• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • About us
  • Write for us
  • Terms and Conditions
  • Privacy Policy
  • Disclaimer
  • Contact
  • All Posts
  • Advertise

TronWeekly

Crypto World News

  • Home
  • Education
    • Best TRON Wallets
    • Beginner’s guide to TRON
  • Opinion
    • Tron Tokens
    • Market Analysis
  • Industry
    • Tron Exchange
    • Project Review
  • Press Release
  • Advertise
  • About us
    • The Team
    • Editorial Policy
    • Write for us
    • Privacy Policy
    • Disclaimer
    • Terms and Conditions
    • Contact
You are here: Home / Archives for Hermez

Hermez

Polygon Emerges As A Preferred Destination For Crypto Initiatives

May 12, 2022 by Lipika Deka

The Polygon ecosystem is teeming with a lot of activities. Originally marketed as Ethereum’s scaling solution, or the so-called Layer 2 blockchain, has rapidly evolved to become what co-founder Mihailo Bjelic claims, a “one-stop-shop for anything that a developer would need to spin up a node or application.”

Last year its $250 million acquisition with the ZK rollup Hermez network was merged as Polygon Hermez, which has boosted its privacy-enhancing functionality by hiding transacting addresses and amounts from prying eyes.

Polygon also pledged $100 Million to bootstrap growth. Just a couple of months after its February launch, Paper, a crypto-focused payments processing firm has closed a $7.3 million seed round after a $2 million angel investment, for a total of $9.3 million in fresh capital, James Sun, co-founder and CEO of the firm said.

The round was co-led by Electric Capital and Initialized Capital with participation from Polygon, FalconX, and Long Journey Ventures among others.

“Paper enables users to create wallets through their email addresses and purchase NFTs with credit cards [or crypto wallets] across the MATIC blockchain to provide non-crypto consumers a “frictionless” bridge for entry into the marketplace,” the announcement read.

Meta Chooses Polygon Blockchain to fuel its Web 3 Ambitions

Another significant development was when Meta announced that they will use the blockchain to expand their reach into the Web3 space. 

Ryan Wyatt, CEO of Polygon, tweeted, “We’re excited to share that Meta is partnering with 0xPolygon as they push into web3. Facebook is choosing it due to our carbon neutral footprint, the scale we can offer, and the developer ecosystem choosing to build on the blockchain.”

Last month, the layer-2 protocol unveiled a new plan, “The Green Manifesto,” to transform into a more sustainable era and aims to be ultimately carbon negative by the end of 2022.

It has allocated a $20 million fund to help realize its goal. As per the team behind the project, the fund will be directed at community initiatives and projects that use technology to combat climate change.

Wyatt who is also the former Head of Gaming on YouTube declared, “The most reputable companies in the world are choosing Polygon after due diligence.”

Filed Under: News, Altcoin News Tagged With: Hermez, Meta, Paper, Polygon

Primary Sidebar

Recent Posts

  • JPMorgan Begins Utilizing Blockchain for Collateral Settlements May 27, 2022
  • MetaMask Joins Hands With Asset Reality to Assist in Recovering Stolen Crypto May 27, 2022
  • Bitcoin knowledge, the biggest flex May 27, 2022
  • Fakesters use LUNA 2.0 airdrops to target users May 27, 2022
  • Tether-ing in Mexico May 27, 2022

Footer

News

  • Altcoin News
  • Bitcoin News
  • Blockchain
  • Tron News
  • World

Digest

  • Meet the Founder
  • Price Winning Article
  • DeFi
  • Cyber Security
  • Crypto Scam

Industry

  • Project Review
  • Technology
  • Fintech
  • Tron Exchange
  • New in Town

Tron Universe

  • Event and Tron Parties
  • New in Town
  • Tron Tokens

Follow Us

Subscribe US

Copyright © 2022 · Tron Weekly. All Rights Reserved. NOTE: Tron Weekly is an independent crypto news site that adheres to the strict journalism policy anchored on transparency, trust, and objectivity, we have no affiliation with the TRON Foundation, its founder Justin Sun or any other cryptocurrency firm.