• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M
Celestia and Polygon Labs join forces to transform layer 2 dynamics

Celestia and Polygon Labs join forces to transform layer 2 dynamics

user avatar

by Liza Tanasova

2 years ago


Celestia and Polygon Labs have joined forces to integrate Celestia’s data availability layer with Polygon’s Chain Development Kit (CDK), signaling a significant advancement for Layer 2 projects within the Polygon 2.0 ecosystem. This collaboration is particularly beneficial for projects like OKX, Immutable, Astar, IDEX, and Palm Network, all of which operate as interoperating Layer 2 chains within the Polygon ecosystem.

Layer 2 networks, built using Polygon’s CDK, leverage zero-knowledge rollup technology, consolidating off-chain transactions onto the mainnet. The challenge lies in Ethereum's lack of a specific execution environment for its Data Availability (DA) layer, leading to on-chain processing and storage of data indefinitely, resulting in higher gas fees for Layer 2 solutions.

Celestia's innovative approach provides a solution to this challenge by offering storage bandwidth to multiple Layer 2 networks concurrently. This allows networks to operate light nodes and facilitates streamlined DA verification without overwhelming the network. In the words of Polygon co-founder Sandeep Nailwal, "Combined with interoperability and unified liquidity provided by Polygon 2.0, Celestia’s out-of-the-box solution will make creating new L2 chains as simple and affordable as deploying a smart contract."

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

Bank of America Reinstates Buy Rating for Oracle Stock

chest

On March 24, Bank of America analyst Tal Liani reinstated a Buy rating for Oracle stock with a price target of $200, indicating a potential upside of 30%.

user avatarMaria Fernandez

Regulatory Measures Intensify as South Korea Targets Crypto Outflows

chest

South Korean authorities are intensifying regulatory measures to combat illegal overseas crypto transactions and prevent capital flight, including new cooperation agreements and an AI-driven monitoring system.

user avatarRajesh Kumar

South Korea Sees Massive Crypto Outflows Amid Regulatory Crackdown

chest

South Korea's Financial Services Commission reports significant outflows of crypto assets to overseas exchanges amidst increased regulatory scrutiny.

user avatarGustavo Mendoza

Ireland's Criminal Assets Bureau Seizes 500 BTC from Convicted Drug Dealer's Wallets

chest

Ireland's Criminal Assets Bureau has accessed a Bitcoin wallet containing approximately 500 BTC, valued at around 34 million euros, marking a significant breakthrough in recovering assets from a convicted drug dealer.

user avatarMiguel Rodriguez

Hostplus Pension Fund Considers Bitcoin Investment Options

chest

Hostplus, a major Australian pension fund, is exploring the possibility of offering Bitcoin and other digital assets to its members due to high demand.

user avatarLuis Flores

Iran Permits Nonhostile Ships in Strait of Hormuz, Bitcoin Surges

chest

Iran has announced that nonhostile ships can now pass through the Strait of Hormuz, leading to a surge in Bitcoin prices above $70,000.

user avatarArif Mukhtar

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.