Decentralized initiative Data Ownership Protocol (DOP) announced plans to launch its mainnet on the Layer 2 network Polygon on August 5th. Along with the launch its non-fungible token (NFT) encryption feature will also be introduced on the network. Further details and specific timelines for the event will be provided at a later date, according to the project.
Polygon is a sidechain scaling solution that operates alongside the Ethereum blockchain. By redirecting transactions from the Ethereum mainnet to a sidechain and to a separate Layer 2 zkEVM network, Polygon is able to process transactions more quickly and cost-effectively in comparison with the Ethereum.
In addition, Data Ownership Protocol unveiled that, since the launch of its mainnet several months ago, it has made notable progress in developing the project. Achievements include collaborating with Polygon for the deployment of the DOP Mainnet, introducing an NFT encryption feature, enabling third-party gas fee payments through Relayers, and implementing lower fees along with an updated economic model.
In addition, the project has initiated the Grants Program for applicant evaluations, launched the first DAO voting for community governance, and introduced a token value and buyback program.
Since we launched our Mainnet a couple of months ago, weâve been working around the clock, checking items off our new roadmap, sealing collaborations & adding new features to our protocol. DOP Project Director, Avidan Abitbol, is here to present the progress weâve been making⊠pic.twitter.com/iMzqPqPnk9
â Data Ownership Protocol (@dop_org) August 1, 2024
DOP Partners With Polygon To Launch On Its NetworkÂ
The Data Ownership Protocol (DOP) is designed to improve data privacy and control in Web3 environments. By utilizing advanced cryptographic technologies such as zk-SNARKs and ECDSA, DOP facilitates individuals to operate and selectively reveal their on-chain activities, striking a balance between transparency and privacy. This capability gives users control over the information they reveal about their asset holdings and transactions, simultaneously guaranteeing compatibility with Ethereum decentralized applications (dApps) and preserving liquidity.
DOP partnered with Polygon earlier this month intending to deploy on its Proof-of-Stake (PoS) network, signifying an important step in expanding its ecosystem and offering more efficient solutions to individuals. Along with the deployment, the DOP token will be bridged to Polygon for fee payments. Additionally, a bridge between Ethereum and Polygon PoS will be integrated into the DOP user interface.
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