Glitch announces partnership with Polygon
Glitch is excited to announce a partnership with Polygon (formerly MATIC), a protocol and a framework for building and connecting Ethereum-compatible blockchain networks. The main focus of this collaboration will be finding ways to make the Glitch network stronger and nurturing the decentralized apps (dApps) being built on top of it.
Scaling decentralized finance
dApps have made massive strides in the last few years. But as the growth of new decentralized finance (DeFi) users continues to accelerate, the networks (primarily Ethereum) that underlie them are not ready to meet the demand. In its current state, DeFi has slow block confirmations, high gas fees, and no sovereignty.
Polygon addresses this situation by, among other things, using Layer 2 sidechains — blockchains that run alongside the Ethereum main chain. The project has a growing set of modules for developing custom networks and in terms of interoperability, is one of the best solutions around.
Polygon is also working to simplify access to the decentralized world with a strong focus on user experience. The project features smooth UX abstraction from mainchain to sidechains, ecosystem-native mobile apps, and a user-friendly SDK. Although our approaches are different, we share a common vision with Polygon, and that is to create better infrastructure to support mainstream blockchain adoption.
Working with Polygon
Glitch is building an L1 blockchain that addresses current DeFi speed issues. We plan to utilize a modified version of the proof of stake consensus mechanism to also ensure greater network decentralization and security.
In collaboration with Polygon, we intend to build a bridge using POS (as opposed to the slower option, Plasma). The bridge will unlock synergy between the two ecosystems and offer GLCH token holders more options.
We will also investigate ways to make it easier for dApp developers to implement their solutions on both chains and make two ecosystems work parallel so that the dApps on GLCH can function simultaneously on Polygon. We’re excited to be working with Polygon and have many other developments in the pipeline — including an MVP for our explorer, piloting our governance model, and ultimately, a test net launch.
“Polygon teaming up with Glitch is like The Runner teaming up with The Silver Surfer. We’re talking dApps running parallel at lightning speeds on Glitch. True interoperability, commercial-grade execution, and a seamless uninterrupted service experience. No brainer.” — Sean Ryan, CEO, Glitch
“Polygon is pleased to collaborate with Glitch and support dApp scalability via Polygon’s high-speed low-cost infrastructure — and in addition, further boost interoperability for both projects with cross chain support.” — Arjun Kalsy, VP Growth, Polygon
About Polygon
Polygon is the first well-structured, easy-to-use platform for Ethereum scaling and infrastructure development. Its core component is Polygon SDK, a modular, flexible framework that supports building and connecting Secured Chains like Plasma, Optimistic Rollups, zkRollups, Validium, etc., and Standalone Chains like Matic POS, designed for flexibility and independence. Polygon’s Layer 2 Chains have seen widespread adoption with 100+ Dapps, ~26M txns, and ~388K unique users.
About Glitch
Built from the ground up, GLITCH is a blockchain-agnostic super protocol explicitly designed for trustless money markets. Glitch solves the expensive fee structure of other blockchain platforms and plans to incorporate token wrapping bridges, where dApps can run more efficiently, all in service of Glitch’s ultimate goal: to become a cornerstone of decentralized finance infrastructure.
📰 INFO
https://medium.com/glitchfinance/glitch-is-joining-forces-with-polygon-a9e7c6a29eb2
