Outside Source
IoTeX, a decentralized physical infrastructure network, and Polygon Labs have announced that IoTeX 2.0 will integrate with AggLayer to power cross-chain communication and liquidity across the DePIN ecosystem.
Raullen Chai, the chief executive officer and co-founder of IoTeX (IOTX), disclosed the partnership on Sept. 17 at the R3al World event in Singapore.
As the DePIN market experiences significant growth, developers have focused on innovations that can enhance communication and cross-chain liquidity.
Polygon projects tap into IoTeX infrastructure
AggLayer is a decentralized service designed to connect blockchains, enabling projects on different chains to programmatically distribute rewards. The protocol’s infrastructure promotes efficiency and further scales the $19.7 billion DePIN market, according to a press release shared by IoTeX and Polygon Labs.
Notably, multiple projects on Polygon (POL) have integrated IoTeX technology, including CoinFund and Pantera Capital-backed DePIN project GEODNET, and DIMO, a user-owned network that turns users’ car data into assets.
GEODNET joined IoTeX as it launched the DePIN Liquidity Hub, while DIMO leveraged IoTeX’s layer-2 protocol W3bstream for its zero-knowledge proofs concept on data privacy and off-chain computation.
IoTeX 2.0
IoTeX and Polygon Labs first collaborated in 2021, working together on a cross-chain bridge and non-fungible token initiative.
IoTeX released its IoTeX 2.0 whitepaper in July 2024, with the broader goal being a modular blockchain network that accelerates DePIN adoption. IoTeX 2.0 launch partners include Near Protocol (NEAR), Filecoin (FIL) and RISC Zero. Others are OKX, Axelar and The Graph (GRT).
This article first appeared at crypto.news
