Polygon and Fox Corporation Team Up for Verify: A Deep Dive into Their zk-powered L2 Chain

• Polygon and Fox Corporation have inked a partnership to drive information validation.
• The partnership led to the launch of Verify, which is powered by Polygon CDK and Gelato RaaS.

Fox Corporation, a top media firm in the US, recently launched its first enterprise Layer-2 solution, Verify, in partnership with the Polygon blockchain. Launched on the Gelato network, Verify is powered by Polygon’s Chain Development Kit (CDK), a framework for building zero-knowledge proofs-based blockchains.

How “Verify” on Polygon Works

Verify aims to transform content creation, distribution, and monetization for media companies like TIME Magazine, which has already signed on as the first external publishing partner.

and what is Verify?

Fox Corp.’s dedicated zk-powered L2 chain built using Polygon CDK, with Gelato as the RaaS implementation provider

mooooore here ↓https://t.co/yOF4WbvTnv

— Polygon | Aggregated (@0xPolygon) June 24, 2024

The platform allows companies to register their content, grant usage rights to AI platforms, and equip consumers with tools to verify the origin of information they encounter. This results in benefits for both publishers and consumers.

For publishing firms, Verify grants them the ability to license and track content usage. This ensures they receive proper compensation while maintaining control over their work distribution. Consumers can leverage Verify to confirm the origin of the content, empowering them to make informed decisions. This is particularly important in a world with widespread misinformation.

Moreover, AI developers relying on licensed content can now leverage Verify L2 to ensure trustworthy information fueling their creations. This builds consumer confidence in AI-powered applications.

The technical backbone of Verify L2 is a powerful combination of Gelato RaaS and Polygon’s CDK. This combination provides the foundation for Verify’s L2 chain, enabling near-instantaneous transaction finality and ultra-low fees. Verify boasts a block time of approximately 7 seconds and a transaction processing speed of 2,500 Transactions Per Second (TPS). 

Also, costs are kept at just $0.02 per transaction, making the platform accessible to a wider range of users. Additionally, the platform offers scalability, allowing it to handle millions of users seamlessly. Overall, the future of content creation looks bright with the combined forces of Gelato, Polygon, and companies like Fox and TIME.

Polygon’s Dominance in Blockchain Integrations

Polygon has become a blockchain of choice for many developers building secure and scalable Zk Layer 2 networks. For instance, Ternoa, a prominent blockchain player, recently announced zkEVM+, a secure and privacy-focused Layer 2 solution built using Polygon CDK. 

This follows their successful launch of a decentralized privacy stack in 2023, as previously reported by Crypto News Flash. Additionally, Arcana Network is leveraging Polygon CDK to enhance the decentralization of its web3 products. The network will use the Polygon CDK to enhance its Arcana Validium protocol, citing earlier statements from Crypto News Flash.

With the recent launch of pessimistic proofs utilizing SP1, a leading zkVM solution, Polygon is further solidifying its position as a leader in blockchain interoperability. Despite positive development in the Polygon ecosystem, MATIC, the native token, seems to be in a trading downturn.

At press time, MATIC is trading at $0.5537, demonstrating a 2.3% decrease in the past day, per data from MarketCap.

The trading volume decreased by 33% to $181 million, while the market cap is at $5.4 billion.