Tidio Live Chat Software - Add Tidio live chat software to your website in minutes. Contact visitors and turn them into happy customers. Enhance their experience and boost your sales. Get it for Free

Must Read

Ethereum blockchain platform Polygon has raised nearly $450 million in a funding round led by Sequoia Capital India. The platform will utilize fresh funds to ensure mass adoption of Web 3.0 applications.

Others who participated in the round were SoftBank Vision Fund 2, Galaxy Digital, Galaxy Interactive, Tiger Global, Republic Capital, and others.

Also Read

The funds will also allow Polygon to continue investing in cutting-edge zero-knowledge (ZK) technology that will be key to onboarding the next billion users to Web 3.0, it said in a statement late on Monday.

“Web 3.0 builds on the early Internet’s open-source ideals, enabling users to create the value, control the network and reap the rewards. Ethereum, scaled by Polygon, will be the bedrock of this next stage in the Web’s evolution,” said Polygon Co-founder Sandeep Nailwal.

Elegant Themes - The most popular WordPress theme in the world and the ultimate WordPress Page Builder. Get a 30-day money-back guarantee. Get it for Free

The Polygon team is building a complete suite of solutions that is similar to what Amazon Web Services (AWS) offers Web 2.0 developers — a tool for every possible use case and scaling at a click of a button.

For Web 3.0, Polygon PoS already offers an execution layer with low fees and high transactions throughout secured by the Ethereum mainnet.

“Technological disruption didn’t start with Web 2.0, nor is it going to end there. That’s why we are very excited to see some of the same firms that funded the previous round of innovation now being our Web 3.0 vision,” said Nailwal.

More than 7,000 decentralized apps (dApps) are currently building on Polygon, making it the main destination for Web 3.0 projects.

“The platform of choice to build on the blockchain today is Polygon. Thousands of developers across a range of applications are choosing Polygon and their complete set of scaling solutions for the Ethereum ecosystem,” said Shailesh Lakhani, MD at Sequoia India.

Polygon has also emerged as a prime destination for projects looking to build the future of games on Web3.

Blockchain gaming and NFT arm Polygon Studios was launched in July 2020 to assist in that mission and have since projects including DraftKings, Upshot, Aavegotchi, Zed Run, Skyweaver by Horizon Games, Decentraland, Megacryptopolis, Neon District, Cometh, Animoca Brands’ The Sandbox and Decentral Games.

Polygon PoS adoption has soared exponentially, with a billion transactions recorded last year, said the platform.

The network’s more than 130 million unique addresses and over 2.67 million monthly active users now generate some 3 million transactions per day, more than double the volume of Ethereum.

Polygon’s native MATIC token has a market capitalization of over $12 billion.

Save up to 60% on OptinMonster

Stay updated

Subscribe to our newsletter and never miss an update on the latest tech, gaming, startup, how to guide, deals and more.

- Advertisement -
- Advertisement -

Latest

Grow Your Business

Place your brand in front of tech-savvy audience. Partner with us to build brand awareness, increase website traffic, generate qualified leads, and grow your business.

- Advertisement -

Grow Your Business

Get these business solutions, tools and services to help your business grow.
Elementor

Elementor -Join 5,000,000+ Professionals Who Build Better Sites With Elementor. Build your website with 100% visual design that loads faster and speeds up the process of building them.

WP Rocket

WP Rocket - Speed up your website with the most powerful caching plugin in the world. The website speed increase means better SEO ranking, user experience, and conversation. It’s a fact that Google loves a fast site.

Kinsta

Kinsta - If you are looking for WordPress managed hosting, Kinsta is in the leading front. Kinsta provides WordPress hosting for a small or large business that helps take care of all your needs regarding your website with cutting-edge technology.

OptinMonster

OptinMonster - Instantly boost leads and grow revenue with the #1 most powerful conversion optimization toolkit in the world. 700,000+ websites are using OptinMonster to turn their traffic into leads, subscribers, and sales.

Related

- Advertisement -
- Advertisement -