, , , , ,

Polygon partners with rollup provider Eclipse to expand blockchain interoperability with Solana

Polygon is partnering with customizable rollup provider Eclipse to launch a Solana-focused scaling solution, the companies exclusively told TechCrunch.

Rollups, a part of the layer-2 blockchain ecosystem, are a scaling solution to help make blockchains faster and cheaper. Rollups work by compiling a number of transactions into one bundle to go onto a layer-1 blockchain like Ethereum or Solana. So basically, instead of sending thousands of individual transactions, it’s one larger one that costs less.

The Polygon Solana – or Sealevel – Virtual Machine (SVM) will be powered by Eclipse and will be able to run smart contracts and tooling compatible with Solana, which will ultimately increase throughput speed and interoperability for crypto subsectors like gaming, DeFi and more, Neel Somani, founder of Eclipse, said to TechCrunch.

“Ethereum was obviously still really slow and still very expensive, so it was very obvious rollups were the path to scaling Ethereum,” Somani said. “So we were thinking, what if we made a highly parallelized rollup, but the difference is that we stick to standard set of tooling that already exists like the Solana Virtual Machine or Ethereum Virtual Machine (EVM).”

That was the initial motivation behind Eclipse, but it’s evolved into a customizable rollup provider: People can pick their base level (like Polygon or Solana), choose a virtual machine like EVM or SVM, and make customizations in the application that might include different elements at the core level, Somani said.

Applications, games, projects, protocols and more are still “too expensive” in the crypto ecosystem, but rollups can help support different use cases without constraining the blockchain, Somani said.

Through the launch, decentralized applications (dApps) built for the Solana blockchain can migrate or become multichain through the Polygon SVM, which can open up the doors for both communities using and building on different blockchains.

Between the two communities, there’s been high demand for a collaborative solution in mainly the gaming and physical infrastructure application spaces, Somani said. “That’s the big areas we’ve been seeing demand for and it’s the areas where Polygon and Solana have been going after lately.”

In the long term, Eclipse sees this launch as just the beginning for scaling.

“I think this hinges toward a future proliferation of all kinds of virtual machines across all these different base layers,” Somani said. “This might be one example of an SVM rollup, but we are likely to see SVM on Ethereum mainnet or SVM on other base layers.”

Polygon partners with rollup provider Eclipse to expand blockchain interoperability with Solana by Jacquelyn Melinek originally published on TechCrunch

https://techcrunch.com/2023/02/23/polygon-partners-with-rollup-provider-eclipse-to-expand-blockchain-interoperability-with-solana/


Featured Posts

December 2024
M T W T F S S
 1
2345678
9101112131415
16171819202122
23242526272829
3031  

About Us

Welcome to encircle News! We are a cutting-edge technology news company that is dedicated to bringing you the latest and greatest in everything tech. From automobiles to drones, software to hardware, we’ve got you covered.

At encircle News, we believe that technology is more than just a tool, it’s a way of life. And we’re here to help you stay on top of all the latest trends and developments in this ever-evolving field. We know that technology is constantly changing, and that can be overwhelming, but we’re here to make it easy for you to keep up.

We’re a team of tech enthusiasts who are passionate about everything tech and love to share our knowledge with others. We believe that technology should be accessible to everyone, and we’re here to make sure it is. Our mission is to provide you with fun, engaging, and informative content that helps you to understand and embrace the latest technologies.

From the newest cars on the road to the latest drones taking to the skies, we’ve got you covered. We also dive deep into the world of software and hardware, bringing you the latest updates on everything from operating systems to processors.

So whether you’re a tech enthusiast, a business professional, or just someone who wants to stay up-to-date on the latest advancements in technology, encircle News is the place for you. Join us on this exciting journey and be a part of shaping the future.

Podcasts

TWiT 1011: The Year in Review – A Look at the Top Stories of 2024 This Week in Tech (Audio)

What's behind the tech industry's mass layoffs in 2024? : NPR Rabbit R1 AI Assistant: Price, Specs, Release Date | WIRED Stealing everything you've ever typed or viewed on your own Windows PC is now possible with two lines of code — inside the Copilot+ Recall disaster. Microsoft delays Recall after security concerns, and asks Windows Insiders for help The Qualcomm Snapdragon X Architecture Deep Dive: Getting To Know Oryon and Adreno X1 Elon Musk: First Human Receives Neuralink Brain Chip Apple hit with €1.8bn fine for breaking EU law over music streaming Bluesky emerges The hidden high cost of return-to-office mandates Apple's Car Was Doomed by Its Lofty Ambitions to Outdo Tesla SpaceX pulls off unprecedented feat, grabs descending rocket with mechanical arms U.S. versus Apple: A first reaction Google Says It Won't Force Gemini on Partners in Antitrust Remedy Proposal U.S. Accuses Chinese Hackers of Targeting Critical Infrastructure in America U.S. Agency Warns Employees About Phone Use Amid Ongoing China Hack AT&T says criminals stole phone records of 'nearly all' customers in new data breach National Public Data confirms breach exposing Social Security numbers Schools Want to Ban Phones. Parents Say No. New York passes legislation that would ban 'addictive' social media algorithms for kids GPT-4o (omni) + new "Her"-style AI assistant (it's nuts) Google emissions jump nearly 50% over five years as AI use surges Trump proposes strategic national crypto stockpile at Bitcoin Conference Ten additional US states join DOJ antitrust lawsuit looking to break up Live Nation and TicketmasterThe Internet Archive just lost its appeal over ebook lending Hezbollah Pagers Explode in Apparent Attack Across Lebanon OpenAI raises $6.6 billion in largest VC round ever Painting by A.I.-Powered Robot Sells for $1.1 Million Netflix's Live Mike Tyson Vs. Jake Paul Fight Battling Sound & Streaming Glitches In Lead-Up To Main Event Infowars Sale to The Onion Rejected by Federal Bankruptcy Judge Supreme Court agrees to hear challenge to TikTok ban So You Want to Solve the NJ Drone Mystery? Our Expert Has Some Ideas Beeper's push for iMessage on Android is really over The Quiet Death of Ello's Big Dreams Japan finally ends mandatory form submission on floppy disks We'll Miss You: Pioneering instant messaging program ICQ is finally shutting down after nearly 30 years Spotify is going to break every Car Thing gadget it ever sold Game Informer to Shut Down After 33 Years In Memoriam Host: Leo Laporte Guests: Fr. Robert Ballecer, SJ, Richard Campbell, and Mikah Sargent Download or subscribe to This Week in Tech at https://twit.tv/shows/this-week-in-tech Get episodes ad-free with Club TWiT at https://twit.tv/clubtwit Sponsor: bitwarden.com/twit
  1. TWiT 1011: The Year in Review – A Look at the Top Stories of 2024
  2. TWiT 1010: The Densest State in the US – TikTok Ban, Drones Over Jersey, GM Quits Robotaxis
  3. TWiT 1009: Andy Giveth & Bill Taketh Away – Trump's Tech Titans, Crypto Boom, TikTok's US Ban, Intel CEO Exits
  4. TWiT 1008: Internet Legal – Australia's Social Media Ban for Kids, Smart Home Nightmare, Bluesky's Ascent
  5. TWiT 1007: All the Hotdogs in the World – China's "Salt Typhoon" Hack, Google on the Chopping Block, Recall AI