Polygonhas announced a shocking union. The instrument for scaling Ethereum Polygon has formed a new relationship with the technology firm Nothing to deliver Web3 to mobile devices, following in the footsteps of the Solana blockchain. Nothing has integrated the Polygon network into its new Android-based Nothing Phone to provide support for non-fungible tokens (NFTs).
According to Solana news today, the NFT initiative, also known as “Nothing Community Dots,” entails the distribution of airdropped tokens to Nothing community investors. These tokens enable investors to get benefits like early access to newly released goods and events. One of the first incentives is an invitation to the launch of Nothing Phone (1), which will take place in London on July 12.
The Saga device
The primary shareholder in the blockchain, Solana Labs, is releasing an Android device under the name “Saga,” which will be the name of the Solana network’s very own mobile phone.
An event on Thursday in New York revealed the future gadget, which was described as a modified OSOM phone with specialized crypto wallet functionalities and the “Solana Mobile Stack (SMS)” software development kit for Web3 apps. According to Solana Labs CEO Anatoly Yakovenko, it will have a price tag of around one thousand dollars and will be ready for delivery at the beginning of 2023. This has become the highlight of Solana news today.
The phone represents Solana’s most significant wager yet on mobile-focused expansion. It will have a mobile wallet adapter, a “seed vault” that will store private keys deep inside the depths of the phone, a Web3 dapp store, which stands for a “decentralized app,” integrated “Solana Pay” to permit QR code-based on-chain payments, and a mobile wallet adapter.
Polygon co-founder Sandeep Nailwal stated how the new technology incorporated in “Nothing” is extremely inspiring. By collaborating with Polygon, Nothing will embrace Web3 and provide direct access to it. But, of course, nothing is a company that provides direct access to Web3.
This news comes less than two weeks after Solana announced that it is developing its own blockchain phone, which will be called Saga. Saga will feature a Web3 dapp (decentralized app) store called Solana Pay, facilitating on-chain payments and a vault for storing private keys.
Polygon and Solana’s work represents a revival of attempts to design a phone native to the blockchain. In 2018, Sirin Labs made an effort to do the same thing; however, its plans did not gain pace, which resulted in layoffs and a lawsuit for unpaid manufacturing expenses. This has been obtained by all sources dealing with the Polygon latest news.
Should Polygon and Solana’s efforts prove to be fruitful, they may be able to realize their goal of making Web3 accessible to a large number of people by using the practicality of commonplace cell phones.
What is Polygon?
Polygon is a type of cryptocurrency that operates on the Ethereum blockchain. It is referred to as a “layer two” or “sidechain.” Polygon ensures that all transactions are completed effectively and at a cheap cost. The native cryptocurrency of the network is called MATIC, and it is utilized for various purposes, including fees, staking, and more. Exchanges like Coinbase allow for the purchase and sale of MATIC.
The Ethereum blockchain is the site of various financial transactions and activities, ranging from NFT marketplaces and games to the expanding DeFi ecosystem. Because it is compatible with smart contracts, which can be used to develop a wide variety of apps, Ethereum is an excellent choice for this endeavor because of its versatility. Consequently, transaction fees (also known as “gas”) may often climb to the point where it is economically unviable to make modest or frequent deposits.
What is Solana?
Solana is a blockchain platform that was created to host apps that are decentralized and scalable. It was launched in 2017 and is an open-source project managed by the Solana Foundation, located in Geneva. Solana Labs, located in San Francisco, developed the blockchain.
The number of transactions Solana can process is substantially higher than other blockchains. As a result, the costs associated with transactions are significantly cheaper. As a result, the value of the cryptocurrency on the Solana blockchain (SOLUSD) increased by almost 12,000% in 2021.
What is Web3?
Getting Started with Web3 Centralization has been crucial in onboarding billions of users to the World Wide Web and creating the solid and reliable infrastructure on which it runs. Yet, at the same time, a small number of centralized companies have a stranglehold on vast portions of the World Wide Web, making decisions about what should be permitted and what should not be allowed on their own.
The solution to this problem lies in Web3. Web3 promotes decentralization and is being constructed, managed, and owned by its users as opposed to the traditional Web model, which huge technological firms dominate. As a result, individuals, not large businesses, benefit from Web3’s power distribution.