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Polygon CEO Comes In Rescue For Terra Blockchain! Will Terra Projects Shift To Polygon?

Written by: Qadir AK

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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May 16, 2022

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Over the past week, the Terra blockchain system had swayed away from the entire crypto market. Industry activists are emerging to provide extensive assistance to the community. 

On Sunday, May 15, Ryan Wyatt, CEO of Polygon Studios, put forth his thought via Twitter that he will help various Terra projects migrate toward the Polygon blockchain network. He claimed that everyone is working closely with a wide variety of Terra projects to help them shift to the Polygon network. And he says that this migration will happen by offering capital and resources.

Sandeep Nainwal, the Polygon co-founder explained what could be the best options for Terra projects and suggested that the Terra community projects that need a shared chain can select the PoS Polygon chain. The Polygon Proof-of-Stake will soon see ZK Rollups being introduced.

However, Sandeep recommended going for SUPERNET for the one who is looking out for an app-specific chain. In answer to the benefits of doing so, Sandeep claimed that in this there is no restriction for validators and has a future possibility for making your chain a rollup.

Terra Blockchain’s Rescue Plan

After the crypto space witnessed such a harsh bearish play, the founder of Terra Do Kwon finally broke his silence and came up with a recovery plan. One of the ideas being considered is the hard fork of the Terra blockchain.

On the other hand, when the current supply of LUNA is considered, which is oversupplied on the market, Binance CEO Changpeng Zhao said this idea would not work because according to CZ, reducing the supply burn is the option, not the hard fork. He further confirmed that he doesn’t hold any LUNA or UST

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Qadir AK

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.

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