Palm Network embraces Polygon’s ZK Supernet

The NFT-optimized Palm Network is set to undergo a transformative journey as it transitions into a Polygon ZK Supernet. Palm Network, which is currently operating as an Ethereum sidechain, will progress in two stages. On August 23, it will implement a proof-of-stake (PoS) consensus mechanism, followed by a full-fledged transition to a ZK-based layer 2 network using Polygon’s zero-knowledge protocol by 2024.

Polygon’s “supernets” are customizable blockchains created using Polygon consensus software, while the term “ZK Supernet” refers to a network using zero-knowledge proofs for Ethereum deposits and withdrawals. This transition promises to enhance security and accessibility for Palm Network users.

Notably, Palm Network has partnered with the renowned NFT marketplace Candy Digital, featuring licensed NFTs from esteemed brands such as NASCAR, Major League Baseball, Netflix, Warner Brothers, WWE, and more. Additionally, the network hosts the digital art distributor HENI.

Presently, as an Ethereum sidechain, Palm Network relies solely on its nodes for security. However, after the transition, transfers between Palm Network and Ethereum will leverage Polygon’s zero-knowledge proof protocols, partially relying on the Ethereum blockchain, potentially bolstering security.

Jordi Baylina, co-founder of Polygon, lauds Palm’s move, affirming that it will ensure a seamless user experience even during high network activity while simultaneously minimizing gas costs for the community. This transformation is envisioned to create a more accessible and democratic ecosystem.

Polygon has been actively building its “Polygon 2.0” ecosystem, which involves multiple ZK supernets interconnected through their software. However, competition exists from projects like Optimism’s “Superchain” and ZkSync, both of which aim to establish multi-network ecosystems with their respective software solutions.