Bytom announces collaboration with Polygon
We are excited to announce that the Bytom blockchain will collaborate with Polygon, a protocol and a framework for building and connecting Ethereum-compatible blockchain networks. Polygon and Bytom will jointly develop the cross-chain initiative together, which fundamentally can benefit both parties.
Expanding Cross-chain interaction between Bytom and Polygon
Bytom and Polygon both had developed cross-chain infrastructures in their own ecosystem, Bytom developed its own cross-chain gateway that enables Bitcoin, Polkadot, Ethereum, Litecoin and many other networks to cross-chain to Bytom network. Polygon developed its own cross-chain bridge that can greatly improve the performance of blockchain than Ethereum (The Layer 1). Through the cross-chain initiative，it will allow cross-chain interaction between Polygon network with Bytom network.
Furthermore, the DeFi applications on Bytom and Polygon networks will also support assets from both networks after the cross-chain between Bytom and Polygon completed.
Empower the DeFi Applications with interaction between Bytom and Polygon
Polygon and Bytom both have their own DeFi applications built on their blockchains.
Bytom and Polygon will also collaborate in DeFi applications on each blockchain.
Bytom’s DeFi platform MOV (mov.network) will allow the assets from Polygon networks to MOV. And by providing all kinds of DeFi features(AMM, order book and Lending and etc), Polygon users can have so many choices to use their Matic token in Bytom’s DeFi platform MOV (mov.network).
Likewise the DeFi Applications on Polygon will also support the Asset from Bytom, enables Bytom users to using assets from Bytom to participate in Polygon’ s DeFi products.
About Bytom
Bytom is a blockchain-based open-source value-exchange protocol. It aims to tokenize real-world assets, such as warrants, securities, dividends and bonds. Users can use the Bytom blockchain to create assets without limits and have these assets circulate freely.
Bytom has built a comprehensive product ecosystem that covers”
1. Bytom Blockchain
2. DeFi protocol (MOV)
3. Cross-chain gateway (OFMF)
4. Enterprise Blockchain (Bystack)
5. And also leading an IEEE working standard group
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 Polygon POS, designed for flexibility and independence. Polygon’s Layer 2 Chains have seen widespread adoption with 150+ Dapps, ~20M txns and ~345K unique users.
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