Palm Network announces migration to a POS chain through Polygon CDK

Palm Foundation has announced that it will now migrate to a POS Chain using the capabilities of Polygon CDK. The objective is to move closer to decentralization and an environment where projects can collaborate for innovation. Some contributors to the development are ConsenSys, HENI, and Palm NFT Studio, now known as Candy Digital.

Every contributor has brought a set of elements with them. For instance, ConsenSys is credited with providing network support and minting the genesis block. Similarly, HENI was part of an NFT drop, helping teams by creating, promoting, and planning the entire event with Currency by Damian Hirst. Paml NFT Studio, or Candy Digital, is a team behind landing nearly 7 million non-fungible tokens minted on the Palm Network. It has further facilitated the onboarding process of over 1.7 million wallets.

The migration from Besu to Polygon CDK has been called a major technical milestone. Palm Foundation has said that there was a lot of work to be done about custom code to offer support to both chains. It is now aiming to transform to Polygon zkEVM maximum by the end of the first quarter of the next year, that is 2024.

Andrea Lerdo, the Executive Director at Palm Foundation, has said they are officially moving to the age of community, decentralization, and collaboration. Andrea has also expressed their excitement about completing the first step in the roadmap for becoming a zkEVM chain. They have acknowledged the efforts invested by Sandeep Nailwal and Joe Lubin, which has helped them scale activities at the Palm Network. Thereby allowing the team to become a destination chain for all creators.

Sandeep Nailwal, a Co-Founder of Polygon, has responded to this statement by saying that they are also excited with the next step that Palm Network has taken towards becoming more decentralized. Sandeep has even called this a big move, adding that they are looking forward to how Palm Network contributes to the overall ecosystem of Web3.

The development comes days after Palm Foundation hosted Wallet Security in Web3: Staying & Operating Safely. The single-session event was conducted by Sergio Silva, the Senior Director at Fireblocks, who is known for his creativity behind Seize the Meebs.

It was hosted on October 26, 2023, at 5 p.m. EST, with final project submission due between the next day and November 03, 2023, 11:59 p.m. EDT. The course, even though it had a single session, covered a wide spectrum of topics – basics of account types, wallet types, securing funds, securing operations, and detecting threats. Candidates were only required to know the basic fundamentals of using Web3.

Circling back to Plam Network’s migration to a POS chain via Polygon CDK, all the contributors have expressed confidence in the association, assuring the community that it will lead to more decentralization, creation of communities, and fuel collaboration to help introduce innovation to the world of Web3.

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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