AltcoinBlockchainCryptocurrencyEthereum (ETH)NewsPolygon (MATIC)Staking

Polygon And BitGo Partner After Recent Upgrade

The Polygon network has established a reputation for its numerous strategic partnerships and has continued to seal more deals even during the crypto winter. Recently, the network revealed that it had signed a new partnership with BitGo, a crypto custodian firm.

MATIC Holders To Enjoy Staking Services

This partnership will allow holders of ERC-20 MATIC tokens to take advantage of staking facilities. As a result of the recent collaboration, holders of MATIC will have access to custody and wallet facilities.

Additionally, holders of MATIC on the ERC-20 blockchain will have the opportunity to earn rewards by staking their coins. Meanwhile, BitGo’s Chief Operating Officer, Chen Fang, believes this is an excellent opportunity for investors.

“By adding more features to MATIC, we aim to not only enhance the security of asset custody for investors but also furnish platforms with the necessary tools for investors.”

Earlier in the week, Polygon announced the completion of the Delhi hard fork to address issues with chain reorganization and lower gas fees. However, the hard fork generated some controversy within the community.

📰 Also read:  Price Analysis October 28th, 2024 - BTC, BNB, ETH, SOL, and DOGE

The controversy occurred because only 15 validators voted. In a recent Twitter thread, Polygon’s governance facilitator, Mateusz Rzeszowski, provided more information about the upgrade and addressed the controversy.

Rzeszowski announced that the v0.3.1 upgrade had gone live. He added that Polygon Labs will always build in public.

“We believe that building sustainable and meritocratic blockchain infrastructure requires democratizing development and actively engaging with service providers, dApps, and experts from the community,” Rzeszowski further said.

Polygon’s Average Gas Fee Still Higher Than That of Ethereum

The COO continued by saying that the Polygon Labs team will always publish their research and ask everyone to follow up on the Delhi upgrade. Also, the team conducted a poll to receive validator feedback.

Meanwhile, the Polygon team assured its community that the hard fork would not affect MATIC holders and Polygon-based dApps. Despite Polygon’s claim that the hard fork would lower gas prices, they do not currently appear as competitive as Ethereum. Ethereum’s gas prices average around 35 gwei, while Polygon is at 88 gwei.

📰 Also read:  Avalanche Foundation Agrees to Buy Back 1.97M AVAX Tokens Sold to Terraform Labs in 2022

Gwei is a unit of measurement for cryptocurrency, specifically one billionth of an ETH.


Tokenhell produces content exposure for over 5,000 crypto companies and you can be one of them too! Contact at info@tokenhell.com if you have any questions. Cryptocurrencies are highly volatile, conduct your own research before making any investment decisions. Some of the posts on this website are guest posts or paid posts that are not written by Tokenhell authors (namely Crypto Cable , Sponsored Articles and Press Release content) and the views expressed in these types of posts do not reflect the views of this website. Tokenhell is not responsible for the content, accuracy, quality, advertising, products or any other content or banners (ad space) posted on the site. Read full terms and conditions / disclaimer.

📰 Also read:  Vitalik Buterin’s Helios Push Targets Faster and Scalable Ethereum Rollup Networks

Bradley Nelson

Bradley Nelson is a US based cryptocurrency news writer for Tokenhell, he helps readers stay up to date with the latest trends and news from the blockchain and crypto world. Bradley has been a crypto enthusiast since 2018.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button
Close
Skip to content