NEAR Foundation announces Polygon CDK-NEAR DA integration

NEAR Foundation has announced the merging of NEAR DA and Polygon CDK. The technical integration aims to pass on the benefits of cost-effective data availability to rollups, particularly at a time when data publishing costs are at their highest.

NEAR DA has been chosen for its efficiency and robust availability of data. Data availability has been specifically crafted to help developers simplify the network structure and reduce overall cost. Polygon CDK, on the other hand, has been chosen for the level of simplicity that it provides to developers who are looking to architect L2 chains with a set of configurations of their own.

The official announcement has called NEAR DA a complete, out-of-the-box modular DA solution. Illia Polosukhin, the co-founder of NEAR Protocol, has echoed the sentiment, saying that they are excited to see what the technical integration between them rolls out in the times to come. Illia has further stated that they will be sharing the benefits of cost-effectiveness, fast data availability, and experience enhancement. The team behind the NEAR Protocol is confident about driving chain abstraction as well.

However, concerns have been expressed regarding what would happen to security after the integration is completed. The NEAR Foundation announced that Ethereum will continue to provide all security guarantees as normal. Another advantage cited is the quality of the projects that will have access to support and compatibility options.

Moving forward, NEAR and Polygon are looking to collaborate on their research to build zkWASM. It opens up the possibility for developers to have their own zkWASM chains built on NEAR DA.

NEAR and MATIC continue to struggle in the market despite the announcement. NEAR was last seen being traded at $3.03, a dip of 9.25% in the last 24 hours. It further reflects a drop of 14.15% in the last 7 days and a rise of 10.65% in the last 30 days. The market cap is down by 9.20%, while the 24-hour volume has jumped almost 13.08% at the time of writing this article.

MATIC is not precisely having the best time of its life. The token has plummeted by 3.85% in the last 24 hours, exchanging hands at $0.7862. It drops 13.57% in the last 7 days and 2.43% in the last 30 days. The market cap and 24-hour volume have slipped by 3.37% and 14.46% in the same order.

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The integration of NEAR DA with Polygon CDK comes days after the NEAR Foundation reported a strong position in the market with over $285 million in fiat currencies. It additionally has 305 million NEAR tokens that are worth ~$1 billion, along with $70 million in loans and investments. Meaning, the NEAR Foundation is rightly positioned for all the upcoming developments and growing projects.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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