Polygon, the most used layer-2 scaling solution for Ethereum, has partnered with Xternity, a Web3 gaming development platform. The goal of the partnership is to migrate a multiplayer game called Synergy Land from Solana to the Polygon network.
Polygon is expanding its gaming ecosystem
Xternity proposed using its network migration tool to transfer the game’s resources onto the Ethereum Virtual Machine (EVM) chain.
As a blockchain, Solana focuses primarily on scalability and cost-cutting, sacrificing network decentralization. Polygon, on the other hand, allows for seamless interaction with the Ethereum ecosystem.
The goal of the migration is to onboard Web2 users into Web3 without compromising the existing community on the older blockchain.
Speaking about Xternity’s goal to accelerate Web3 game development, co-founder and CEO Sagi Maman stated that both players and developers should have the option to choose their own blockchain ecosystems. The migration process involves linking Solana-compatible wallets, burning assets on Solana, and recreating them on Polygon.
Why Web3 projects choose to migrate, and how does it work
Web3 projects that opt for EVM migration often seek a more extensive user base, greater functionality, and credibility of the Ethereum blockchain. The upgrade, approved by 87% of the 15 voters of the Polygon Governance Team, aims to reduce gas fee spikes and fix the chain reorganization problem.
For users, the migration process starts by linking their Solana-compatible wallets, such as Phantom and MetaMask, and then burning their assets on Solana and recreating them on Polygon. With its migration to Polygon, Synergy Land aims to onboard Web2 users into Web3 without compromising the community hosted over the older blockchain.
Polygon Hard Fork
On January 17, the Polygon proof-of-stake chain was scheduled for a hard fork. A Polygon spokesperson shared details about the upgrade, stating that the hard fork is coded for the Block >= 38,189,056 and that no centralized, single actor will initiate it. Validators of the network have to update their nodes prior to the indicated block.
The update, which was approved by 87% of the 15 voters of the Polygon Governance Team, is designed to reduce spikes in gas fees and resolve the chain reorganization problem.
The tokenized future economy
Polygon has recently partnered with the World Economic Forum (WEF) and will be at the yearly summit in Davos, Switzerland. Leaders in economics will be speaking and discussing the adoption of digital assets and how a tokenized economy will encompass our future financial interactions.
The Polygon team highlighted that it will join global leaders in the discussion and development of the Web3 ecosystem and how blockchain technology can disrupt several industries. The WEF also published a guide with the aim of encouraging the development of a blockchain-based future economy:
“Collaboratively governed and code-driven, decentralized autonomous organizations (DAOs) are engaged in nothing less than an experiment to reimagine how we connect, collaborate and create. Although DAOs today manage billions of dollars’ worth of assets, engage millions of contributors and operate across industries as diverse as finance and philanthropy, basic questions regarding operations, governance, law and policy are only just beginning to be addressed by policy-makers, regulators and entrepreneurs.“