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August 29, 2023 Coin Telegraph

Coin Telegraph

Shytoshi Kusama, the co-founder of the SHIB token, said the bridge was fixed with the help of Polygon Labs co-founder Sandeep Nailwal.

Shibarium, a new layer-2 blockchain for Shiba Inu (SHIB) has surpassed 100,000 wallets on its platform with 35,000 coming within 24 hours of Shibarium's relaunch on Aug. 28.

Shytoshi Kusama, the lead developer and co-founder of Shiba Inu, confirmed Shibarium was back up and running in an Aug. 28 blog post.

At the time, Kusama noted that Shibarium tallied 65,000 wallets across 350,000 transactions — however, those figures have rocketed upwards since, respectively increasing 55.8% and 20.2%, according to Shiariumscan.io.

Shibarium’s block explorer shows that 101,277 wallets have now facilitated 420,897 transactions across 344,614 blocks, with an average block time of 5 seconds.

*The number of wallet addresses increased from 65,000 to over 100,000 within 24 hours of Shibarium re-opening. Source: Shiariumscan.io*

In a statement, Kusama said the relaunch proved that funds are, and always were safe.

The pseudonymous figure also thanked Polygon Labs co-founder Sandeep Nailwal for providing Shibarium assistance with its reboot:

“Quickly after the incident began, I called Sandeep from Polygon directly and without a second thought, he helped provide additional resources to ensure a perfect outcome to the situation. And that, is why our pivot to fork Polygon was the correct one.”

The relaunch of Shibarium reflected well in SHIB’s price, increasing 3.6% to $0.00000825 over the last 24 hours, according to CoinGecko.

*SHIB price over the last 24 hours. Source: CoinGecko*

However, SHIB is still down 14.3% from its $0.00000963 price at the time of the outage.

At the time of the outage, Kusama blamed the “MASSIVE influx of transitions and users” when it went live, and later said it found a case where “thousands upon thousands of contract creation and normal transactions” in one block — which led it going into fail-safe mode.

It is estimated that about $2.5 million in funds were stuck on the bridge at the time.

Shibarium is like a new born baby who got overwhelmed by so many excited family members coming to greet meet them, this time around they're ready but please do handle it with love and care https://t.co/vbsMtILsBa
— Kaal (@kaaldhairya) August 28, 2023

In the days following, the Shibarium team claimed to have scaled the server infrastructure by 1500% to better manage congestion on-chain.

Shibarium is an Ethereum layer-2 network which utilizes SHIB for gas fees. The project focused on building gaming and metaverse applications on the platform.

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Vitalik Buterin and Polygon co-founder to help send $100M toward COVID-19 research

June 9, 2023 Coin Telegraph

Vitalik Buterin and Polygon co-founder to help send 0M toward COVID-19 research

Charity

Research into “Long COVID” and furthering medical infrastructure development will be the two main focus areas for Buterin.

Ethereum co-founder Vitalik Buterin is working with India-based crypto fund Crypto Relief and Polygon co founder Sandeep Nailwal to send $100 million towards COVID-19 research and medical infrastructure development in India.

Buterin and Nailwal will receive $90 million in USD Coin (USDC) from Crypto Relief, while Buterin will provide $10 million out of his own pocket to further the cause. The two will then help distribute the funds.

According to a January 2022 Twitter post from Nailwal, Crypto Relief will transfer the funds to Buterin in order for the India-based crypto fund to remain in full compliance with their local laws.

The first installment went towards tackling the COVID-19 pandemic in India through “emergency humanitarian relief.”

Crypto Relief describes itself as a community-run fund which has delivered financial relief to India during the COVID-19 pandemic.

Buterin explained in a June 8 Twitter post that COVID-19 and “future pandemics” will continue to be a “large risk in the 21st century.” According to Buterin, we need a “global solution” that combines “frontier scientific innovation” and “on-the-ground implementation.”

Last year @CryptoRelief_ led by @sandeepnailwal allocated $100m to Covid research projects I wanted to fund

Sandeep and I discussed and jointly concluded these and other projects are high-impact and need follow through grants. Hence we decided to put $100m more to these projects
— vitalik.eth (@VitalikButerin) June 8, 2023

Buterin said much of the COVID-19 research will focus on COVID-19 airborne transmission by building better medical equipment.

“This includes improving ventilation, HEPA filtering, and experimental tech like UVC irradiation,” he said.

The other main research area will focus on “Long COVID,” Buterin added.

“The most salient risks from Covid today are the very high number of people experiencing very-long-term symptoms (aka #LongCovid), and so Long Covid research continues to be a primary focus.”

We look forward to ongoing collaboration between our teams and our networks. Covid won't end on its own, and there continues to be ongoing risk that the pandemic/hyperendemic will return to a more acute state:https://t.co/vxyd5n27rt
— vitalik.eth (@VitalikButerin) June 8, 2023

Additionally, Buterin explained that the $100 million will be disbursed to a Gnosis Safe wallet using the following contract address.

The first $100 million donation was deployed by Buterin in late January 2022 or soon after, which initially came in the form of Shiba Inu (SHIB).

CryptoRelief sending $100m of the $SHIBA funds back to me. I plan to personally deploy these funds with the help of science advisors to complement CryptoRelief's existing excellent work with some higher-risk higher-reward covid science and relief projects worldwide. https://t.co/xvHxzwwdn8
— vitalik.eth (@VitalikButerin) January 28, 2022

It isn’t the first philanthropic effort of Buterin’s either.

In April 2022, Buterin sent $5 million worth of Ether (ETH) donations to “Aid for Ukraine” to assist its defence against Russia’s invasion in February 2022.

As of November 26, Crypto Relief has managed to raise $473 million in funds, according to the firm’s website.

Cointelegraph reached out to Crypto Relief to get a more up-to-date figure but did not receive an immediate response.

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Polygon powers India police complaint portal, battling corruption

October 13, 2022 Coin Telegraph

Blockchain

The First Information Report (FIR) launched on Polygon allows the citizens of Firozabad to register complaints against the police without worry of it being dismissed or manipulated.

The 2.8 million citizens of India’s Firozabad district may now be able to sleep a little tighter, after the launch of a new police complaint portal that uses blockchain technology to prevent manipulation.

On Oct. 12, Polygon co-founder Sandeep Nailwal announced in a series of tweets that the Polygon blockchain protocol is now being used by Firozabad police in Uttar Pradesh to fight against local police corruption and crime.

Called the First Information Report (FIR), the portal allows victims of crimes to register complaints against local police officers without the complaints either being dismissed or manipulated by potentially corrupt officers.

Nailwal shared that the project was very close to his heart because he grew up hearing stories of victims not getting justice due to local police corruption, many of who were victims of rape.

Police Complaints(FIR) on blockchain powered by @0xPolygon

This is very close to my heart. We grow up hearing about so many of such cases wherein due to some corruption in a local police department, victims(mostly of rapes) are not even able to register complaint or…1/2 https://t.co/k9gRMD6r08
— Sandeep | Polygon 3️⃣ (@sandeepnailwal) October 12, 2022

The video shared by Nailwal was posted by the Firozabad police, featuring a video snippet from the Senior Superintendent of Police for Firozabad, Ashish Tiwari.

Nailwal said the FIR going on the blockchain ensures that the reports can not be manipulated or denied by lower-level officers, and “could be a game-changer in ensuring right to justice.”

In the announcement, Nailwal also thanked the police commissioner for going beyond the call of duty to implement and innovate with technology to ensure equitable justice.

The announcement from the Firozabad police has also been picked up by others in the crypto community, with many seeing it as great news for Polygon, blockchain technology and the citizens of Firozabad.

Twitter user @srinigoes, a veteran of the Indian navy, commented to their 15,200 followers it was “an amazing initiative” to get complaints registered on blockchain, which would ensure transparency.

“The biggest problem in the interiors of India was whoever registered the FIR (First Information Report) first, had first mover advantage,” he said.

1/2
This is an amazing initiative. To get the complaints registered on blockchain. At least the blockchain will ensure transparency. The biggest problem in the interiors of India was whoever registered the FIR (First Information Report) first, had first mover advantage. https://t.co/vMbEWRG4Rr
— Srini ~ Akash the Ape (@srinigoes) October 12, 2022

Kashif Raza, founder of crypto education start up Bitinning noted on Twitter that the first complaint portal on Polygon has now been launching meaning:

“1) Complaints are now immutable. 2) Verifiable. 3) Easy to file.”

On Oct 6, Cointelegraph reported that Polygon announced a partnership with the Ocean Conservation Exploration and Education Foundation (OCEEF) to promote ocean literacy through new creative, entertaining, and engaging ways to give people exposure to deep underwater missions.

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Coin Telegraph

Polygon's NFT market continues to attract users, though the demographic is more aligned to gaming companies and developers than collectibles as on the Ethereum network.

The number of nonfungible tokens (NFT’s) sold on the layer-two protocol Polygon reached an all-time high last month at just short of 2 million.

According to Dune Analytics, this marks a near 60% rise in comparison to November and the third consecutive monthly increase for the network.

An Ethereum-based scaling solution seeking to construct, distribute and manage securities on blockchain technology, Polygon’s ecosystem has grown exponentially over the past twelve months, registering in excess of 3,000 decentralized applications on its network, in addition to a total value locked figure of $3.86 billion.

Alongside this, the number of unique daily active proof-of-stake chain addresses on the network is also expecting a new all-time high, aiming to surpass the record of 566,516 printed on Oct. 2, 2021, with the most recent data from Jan. 5, 2022, calculating 554,163.

In an interview with Cointelegraph last month, co-founder Sandeep Nailwal revealed that Polygon has found a niche in attracting a high proportion of gaming companies and platforms to build NFT’s on their network, as opposed to the collectibles and art often witnessed on Ethereum.

Polygon’s native token, MATIC, reached a peak price of $2.92 on Dec. 27, 2021, and has subsequently fallen to $2.11 at the time of writing in line with a wider market decline.

Sandeep Nailwal

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