Palm Network to Deploy on Polygon's Supernet by 2024

Palm Network to Deploy on Polygon’s Supernet by 2024

Time Stamp: July 27, 2023 9:12 AM
Source Node: 2788510

According to the Palm Foundation director, the company wants to become “the go-to destination for any creator that wants to delve into Web3.”

A significant transition is on the horizon for Palm Network as it prepares to join Polygon’s Supernet, an event set to redefine the platform’s path by 2024.

Initially, the platform expects to swap from its current proof-of-authority (PoA) consensus to proof-of-stake (PoS) by August 1st. This shift will ultimately lead to the full integration into Polygon’s network, slated for completion next year.

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The switch to Polygon’s Supernet, specifically its efficient app-dedicated chains, seeks to amplify the platform’s reach, inviting more artists and renowned brands to immerse themselves in the exciting realm of Web3.

Andrea Lerdo, Palm Foundation director, voiced her aspirations for the platform’s growth, stating:

We want to scale the network to be the go-to destination for any creator that wants to delve into Web3. We want to give fans a new outlet to interact with their favorite brands, themes, sports, or players.

Polygon’s recently announced network upgrade will feature app-specific chains, Supernets, designed for diverse sectors such as financial markets and NFT creation. It also paves the way for the potential integration of zero-knowledge (ZK) technology in the future.

Originally an Ethereum sidechain, Palm Network provides the necessary tools for creators and artists to express, tokenize, and market their works. A notable merger with Candy Digital has enabled the platform to showcase valuable intellectual properties from global brands such as Major League Baseball and Warner Brothers.

Initially launched by ConsenSys in 2021, Palm Network’s choice to embrace Polygon’s tech stack over ConsenSys’ newly launched Layer-2 solution, Linea, is a unique example of collaborative efforts in an otherwise highly competitive industry.

Even though Palm Network finds itself delicately poised between Polygon’s technical support and ConsenSys’s business development and marketing assistance, Lerdo views this as a beneficial scenario for the broader ecosystem. With more contributors set to join Palm, the future looks promising for the world of Web3 creators.

Gile is a Market Sentiment Analyst who understands what public events may form what emotions. Her experience researching Web3 news and public market messages – including cryptocurrency news reports, PRs, and social network streams – is critical to her role in helping lead the Crypto News Editorial Team.
As an intelligent professional in public relations, together with the team, she aims to determine real VS fake news patterns, and bring her findings to anyone searching for unbiased news and events happening in the FinTech markets. Her expertise is uncovering the latest trustworthy & informative Web3 announcements to the masses.
When she’s not researching the trustworthiness of mainstream stories, she spends time enjoying her terrace view and taking meticulous care of her outdoor environment.

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