- Exciting developments are emerging in the blockchain realm.
- Ronin Network and Fox News have announced their latest blockchain advancements.
- Significant moves include the use of Polygon CDK to establish zkEVM L2 chains.
Discover the latest groundbreaking developments in blockchain technology.
Ronin Network’s Integration of Polygon CDK
The Ronin Network, particularly known for its association with the popular game Axie Infinity, has announced its plans to incorporate the Polygon Chain Development Kit (CDK). This integration is intended to create zero-knowledge Ethereum Virtual Machine (zkEVM) layer-2 chains on Ronin. The initiative aims to create a permissionless environment that allows for the rapid deployment and scaling of games on the blockchain. As the blockchain ecosystem expands, this move represents a substantial leap towards unlimited scalability and more efficient onboarding processes for new games.
Fox News Ventures into Blockchain
In a parallel development, Fox News, a significant player in the media industry, revealed its plan to launch a layer-2 blockchain utilizing the Polygon CDK. Confirming the transition, Fox announced that their open-source protocol, Verify, will be migrating to a ZK blockchain. This move is set to transform how registered media origin is verified and tracked, bringing enhanced transparency and credibility to media registration.
Industry Partnerships and Implementations
To implement these ambitious projects, Polygon has partnered with Gelato, a notable Web3 cloud platform. Gelato will take charge of the technical implementation, making these advancements possible. Among the early adopters of this new blockchain is TIME, which will utilize Verify to register content on the newly developed chain. The partnership between Polygon and Gelato is pivotal, offering robust infrastructure and support to ensure seamless operations.
Market Reaction and MATIC Token Performance
The market has reacted positively to these announcements. According to CoinMarketCap data, the native token of the Polygon blockchain, MATIC, saw a 4.2% surge in the past 24 hours, reaching $0.5739. This price increase comes despite a 16.47% decline in trading volume, which stood at $363 million. MATIC continues to hold its position among the top 20 cryptocurrencies by market capitalization, currently valued at $5.68 billion. Despite the recent rise, MATIC remains 80.44% below its all-time high of $2.92, recorded two years ago.
Conclusion
The blockchain industry is witnessing significant developments with Ronin Network and Fox News leveraging the Polygon CDK to enhance their blockchain capabilities. These collaborations are expected to drive scalability and innovation in the sector, setting precedents for future advancements. As the ecosystem evolves, stakeholders in the blockchain space continue to push the boundaries, ensuring that technology keeps pace with the demands of modern applications.
