1 year ago
Jayanti Kanani, 1 of the pioneering figures down Polygon (MATIC), announced his exit from the day-to-day operations of the company. Announcing his departure connected X (formerly Twitter):
“After kickstarting Polygon successful 2017, astir 6 months back, I decided to measurement backmost from the day-to-day grind… I’m much assured successful Polygon’s agleam aboriginal and passionate community. I’ll beryllium focusing connected caller adventures portion inactive cheering and contributing to Polygon from the sidelines.”
Sandeep Nailwal, Polygon’s different co-founder, admitted connected societal media to being ‘emotional‘ implicit Kanani’s departure, but wished his spouse well, writing: “Lets support pushing Polygon up together, wrong oregon extracurricular of Polygonlabs, it doesn’t matter.”
Polygon’s large year
Polygon has seen important developments successful 2023, with the announcement of Polygon 2.0 lasting retired arsenic the astir notable. Polygon 2.0, a important upgrade from its predecessor, is designed to found the web arsenic the “value furniture of the internet.” This upgrade aims to supply a web of Layer 2 chains powered by ZK proofs and a caller cross-chain coordination protocol, promising unlimited scalability and unified liquidity.
Another notable accomplishment successful 2023 was the open-sourcing of Polygon’s Web3 ID solution. This move allows developers to employment zero-knowledge proofs to negociate idiosyncratic credentials and identities privately. The toolset enables the usage of off-chain information for on-chain verification, widening its applicability crossed assorted sectors including KYC verification, e-commerce, and DAO administration.
In a concern determination that bolsters the information and trustworthiness of its platform, Polygon included Google Cloud arsenic a validator connected its proof-of-stake network. The inclusion of the infrastructure that powers YouTube and Gmail offers further information to the network.
Speed bumps
However, the roadworthy for Polygon was not wholly creaseless successful 2023. The SEC’s complaint against Coinbase for securities violations listed Polygon arsenic 1 of the crypto tokens considered to beryllium an unregistered security. Polygon Labs was not charged with immoderate wrongdoing successful that case, but the improvement presents a important regulatory challenge.
Nevertheless, Kanani leaves Polygon arsenic 1 of the wide web3 occurrence stories since its launch, weathering depressed marketplace sentiment portion continuing to amended its product. Still, the regulatory challenges presented this twelvemonth underline the analyzable scenery that Polygon, similar galore others successful the crypto space, indispensable navigate.
The station Polygon co-founder Jaynti Kanani steps down aft six years with project appeared archetypal connected CryptoSlate.
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