BitcoinWorld

Blockchain News

Polygon Partners With BitGo After a Contentious Hardfork Upgrade

Polygon has teamed with BitGo to give MATIC holders with staking options. The governance facilitator spoke about the latest controversy.

Throughout the crypto winter, the Polygon network has been known for its multiple strategic alliances. It recently announced a cooperation with crypto custody provider BitGo to provide staking services to ERC-20 MATIC holders.

MATIC holders will now have access to wallet and custody services thanks to a new collaboration between Polygon and BitGo. MATIC holders on the ERC-20 chain can earn rewards by staking their currencies as well.

“By delivering more features for MATIC, we’re providing investors with a safer way to safeguard their funds and platforms with the tools they need to develop the future,” said Chen Fang, Chief Operating Officer of BitGo.

On January 17, Polygon stated that it had successfully completed the Delhi hard fork, which intended to cut gas expenses and reorganise the address chain. The community was surprised by the hard fork because just 15 validators participated in the voting process.

However, Mateusz Rzeszowski, Polygon’s governance facilitator, posted a Twitter thread to give further light on the upgrade’s execution. As of January 18, all active validators had completed the Delhi hard fork. According to a Polygon forum, the 3.5 billion MATIC coins staked authenticate the upgraded version of the chain.

This week, the price of MATIC is falling. However, there hasn’t been any movement in the asset’s price in the last 24 hours. It is presently trading at $0.9526, down 0.4% from its opening price.

 

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.