March 28, 2023
Polygon News

Coinbase Protocol & Polygon PoS to Integrate

Polygon PoS is the Scaling Solution of Choice for Coinbase

Coinbase Protocol: A Philosophy of Growth

Coinbase Global, Inc. (the acclaimed crypto exchange) is integrating with Polygon’s (the revolutionary blockchain) PoS to “advance the crypto community.” Following the recent announcement by Coinbase of supporting the Polygon Network for its wallet and extension. Coinbase is now mulling an integration with Polygon’s L2 scaling solution to pacify settlement duration and prices.

Believing firmly in an open and thriving ecosystem. Coinbase aims to realize its endeavour of global economic freedom via collaborating with the community for growth. This philosophy drives the establishment and development of the Coinbase Protocol (CP) team. The CP team includes committed and experienced Coinbase engineers. They will be scaling blockchains (via L2 plus more ETH scaling solutions: Optimism, Arbitrum, and Starkware) and building community.

Coinbase states on its Medium blog the following to be the CP team’s primary areas of operation:

  1. Open-source project contributions
  2. Cutting-edge technologies’ integration with Coinbase
  3. Supporting developers via grant programs of Coinbase

What Challenges Coinbase Wants to Address?

Given that Polygon PoS is remarkably the fastest-growing Ethereum scaling solution. Polygon’s high-speed and low gas infrastructure features are Coinbase’s prime interests in bettering its UX. Coinbase, with Polygon integration, would also be able to accelerate settlement times. Users will experience swift and affordable withdrawals straight into supported scaling solutions. Ultimately this would make sure retail users don’t experience price-shocks when actively participating in this promising (lucrative) ecosystem.

What is Polygon PoS’ Support Mechanism?

The current network support mechanisms available to the Polygon PoS include various prominent exchanges and wallets. These include: Binance Exchange Wallet, Trust Wallet, Huobi Wallet, OKEX Wallet, etc. It must be noted that Coinbase Wallet and its extension will also be duly integrated with Polygon PoS under its debuting scaling solution.