- IoTeX and Polygon Labs partner to merge IoTeX 2.0 with AggLayer for enhanced cross-chain DePIN adoption.
- AggLayer’s integration brings unified liquidity and ZK proofs, boosting security across multiple blockchains.
- New IoTeX infrastructure supports seamless multi-blockchain operations, linking DePIN dApps, Layer 2 chains, and devices.
IoTeX, a decentralized physical infrastructure network, has partnered with Polygon Labs to integrate its IoTeX 2.0 blockchain with AggLayer. Raullen Chai, CEO and co-founder of IoTeX, and Polygon co-founder Sandeep Nailwal made the announcement at the R3al World event in Singapore. This collaboration is expected to help increase the use of a decentralized physical infrastructure network (DePIN) through AggLayer’s effective cross-chain messaging and liquidity pooling.
AggLayer, an interoperability layer currently being developed by Polygon Labs and other contributors, is designed to provide unified liquidity and security across multiple blockchains. This strategic integration will allow IoTeX-based projects to issue rewards and offer users a choice of blockchain on which to settle transactions, thus fostering a more fluid and scalable multi-chain ecosystem.
Enhancing Cross-Chain Capabilities and Liquidity
The integration with AggLayer is set to unlock new liquidity and scaling opportunities for projects based on the IoTeX platform. By connecting different blockchain ecosystems, AggLayer facilitates smoother and more secure interactions across chains. This is particularly crucial for DePIN projects, which often require robust cross-chain capabilities to operate effectively. The use of zero-knowledge (ZK) proofs in AggLayer ensures that issues in one chain do not compromise the integrity or security of others, thereby enhancing the overall reliability of the blockchain infrastructure.
IoTeX’s upgrade to the 2.0 version, as detailed in their July white paper, includes composable modules and a unified trust layer to propel DePIN adoption to new heights. The white paper outlines a token economy that links DePIN dApps, Layer 2 chains, and devices, creating a comprehensive infrastructure that supports seamless integration with AggLayer. This infrastructure is designed to enable developers to easily build and deploy DePIN applications that can operate across multiple blockchains, enhancing the user experience and expanding the use of decentralized applications.
Polygon Labs and IoTeX: A Growing Ecosystem
Since its introduction in January, the blockchain aggregation layer developed by Polygon Labs has aimed to amalgamate several chains into one unified network to facilitate aggregated liquidity and security. The integration with IoTeX is part of a broader strategy to expand this ecosystem, which already includes a variety of projects such as OKX’s X Layer, Immutable, and Astar, among others. These projects are utilizing or planning to use the Polygon Content Deployment Kit (CDK) to develop their Layer 2 networks and connect to AggLayer.
The recent collaboration with crypto hardware manufacturer Fabric Cryptography, which brought custom ZK chips into the AggLayer ecosystem, is a testament to the ongoing enhancements in blockchain technology being spearheaded by Polygon Labs. Additionally, various projects within the Polygon ecosystem, including the geospatial data network Geodnet and the vehicle data monetization platform Dimo, have leveraged IoTeX’s infrastructure to enrich their applications and services.
disclaimer read moreCrypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
