{"id":362447,"date":"2023-10-04T19:00:54","date_gmt":"2023-10-04T18:00:54","guid":{"rendered":"https:\/\/cryptoslate.com\/?p=362447"},"modified":"2023-10-04T19:00:44","modified_gmt":"2023-10-04T18:00:44","slug":"polygon-co-founder-jaynti-kanani-steps-down-after-six-years-with-project","status":"publish","type":"post","link":"https:\/\/cryptoslate.com\/polygon-co-founder-jaynti-kanani-steps-down-after-six-years-with-project\/","title":{"rendered":"Polygon co-founder Jaynti Kanani steps down after six years with project"},"content":{"rendered":"<p>Jayanti Kanani, one of the pioneering figures behind Polygon (<a href=\"https:\/\/cryptoslate.com\/coins\/polygon\/\">MATIC<\/a>), announced his exit from the day-to-day operations of the company. Announcing his departure on X (formerly <a href=\"https:\/\/cryptoslate.com\/companies\/x\/\">Twitter<\/a>):<\/p>\n<blockquote><p>&#8220;After kickstarting Polygon in 2017, around 6 months back, I decided to step back from the day-to-day grind&#8230; I'm more confident in Polygon's bright future and passionate community. I'll be focusing on new adventures while still cheering and contributing to Polygon from the sidelines.&#8221;<\/p><\/blockquote>\n<p><a href=\"https:\/\/cryptoslate.com\/people\/sandeep-nailwal\/\">Sandeep Nailwal<\/a>, Polygon's other co-founder, admitted on social media to being &#8216;<a href=\"https:\/\/twitter.com\/sandeepnailwal\/status\/1709577134933410008\">emotional<\/a>&#8216; over Kanani's departure, but wished his partner well, writing: &#8220;Lets keep pushing Polygon ahead together, inside or outside of Polygonlabs<em>,<\/em> it doesn't matter.&#8221;<\/p>\n<h2>Polygon's big year<\/h2>\n<p>Polygon has seen significant developments in 2023, with the announcement of <a href=\"https:\/\/cryptoslate.com\/polygon-labs-announces-polygon-2-0\/\">Polygon 2.0<\/a> standing out as the most notable. Polygon 2.0, a substantial upgrade from its predecessor, is designed to establish the network as the &#8220;value layer of the internet.&#8221; This upgrade aims to provide a network of Layer 2 chains powered by ZK proofs and a novel cross-chain coordination protocol, promising unlimited scalability and unified liquidity.<\/p>\n<p>Another notable achievement in 2023 was the open-sourcing of Polygon's <a href=\"https:\/\/cryptoslate.com\/polygon-open-sources-its-web3-id-solution\/\">Web3 ID solution<\/a>. This move\u00a0allows developers to employ zero-knowledge proofs to manage user credentials and identities privately. The toolset enables the use of off-chain data for on-chain verification, widening its applicability across various sectors including KYC verification, e-commerce, and DAO administration.<\/p>\n<p>In a partnership move that bolsters the security and trustworthiness of its platform, Polygon included Google Cloud as a <a href=\"https:\/\/cryptoslate.com\/polygon-adds-google-cloud-to-its-validator-set\/\">validator<\/a> on its proof-of-stake network. The inclusion of the infrastructure that powers YouTube and Gmail offers additional security to the network.<\/p>\n<h2>Speed bumps<\/h2>\n<p>However, the road for Polygon was not completely smooth in 2023. The SEC's charge against Coinbase for securities violations <a href=\"https:\/\/cryptoslate.com\/seven-bombshells-from-the-secs-coinbase-suit\/\">listed<\/a> Polygon as one of the crypto tokens considered to be an unregistered security. Polygon Labs was not charged with any wrongdoing in that case, but the development presents a significant regulatory challenge.<\/p>\n<p>Nevertheless, Kanani leaves Polygon as one of the clear web3 success stories since its launch, weathering depressed market sentiment while continuing to improve its product. Still, the regulatory challenges presented this year underline the complex landscape that Polygon, like many others in the crypto space, must navigate.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Jayanti Kanani, one of the pioneering figures behind Polygon (MATIC), announced his exit from the day-to-day operations of the company. Announcing his departure on X (formerly Twitter): &#8220;After kickstarting Polygon in 2017, around 6 months back, I decided to step back from the day-to-day grind&#8230; I&#8217;m more confident in Polygon&#8217;s bright future and passionate community. [&hellip;]<\/p>\n","protected":false},"author":1419,"featured_media":362450,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37],"tags":[76797,76918],"prediction_market_topic":[],"post_folder":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.9 (Yoast SEO v21.9.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Polygon co-founder Jaynti Kanani steps down after six years with project<\/title>\n<meta name=\"description\" content=\"The co-founder announced he would formally step away from the project at the tail end of a highly eventful year.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptoslate.com\/polygon-co-founder-jaynti-kanani-steps-down-after-six-years-with-project\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Polygon co-founder Jaynti Kanani steps down after six years with project\" \/>\n<meta property=\"og:description\" content=\"The co-founder announced he would formally step away from the project at the tail end of a highly eventful year.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptoslate.com\/polygon-co-founder-jaynti-kanani-steps-down-after-six-years-with-project\/\" \/>\n<meta property=\"og:site_name\" content=\"CryptoSlate\" \/>\n<meta property=\"article:published_time\" content=\"2023-10-04T18:00:54+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-10-04T18:00:44+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/10\/steps-down.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"630\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jacob Oliver\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:site\" content=\"@cryptoslate\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jacob Oliver\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/cryptoslate.com\/polygon-co-founder-jaynti-kanani-steps-down-after-six-years-with-project\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/cryptoslate.com\/polygon-co-founder-jaynti-kanani-steps-down-after-six-years-with-project\/\"},\"author\":{\"@type\":\"Person\",\"@id\":\"https:\/\/cryptoslate.com\/author\/jacob-oliver\/#person\",\"name\":\"Jacob Oliver\",\"url\":\"https:\/\/cryptoslate.com\/author\/jacob-oliver\/\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/cryptoslate.com\/author\/jacob-oliver\/\"},\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/cryptoslate.com\/author\/jacob-oliver\/#authorimage\",\"url\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/05\/jacob-oliver-editor-300x300.jpg\",\"contentUrl\":\"https:\/\/cryptoslate.com\/wp-content\/uploads\/2023\/05\/jacob-oliver-editor-300x300.jpg\",\"caption\":\"Jacob Oliver\"},\"jobTitle\":\"Former Editor\",\"description\":\"Jacob Oliver is a recovering academic and English teacher turned crypto journalist and web3 writer. 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