Here’s how Polygon co-founder debunks blockchain myths
The group behind Polygon established it in October 2017. Jaynti Kanani, Sandeep Nailwal and Anurag Arjun make up the project’s team. The group contributed significantly to the Ethereum ecosystem before deciding to use the network in 2019. The team worked hard to port the widely used WalletConnect protocol, the Plasma MVP, and the Dagger event notification engine to Ethereum.
Ethereum developers can use Polygon as a decentralized scaling solution while developing dApps. At a reasonable price, Polygon provides a faster network and extra security. The effort from 2017 has proven to be one of the most fascinating and successful in business.
It is a layer 2 proof-of-stake system that helps you provide Ethereum scaling options. Off-chain transactions are verified using plasma technology before being sent to the main network. The blockchain gives developers the tools they need to create a decentralized network based on Ethereum.
Polygon is undoubtedly working on a number of innovations and ideas. The ecosystem’s ultimate goal is to attract a million or more developers. In terms of product development, it will give developers more influence, especially in the zK sector. It is also planned to organize a number of events over the next few months.
Polygon co-founder believes blockchain does not solve any new problems
Polygon has seen an increase in IRL use cases. Recently, Polygon co-founder Sandeep Nailwal revealed on Twitter that Firozabad police in the Indian state of Uttar Pradesh are now using the Polygon blockchain to fight local corruption and crime. He said,
“With an FIR (First Information Report) going on blockchain, especially if people can get an online platform to file these with their identity, no lower-level officer can deny the FIR. This can be a game-changer in ensuring the right to justice .”
Nailwal, on the other hand, debunked one of the most toxic myths propagated by ardent blockchain skeptics: the Web3 revolution is not solely intended to address “new” problems.
Nailwall used Twitter to express their opinions on how blockchain systems should deal with money, society and other issues.
He argues that industry speakers should not discount blockchain teams’ use cases as “imaginary” or unreal. The vast majority of blockchains, if not all, are focused on improving how today’s technical mechanisms face “old” difficulties within and outside of the financial industry. Because of this, it makes little sense to “create” new applications for blockchain-based technologies when it comes to promoting blockchain adoption around the world and addressing pressing global issues.
