Polygon Network

As per Coinmarketcap, the number of active users on the Polygon blockchain has officially overtaken ETH, according to their analysis on 3rd OCT. The site also added that the skyrocketing number of users is due to the upcoming mobile game Arc8. Polygon Active Addresses Skyrockets As per the Polygon scan, 531,831 addresses were using the polygon blockchain on Oct 3, 2021. Comparatively, the ETH network was serving about 472,079 active users on the same date. While the numbers of users…

The Coinbase exchange looks forward to using the Polygon blockchain in its operations. The Ethereum layer two protocol is going to act as the exchange’s scaling solution. According to Coinbase, applying the Polygon blockchain also benefits Ethereum’s network. The merger can solve various issues on Ethereum, such as high fees. Polygon Partners with Coinbase Ethereum’s network continues to face scalability issues as it moves to a PoS ecosystem. Thus, such problems led to the development of a scaling solution known…

On Tuesday 10th August 2021, cross-chain Defi platform Poly network got hacked, with the alleged attackers draining more than $600 million on BinanceChain, Ethereum, and OxPolygon. This is the largest DeFi hack to date. According to Igor Igamberdiev, the leading cause of the attack is attributed to a cryptographic issue – although this is not usually the case. It can be likened to the Anyswap exploit, which led to $7.9 million's theft due to the hacker reversing the private key.…