Coinbase to Use Polygon’s Ethereum Scaling Solution to Reduce Prices, Settlement Times

The engineering team at Coinbase, a US cryptocurrency exchange, plans to integrate a Layer 2 (L2) scale solution for polygons for Ethereum with the exchange platform.
According to a press release on Tuesday, this move is the first for Coinbase’s protocol team to reduce high prices and long billing times. Integration with Coinbase allows Exchange users to withdraw directly to a compatible L2 solution. The exact date of the L2 integration has not yet been announced. According to Coinbase, the protocol team is a group of experienced engineers who aim to help shrink blocks and build communities. The team is focused on integrating various technologies with Coinbase products. According to the statement, the goal is to “level the competition” while not losing prices for retail users to join this new ecosystem. “This definitely helps improve the Coinbase user experience,” said Sandeep Nailwal, co-founder of Polygon. Last month, Polygon merged with the accumulated platform Hermez Network in a $ 250 million transaction. This was the first complete merger from one blockchain network to another.

Published
Categorized as gerit