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Coinbase to use Polygon’s Ethereum scaling solution to reduce prices, settlement times

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An exact date for the L2 integration has not yet been made public.

An engineering team at the U.S. cryptocurrency exchange Coinbase plans to integrate Polygon’s layer-two (L2) scaling solution for Ethereum with the exchange platform.

  • The move marks a first for Coinbase’s protocol team, which will attempt to reduce high prices and long settlement times, according to a press release on Tuesday.
  • Integrating with Coinbase will allow exchange users to withdraw directly onto a supported L2 solution.
  • An exact date for the L2 integration has not yet been made public.
  • The Coinbase  is an experienced group of engineers aiming to contribute to the scaling of blockchains and community building. The team focuses on integrating various technologies with Coinbase products.
  • The aim is to help “level the playing field” while ensuring retail users don’t get priced out of being able to participate in this budding ecosystem, according to the release.
  • “This will certainly help to improve the Coinbase user experience,” said Polygon’s co-founder Sandeep Nailwal.
  • Last month,  with rollup platform Hermez Network in a $250 million deal, marking the first complete merger of one blockchain network into another.” FxStreet

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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