polygon runs alongside the Ethereum blockchain as a layer two protocol, not duplicating its functionality but allowing for speedy transactions and low fees. Matic is the Polygon network’s native cryptocurrency for transaction fees, staking, and more.
The Web3 ecosystem continuously expands as a decentralized iteration of the world wide web that integrates blockchain technology, token-based economics, and NFTs into how it interacts with users. The Ethereum blockchain is home to a vast range of economic activity from NFT marketplaces, Defi, and games, so it is no surprise that an extensive range of Web3 applications is being built on the Ethereum blockchain.
As these applications gain popularity, the number of transactions carried out across the Ethereum blockchain also increases, leading to higher transaction fees, also known as “gas”, This isn’t the most ideal of conditions for users on the Ethereum blockchain, in comes Polygon, which has been built as a layer 2 scaling solution to solve the problems associated with the Ethereum blockchain by providing faster transaction speed and low cost for users to carry out transactions.
Essentially Polygon is acting as a bridge to allow Web3 applications on the Ethereum blockchain to scale up their applications so that users can use their apps with faster transactions and lower fees.
Web3 Games On The Polygon Network.
Web3 games are an emerging ecosystem focusing on decentralizing the mechanics of a gaming ecosystem or gaming platform, precisely when it concerns the ownership of gaming assets and decision-making. Players of Web3 games are allowed to own in-game items in the form of NFTs(Non-Fungible Tokens), earn from the gameplay, and participate in decision-making that concerns the game. All aspects of gaming are delegated away from any central authority.
Recently Polygon has been utilizing its technology to create an ecosystem for Web3 games to bridge the gap as a layer 2 scaling solution and allow Web3 games to thrive on its network parallel to the Ethereum blockchain.
Polygon Edge
Polygon is developing various technological solutions to help in its mission to bridge the gap. One such solution is Polygon Edge, a modular and extensible framework for building Ethereum-compatible blockchain networks, sidechains, and general scaling solutions. Its primary use is to bootstrap a new blockchain network while providing full compatibility with Ethereum smart contracts and transactions.
Polygon Edge also supports communication with multiple blockchain networks, enabling transfers of both ERC-20 and ERC-721 tokens by utilizing the centralized bridge solution(ChainBridge).
Polygon X Game Swift
Polygon has entered a strategic partnership with Game Swift, formerly Star Terra, a fundraising platform on the terra blockchain, to create a Web3 gaming ecosystem. Gameswift is looking to leverage the Polygon Edge technology and zero-knowledge proof to set up its innovative ecosystem. To do this, Game Swift has rebranded and is currently setting up its chain using Polygon’s technology, changing its business model and focusing on Web3 gaming segments.
As part of the partnership, Game Swift has been awarded a one-of-a-kind grant by Polygon, making it the first-choice ecosystem for all Web3 games built on Polygon.
This partnership will allow game swift to achieve its goal of providing all the tools developers and gaming studios require to implement projects in the Web3 space.This is one of many partnerships Polygon has entered to bolster its stance in enhancing its position in implementing strategies to bridge the gap in Web3 games.
Polygon X Neowiz
Polygon has also teamed up with Neowiz Corporation, a popular multi-platform video game development and online publishing giant based in South Korea. The product of this partnership will be to launch a brand new Web3 gaming platform called Intella X, which will bring some of Neowiz’s popular gaming IPs, including “Cats & Soup” and “Brave Nine,” to Web3 for the first time.
Intella X will be championing the core principles of ownership in Web3. It is designed to distribute shares of all generated revenue back to the contributors of its ecosystem by utilizing a system it has created known as “develop and earn.” This system considers both on-chain and off-chain data to determine the contribution rate of each developer.
Also launching alongside the platform will be Intella X’s proprietary wallet, “IX Wallet ‘’ this wallet is optimized for game services but can also interact with Defi applications such as DEXes. Bridges, NFT launch pad, NFT marketplaces, and more.
Polygon X Earn Alliance
Towards the end of 2022, Polygon Studios partnered with earn alliance to increase the speed at which blockchain gaming is being adopted and onboard the next 100 million gamers to web3.
Earn Alliance is a web3 gaming community and infrastructure platform that helps to easily onboard gamers and provide them with knowledge tools and community so they can thrive.
Earn Alliance is offering features like a web3 game directory, game feed wall, community & gamer profiles, and NFT badge to members of its community.
With these features and leveraging this partnership Earn alliance will be able to make the most of Polygons’ fast transaction speed and low fees to facilitate a more immersive blockchain gaming experience
Source : Polygon Medium
