NEAR Foundation has announced the integration of NEAR Data Availability (DA) and Polygon CDK, a move aimed at providing cost-effective data availability to rollups. This integration comes at a crucial time when data publishing costs have reached their peak.
NEAR DA was selected for its efficiency and robust data availability, which helps simplify network structure and reduce overall costs for developers. Meanwhile, Polygon CDK offers a high level of simplicity for developers looking to architect Layer 2 chains with their own configurations.
According to Illia Polosukhin, co-founder of NEAR Protocol, the integration between NEAR DA and Polygon CDK is an exciting development that will bring about cost-effectiveness, fast data availability, and an enhanced user experience. The team at NEAR Protocol is confident in their ability to drive chain abstraction forward.
While some concerns have been expressed about the security implications of the integration, the NEAR Foundation has assured users that Ethereum will continue to provide all security guarantees as usual.
One advantage of this integration is that it will provide support and compatibility options to high-quality projects. NEAR and Polygon plan to collaborate on research to build zkWASM, which will enable developers to create their own zkWASM chains on NEAR DA.
Despite the announcement, both NEAR and MATIC tokens have struggled in the market. NEAR is currently trading at $3.03, representing a decrease of 9.25% in the last 24 hours. Over the past seven days, it has seen a decline of 14.15% but has risen by 10.65% in the last 30 days. The market cap has decreased by 9.20%, while the 24-hour volume has increased by 13.08% at the time of writing.
MATIC has also experienced a decline, with a 3.85% drop in the last 24 hours and a trading price of $0.7862. Over the past week, it has fallen by 13.57%, and in the last 30 days, it has decreased by 2.43%. The market cap and 24-hour volume have both slipped by 3.37% and 14.46% respectively.
The integration between NEAR DA and Polygon CDK comes shortly after the NEAR Foundation reported a strong financial position, with over $285 million in fiat currencies, 305 million NEAR tokens valued at approximately $1 billion, and $70 million in loans and investments. This puts the NEAR Foundation in a favorable position for future developments and projects.
The integration of NEAR DA and Polygon CDK holds great potential for developers looking to leverage cost-effective and efficient data availability. With ongoing research collaborations and the promise of future advancements, the partnership between NEAR and Polygon is poised to bring about significant changes in the blockchain ecosystem.
