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Everest, a decentralized solutions provider for identity verification, has announced that it has integrated with Polygon. The move means that Everest’s EverChain is now fully interoperable with Polygon‘s chain. Thanks to Polygon’s standing as the leading platform for Ethereum scalability, Everest users will access a wide array of features.
On the other hand, Polygon users and developers will get to access Everest’s security features. These include biometrics identification, electronic KYC, and AML (Anti-Money Laundering) platforms. Additionally, they can now access regulated CRDT stablecoin for fiat-in/out worldwide to multiple DeFi projects. This will create a more secure and regulated platform for Everest users.
Furthermore, Everest has provided Polygon users with a means to seamlessly transfer their assets from Defi ecosystems to traditional finance platform. This will be done via Everest’s payments platform. The DeFi-fiat transfers will utilize CRDT stablecoins for transactions.
CRDT is backed by fiat, thus making it a viable and reliable medium. All transactions will be get support from segregated institutional pools and traditional banking pools. Also, CRDT holders can store them in their Polygon wallets. Ultimately, the set-up facilitates fast transactions and enables developers to create DeFi protocols specific to specific Polygon protocols. CRDT is essentially “programmable money”, and developers can set it up to reflect fiat deposits. The latest integration also supports task-specific functions and can be tailored to a specific retailer.
Polygon is a solution that enhances scalability on the Ethereum ecosystem. It facilitates faster transactions on Ethereum, which has often experienced congestion. As a scaling solution, Polygon processes some of the transactions on Ethereum off-chain on its proof-of-stake network. The mainnet only validates the transactions. This results in cheaper and faster transactions.
Everest is a decentralized platform whose blockchain technology enhances transaction efficiency between users and organizations. It specializes in providing blockchain-based biometric identity solutions and verification. These help in fighting fraud and money laundering across various blockchain platforms. Additionally, Everest’s trading platform offers exposure to more than 200 digital assets and has functionalities such as staking and borrowing.
Latest Polygon News Today
Polygon is currently inviting developers to participate in a hackathon to improve and prepare for web3. At the time of writing, the MATIC token was up by 1.10% in 24 hours, increasing its trading volume by 1.7% over the same period.