{"id":356722,"date":"2023-11-09T19:00:26","date_gmt":"2023-11-09T13:30:26","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=356722"},"modified":"2023-11-09T14:04:49","modified_gmt":"2023-11-09T08:34:49","slug":"what-polygons-partnership-with-near-protocol-means-for-you","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/what-polygons-partnership-with-near-protocol-means-for-you\/","title":{"rendered":"What Polygon&#8217;s partnership with Near Protocol means for you"},"content":{"rendered":"<ul>\n<li><em>The new zkWasm solution would enable Near Protocol to access Ethereum&#8217;s big liquidity pool.<\/em><\/li>\n<li><i>Polygon developers will have the option to build using the programming language of their choice.<\/i><\/li>\n<\/ul>\n<p>Ethereum [ETH] scaling solution Polygon Labs [MATIC] announced a partnership with layer-1 blockchain Near Protocol [NEAR] in a bid to boost cross-chain interoperability.<\/p>\n<p>As per details shared in a <a href=\"https:\/\/polygon.technology\/blog\/polygon-labs-and-near-foundation-collaborate-to-build-a-zkwasm-prover-as-a-component-for-polygon-cdk?utm_source=twitter&amp;utm_medium=social&amp;utm_content=near-zkwasm-blog\" target=\"_blank\" rel=\"noopener\">blog post,<\/a> the two entities joined hands to develop zkWasm, a zero-knowledge (ZK) protocol for WebAssembly (<a href=\"https:\/\/webassembly.org\/\">Wasm<\/a>) blockchains. The aim was to bridge the gap between Wasm blockchains and Ethereum ecosystem.<\/p>\n<h4>Let&#8217;s understand the tech of it all<\/h4>\n<p>It&#8217;s well known that Ethereum pioneered the development of decentralized applications (dApps) through Ethereum Virtual Machine (EVM) &#8211; the standard on which all protocols on Ethereum run.<\/p>\n<p>Owing to the popularity and apparent interoperability benefits, many other blockhains like the BNB Chain [BNB], Avalanche [AVAX], and Polygon, became EVM-compatible.<\/p>\n<p>While thousands of dApps have reaped the benefits of EVM, the solution began to show its limitations in recent years.<\/p>\n<p>One of the foremost was the lack of popular language options available to developers apart from Solidity. It was a time-consuming and difficult process for anyone who wished to use a different language to work in this ecosystem.<\/p>\n<p>The Wasm technology has been viewed as the main competitor to the EVM. Wasm expands the family of languages available to smart contract developers to include Rust, C\/C++, and C#.<\/p>\n<p>The high-performance framework has been used for running complex programs in web browsers, including Google and Mozilla.<\/p>\n<h4>A new feat in cross-chain interoperability<\/h4>\n<p>Interestingly, Near Protocol allows developers to employ the Wasm technology to build dApps. The new zkWasm solution therefore intended to act as the bridge, enabling Near to access Ethereum&#8217;s big liquidity pool.<\/p>\n<p>Moreover, the collaboration would give additional options for Polygon developers. Polygon co-founder Sandeep Nailwal, while responding to the news of the partnership, said on X (formerly Twitter),<\/p>\n<blockquote><p>&#8220;Polygon Ecosystem gets Wasm appchains, perhaps even with Near mainnet codebase, where devs can build a sharded smart contracts platform where app devs can build smart contracts using any programming language of their choice like C++, Rust, and many others.&#8221;<\/p><\/blockquote>\n<p>Furthermore, developers would have the flexibility either to launch an EVM chain, or build a WASM chain for closer Ethereum alignment and access to liquidity.<\/p>\n<p>According to an official X <a href=\"https:\/\/x.com\/NEARProtocol\/status\/1722276234946826691?s=20\" target=\"_blank\" rel=\"noopener\">post<\/a> by Near Protocol, the product was under development as of press time and slated to launch next year.<\/p>\n<p>The partnership was just one of many initiatives undertaken by Web3 companies to strengthen cross-chain interoperability. The hot trend could pave the way for creation of powerful new products and services that leverage the benefits of multiple networks simultaneously.<\/p>\n<h4>MATIC reacts positively<\/h4>\n<p>The news of the deal increased demand for Polygon&#8217;s native coin, MATIC. The cryptocurrency jumped 8.39% to $0.82 at press time, the highest since mid-July, according to <a href=\"https:\/\/coinmarketcap.com\/currencies\/polygon\/\" target=\"_blank\" rel=\"noopener\">CoinMarketCap<\/a>.<\/p>\n<p>The thirteenth-largest crypto by market cap benefitted from the prevailing bullish sentiments in the market. Since the 19th of October, MATIC has increased by more than 60%, making it one of the top performing altcoins.<\/p>\n<p>Notably, whale accumulation has assisted the growth significantly. According to on-chain analytics firm <a href=\"https:\/\/x.com\/santimentfeed\/status\/1722486477433774460?s=20\" target=\"_blank\" rel=\"noopener\">Santiment<\/a>, wallets holding between 100,000- 10 million MATICs added 42.88 million coins in the last two weeks.<\/p>\n<p>Additionally, 161 whale transactions worth more than $100,000 were recorded on 8 November, the highest since July.<\/p>\n<figure id=\"attachment_356774\" aria-describedby=\"caption-attachment-356774\" style=\"width: 1749px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/11\/MATIC.jpg\"><img decoding=\"async\" class=\"size-full wp-image-356774\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/11\/MATIC.jpg\" alt=\"\" width=\"1749\" height=\"1054\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/11\/MATIC.jpg 1749w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/11\/MATIC-300x181.jpg 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/11\/MATIC-1024x617.jpg 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/11\/MATIC-768x463.jpg 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/11\/MATIC-1536x926.jpg 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/11\/MATIC-400x240.jpg 400w\" sizes=\"(max-width: 1749px) 100vw, 1749px\" \/><\/a><figcaption id=\"caption-attachment-356774\" class=\"wp-caption-text\">Source: Santiment<\/figcaption><\/figure>\n<hr \/>\n<p style=\"text-align: center;\">Read <a href=\"http:\/\/ambcrypto.com\/predictions\/matic-network-price-prediction\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">Polygon&#8217;s [MATIC] Price Prediction<\/a>\u00a02023-24<\/p>\n<hr \/>\n<p>On the other hand, NEAR saw a comparatively subdued response. The coin was exchanging hands at <a href=\"https:\/\/coinmarketcap.com\/currencies\/near-protocol\/\" target=\"_blank\" rel=\"noopener\">$1.5<\/a> at press time, with gains of just 2.28%.<\/p>\n<p>Having said that, the broader market bullishness turned the fortunes for NEAR as well. The coin enjoyed monthly gains of nearly 39% at the time of writing.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Polygon joins hands with layer-1 blockchain\u00a0Near Protocol to bridge the gap between Wasm blockchains and the Ethereum ecosystem.<\/p>\n","protected":false},"author":80,"featured_media":356726,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,66,3,4,20],"tags":[1266],"class_list":["post-356722","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-new-news","category-news","category-social","category-trading-view","tag-matic"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.3) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>What Polygon&#039;s partnership with Near Protocol means for you - 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