Nonfungible token-focused blockchain Palm Network is about to become a great deal more accessible to users, with plans to transition into being a customized Polygon blockchain.
According to a July 26 announcement, Palm Network will soon become a Polygon (MATIC) ZK Supernet, which will see minting, trading, and collecting NFTs becoming more readily available to its users.
Additionally, Palm Network will become interoperable with Ethereum and the rest of the Polygon 2.0 ecosystem.
PALM on the journey to become ZKL2 with polygon Technology!
Don’t miss a talk with @lerdiedabirdie from ED @palmfdn and @sandeepnailwal , the Founder of @0xPolygonLabs.
Set your reminder now! ️https://t.co/pRDSFbtNaC pic.twitter.com/SutmzzqTMS
— Palmfdn (@palmfdn) July 27, 2023
Polygon “supernets” are customizable blockchains that are created using Polygon consensus software, while the term “ZK Supernet” refers to a network that uses zero-knowledge proofs to process deposits and withdrawals from Ethereum.
Palm Network’s transition to a Polygon Supernet will take place in two stages. On August 23, it will transition to a proof-of-stake (PoS) consensus mechanism network. Then sometime in 2024 it will transition into a ZK-based layer-2.
Palm Network has partnered with NFT marketplace Candy Digital, which carries licensed NFTs from NASCAR, Major League Baseball, Netflix, Warner Brothers, WWE and other brands. The digital art distributor HENI is also built on the network.
Candy Digital marketplace on Palm Network. Source: Candy Digital
Palm is currently an Ethereum (ETH) sidechain, which means that it relies entirely on its own nodes for security.
Once the transition process is completed, transfers between Palm Network and Ethereum will be processed using Polygon’s zero-knowledge proof protocols, making their security partially dependent on the Ethereum blockchain and therefore potentially more secure.
Related: Polygon 2.0 begins groundwork for decentralized governance
Polygon co-founder Jordi Baylina praised Palm’s move, saying…
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