Polygon launches database to show crypto value

Share post:

Polygon, an Ethereum Layer 2 scaling solution, has developed a database known as The Value Prop to show the value of crypto, and document how individuals are using blockchain-related services.

The Value Prop effort was sparked by the issue of “what is crypto’s value proposition,” according to Rebecca Rettig, chief policy officer at Polygon. She told Axios that the database is also intended to counter criticism from Washington, which has said that crypto’s innovation has been focused on generating “artificial scarcity.”

The database covers programs in well-known areas such as remittances and investments, as well as more esoteric ones such as behavioral nudging. It is crowdsourced, and Polygon Labs does not support any of the 150+ projects featured.

UNICEF DAO, which is in the testing phase of making the funding process for digital public goods more efficient, QuestBook, which promotes learning web3 development by rewarding completed quests with NFTs and cryptocurrency, and RecycleFarm, an XR metaverse that promotes recycling, are among the projects in the database.

According to Rettig, the database acts as a dynamic and expanding resource, similar to Wikipedia. While the site is useful for exploration and discovery, allowing users to organize projects by use-case, network, and industry vertical, it still lacks detailed information on individual entries.

The sources for this piece include an article in Axios.


Related articles

Cyber Security Today, May 20, 2024 -Ransomware gang claims it hit a Canadian internet provider

A ransomware gang claims it hit a Canadian internet provider. Welcome to Cyber Security Today. It's Monday May 20th,...

Resignations at OpenAI. Hashtag Trending for Friday, May 17, 2024

The question changes from “where’s Ilya” to what took so long?  Did Musk’s Neuralink team know there might...

Google does the unthinkable – reportedly erasing a 125 billion dollar pension fund

It's reported that Google inadvertently erased the Google Cloud account of UniSuper, an Australian pension fund valued at...

MIT students exploit blockchain vulnerability to steal 25 million dollars

Two MIT students have been implicated in a highly sophisticated cryptocurrency heist, where they reportedly exploited a vulnerability...

Become a member

New, Relevant Tech Stories. Our article selection is done by industry professionals. Our writers summarize them to give you the key takeaways