Life DeFi Wallet, the world’s first multi-blockchain non-custodial digital wallet service that allows users to transact directly through usernames, has integrated the Polygon blockchain to bring digital assets leveraging the popular layer 2 scaling solution’s increased speed, lower fees and strong security, as well as the expansive suite of dApps built on the Polygon blockchain and to Life DeFi Wallet’s rapidly expanding platform. The development was overseen by GDA International, which provides digital asset companies with access to growth capital and financial advisory services that help stakeholders navigate the digital asset landscape.
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As the first layer two solution for Ethereum, which emerged to provide faster transactions and lower costs for users, Polygon acts as a speedy sidechain running alongside the main Ethereum blockchain. Polygon uses the same proof of stake algorithm of the Ethereum blockchain, as well as the same Ethereum Virtual Machine (EVM), so that developers can quickly and easily migrate applications and digital assets between both protocols, but with fees that are a fraction of the cost to Ethereum and transactions that process at near instant speed.
Polygon has over 135 million unique addresses, over 34 thousand decentralized applications built on the protocol, has completed over 1.8 billion transactions and boasts a suite of solutions that provide custom scaling and privacy functionality with modular development frameworks available. The applications built on Polygon include everything from decentralized exchanges, bridges and lending and borrowing protocols, to metaverses, play to earn games, NFT platforms and more. Integrating the Polygon blockchain represents a big step forward in making all digital assets and DeFi functionality accessible to the Life ecosystem.
Life DeFi Wallet has streamlined digital asset transfers, making it possible for users to send and receive such assets using simple @usernames in place of complicated public keys. This will help to onboard new users into the blockchain and Web3 spaces and significantly reduces the adoption hurdles that currently face users in the digital assets space. As part of this initiative, the Life DeFi Wallet team will reserve the @polygon username within the Life ecosystem for the Polygon Foundation.
According to Life DeFi Wallet Founder Patrick Andras: “The Polygon blockchain is one of the most widely used protocols and powers many of the most used dApps in the world. Integrating Polygon opens up thousands of new dApps to become available from Life’s upcoming dApp browser and millions of users of digital assets on their protocol will now have access to a simple to use and highly secure non-custodial wallet they can send any token issued on polygon to others using an @username.”
Michael Gord, CEO of the GDA Group of Companies, said: “The objective of Life DeFi Wallet is to make using digital assets simple and accessible to everyone. Integrating Polygon is a big step forward towards being able to have the users of Life take advantage of all the decentralized applications built on the Polygon blockchain and to be able to store and send all digital assets issued on Polygon.”
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