A prediction market protocol was recently built under MATIC(Polygon Network) that is called SX Network. Just few days ago they have announced about the implementation of the Celer cBridge on the said network. Using SX Network, through cBridge, There users can now bridge tohen to SX Network.
Celer have just been enabled the flawless bridging of assets between EVM-compatible blockchains and ERC-20 tokens. USDC, WETH, DAI, USDT, WBTC and other more tokens can be bridged using the cBridge, beween Ethereum and SX Network with a lot faster, secure and low cost of transaction. MATIC and WMATIC between Polygon and SX Network can be bridge where its beneficials to its users.
Within its first stage of integration, mint and burn bridge are model will be incorporate accordingly. While the Celer liquidity pool model, including Polygon token bridging is to be rolled out in the near future release when the proposed Celer Network Governance process when its passed.
According to the two team that they envision regarding the first step of integration, that the SX Network, the very first Edge Network of the Polygon, is poising to scale the ecosystem to becoming a key to the prediction platform markets, such as Defi and NFT applications, where to delight seamless connection to SX Network and its rapid growing ecosystem for the blockchain community greatness, accoding to Md. Mo Dong, Celer’;s Co-Founder.
About the Polygon Network
Using with its modified PoW(Proof-of-Stake). it has a consensus mechanism that allows consensus to be accomplished from every block created. With the use of traditional PoW, a process is required with many blocks so consensus can be achieved. PoW or Proof-of-Stake is a method that requires participant to stake, can be also be termed as HODL, where they agree not to trade or sell their MATIC, for an exchange a right to validate the network transaction of Polygon. Users who stake will be rewarded with MATC for keeping a successful validation to the Polygon Network.
Polygon uses a modified proof-of-stake consensus mechanism that enables consensus to be achieved with every block. (Achieving consensus using traditional proof-of-stake requires processing many blocks to achieve consensus.) The proof-of-stake method requires network participants to stake—agree to not trade or sell—their MATIC, in exchange for the right to validate Polygon network transactions.4 Successful validators in the Polygon network are rewarded with MATIC.
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