Palm Foundation Chooses Polygon Technology for zkL2 Upgrade: Empowering Creators, Sports & Entertainment
The Palm Foundation, a dedicated supporter of the Palm Network, has recently unveiled an ambitious roadmap to enhance the network’s capabilities. The foundation has chosen Polygon’s cutting-edge technology to upgrade the Palm Network into a zkL2, marking a significant step towards transforming it into the go-to chain for creators, sports, and entertainment.
Empowering Creators and Elevating Digital Experiences
The Palm Network serves as a revolutionary platform for creators to showcase their work and produce unique digital art, experiences, and collectibles using blockchain technology. This presents a world of new possibilities for artists, fostering next-generation endeavors that resonate with collectors and fans alike.
Already boasting an impressive roster of partners, the Palm Network collaborates with sports and entertainment giants like Netflix, Major League Baseball (MLB), NASCAR, and Warner Brothers. Companies like Candy Digital and HENI are among those working closely with the network, offering exclusive digital collectibles and services.
Migrating Towards an Exciting Future
The roadmap towards becoming a Polygon ZK Supernet involves a two-step migration process. The first step, scheduled for August, 2023, entails the migration into a POS (Proof-of-Stake) chain. The second step, set for 2024, will move the network into a ZK Supernet, significantly scaling its capacity to meet the growing demand as a prominent chain for creators, sports, and entertainment.
The expansion into the Polygon Supernets ecosystem will make minting, trading, and collecting NFTs more accessible than ever, thanks to Polygon’s high speed, security, and scalability features.
Embracing the New Palm Era
With the Palm Network’s transformation into a Polygon Supernet, creators, brands, and developers are invited to embrace a new era of limitless possibilities. This development empowers creators with user-friendly tools to thrive in the Web3 ecosystem.
The integration with Polygon ensures that the Palm Network becomes easily interoperable with Ethereum and the rest of the Polygon 2.0 ecosystem. By tapping into the immense liquidity of both platforms, the issue of siloed assets in the NFT sector will be eliminated.
Palm Foundation: Empowering the Future
The Palm Foundation introduces the concept of Proof-of-Contribution (POC), a unique collectible that users can earn by actively engaging with the Palm ecosystem. This POC not only grants access and influence within the DAO (Decentralized Autonomous Organization) but also impacts the Palm Foundation’s grant program and future governance of the network.
Additionally, through various programs like training, mentorships, and grant opportunities, the Palm Foundation aims to democratize access to education and resources globally, fostering a vibrant ecosystem.
PalmDAO and Palm Academy: Shaping the Future of Web3
PalmDAO, a groundbreaking toolkit, empowers creators to self-organize using a purpose-designed, open-source, on-chain DAO-as-a-service. This platform offers real impact and self-determination for individuals within the network.
Meanwhile, Palm Academy is revolutionizing education by combining learning with blockchain technology. Students and faculty can collect POCs after completing courses, making education not only rewarding but also a pathway to greater involvement in the Palm Network.
A Collaboration for the Future
The collaboration between the Palm Foundation and Polygon Labs, supported by ConsenSys, is set to revolutionize the landscape of blockchain technology. As a zkEVM multiprover, the Palm Network is destined to provide a highly-performant, customizable, and low-fee environment, ensuring the seamless experience of users even during high network activity.
The Palm Network’s official launch on August 1st promises to open up a new era of possibilities for creators, fans, and industry leaders across art, technology, sports, and entertainment.
The integration of Polygon’s cutting-edge technology with the Palm Network marks a significant milestone in the world of Web3. With a strong focus on empowering creators, democratizing art and technology, and nurturing a vibrant ecosystem, the Palm Foundation and Polygon Labs aim to reshape the future of digital experiences.
For more information about the Palm Network and its exciting partnership with Polygon, visit the official website and social media channels:
About Palm Network and Palm Foundation
Palm Network is a groundbreaking platform for IP creators, sports, and entertainment, bridging the gap between Web2 and Web3. The Palm Network Supernet offers unprecedented opportunities for creators to connect with their audience and harness the potential of blockchain technology. With a strong focus on democratizing art and technology by the Palm Foundation, promoting education via the Palm Academy and empowering decentralization via PalmDAO, and nurturing a vibrant ecosystem, Palm Network is at the forefront of a new era of creativity and innovation.
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