Polygon onboards Simba Chain for Ethereum scaling and infrastructure development

Published at: March 17, 2022

Ethereum (ETH) layer-2 solution Polygon (MATIC) is integrating the Simba Chain to scale and build new infrastructure for Web3, according to a new announcemen.

While Polygon is known to be a scaling solution provider, the new partnership aims to build the next chapter for Web3 and expand the scope of services offered by the Polygon network. The first significant development between the two firms will be the launch of a white-label NFT marketplace.

With the growing influence and popularity of Web3, major Web2 firms are looking to make the shift, but they got the cold feet due to the hassle of building a decentralized infrastructure from scratch. Simba aims to lower the barrier with its tools and services. The company offers a cloud-based smart contract platform with enterprise-level security for the organization.

Simba Chain is an API development platform focused on offering infrastructure for Web3 project developments to Web2 companies. The firm aims to lower the barrier of entry for new firms in the Web3 ecosystem. The Web3 developer platform has also made a name for itself for offering technology solutions to several United States defense organizations.

Related: New application merges DeFi 2.0 protocols with yield optimization on Polygon

Aside from the white-label NFT marketplace, Simba and Polygon will work to promote and widely integrate Simba's metadata registry bridge (MDR), with the goal of improving safe digital asset custody solutions through widespread interoperability. Simba Chain CEO and co-founder Joel Neidig told Cointelegraph:

“Simba provides developers the flexibility to build on any chain and to change chains at any point in the project, as the platform is chain agnostic."

This flexibility gives the developer the ability to adapt to changing requirements of a given project without having to entirely rebuild, Neidig added.

The Web3 infrastructure provider had raised $25 million in September 2021 in a Series A funding round and has built several mainstream partnerships for its NFT marketplace as well.

Tags
Blockchain
Business
Polygon
Smart Contracts
Web3
Related Posts
Wear-to-earn NFTs target the billion-dollar fashion industry
The rise of the Metaverse and Web 3.0 are set to disrupt multiple sectors including the billion-dollar global fashion industry. As the world moves from physical to digital, traditional fashion design can transform into virtual wearables that can be leveraged in both augmented reality (AR) and in real life. Megan Kaspar, managing director at Magnetic Capital and member of Red DAO — a fashion-focused decentralized autonomous organization — told Cointelegraph she believes that digital fashion nonfungible tokens, or NFTs, will be the largest NFT category of Web 3.0: “Digital fashion NFTs include clothing, shoes, jewelry, accessories and more that can …
Adoption / Dec. 1, 2021
Stacks’ Mitchell Cuevas talks building integrated DeFi bridges for Bitcoin users
The Stacks ecosystem is a collection of independent entities, developers and community members working to build a user-owned internet on the Bitcoin (BTC) blockchain. Stacks’ STX cryptocurrency was distributed to the general public through the first-ever Securities and Exchange Commission-qualified token offering in the United States. Mitchell Cuevas, head of growth for the Stacks Foundation, held an exclusive ask-me-anything, or AMA, session with Cointelegraph Markets Pro users on Dec. 2. During the session, he discussed the Stacks blockchain’s technological capabilities, future growth and major developments. Cointelegraph Markets Pro User: PoW [proof-of-work] blockchains are known to be the most secure. Does …
Adoption / Dec. 9, 2021
Can Web3 be hacked? Is the decentralized internet safer?
Web3 came into existence posed as a blockchain-powered disruption to the current state of the internet. Yet, as a nascent technology, a fog of assumptions plagues discussions about the real capabilities of Web3 and its role in our day-to-day lives. Considering the promise of a decentralized internet using public blockchains, a complete transition to Web3 would require scrutiny across several factors. Out of the lot, security stands as one of the most crucial features as, in a Web3-powered world, tools and applications hosted over the blockchains go mainstream. Smart contract vulnerabilities While the blockchains that host Web3 applications remain impenetrable …
Adoption / Aug. 21, 2022
Mastercard partners with Polygon to launch Web3 musician accelerator program
Global payments giant Mastercard is ramping up its exposure blockchain tech yet again, after announcing a Polygon-based accelerator program to help musicians build their careers via Web3. The firm announced the "Mastercard Artist Accelerator" program via a Jan. 7 blog post, outlining that from this spring, it will connect five emerging musicians from across the globe with mentors that will help them set up their brand in the Web3 music space. "The artists will gain exclusive access to special events, music releases and more. A first-of-its-kind curriculum will teach the artists how to build (and own) their brand through Web3 …
Music / Jan. 6, 2023
10 ways blockchain developers can use ChatGPT
Blockchain technology has revolutionized the way we think about data storage and transactions, but it can also be a complex field for developers to navigate. One tool that can help simplify the process is ChatGPT, a large language model created by OpenAI. A language model is a type of artificial intelligence model that is trained on a large corpus of text to generate or predict text. It can be used to generate new text, such as in machine translation, or to predict the likelihood of a sequence of words. It uses natural language processing and machine learning techniques to learn …
Adoption / Jan. 20, 2023