Facebook working with Polygon (Matic) To Expand Web 3.0

In early May 2022. Meta, Facebook made an announcement that they would be expanding into web 3.0 through the Polygon blockchain network.

Polygon is a "layer two" or "side -chain," or an Ethereum Layer 2 scalability solution, is Polygon. It accompanies Ethereum and enables cheap costs and quick transactions. The network uses the native coin MATIC for staking, payments, and other purposes.

The Green Manifesto, a new goal by Polygon to transform their entire ecology, was unveiled in April 2022. In Future, Polygon wants to transition to a more environmentally friendly age and become carbon negative overall.

They are taking a number of steps, such as developing a vertical climate offset inside their ecosystem. They will pay special attention to neighborhood projects and support efforts that employ technology to tackle climate change.

To make sure it works, they even established a $20 million fund. Furthermore, this is one of the primary reasons that Meta has chosen Polygon as its primary blockchain moving forward.

Meta is aware that Polygon is advancing Web3 as well. The business is making investments in cutting-edge zero-knowledge (ZK) technology. Many think ZK will be crucial in presenting Web3 to the world. This is significant because Meta's platforms see billions of daily consumers.

Finally, according to Meta, 2.87 billion individuals used Facebook, WhatsApp, Instagram, or Messenger everyday in the second quarter of 2022. Meta will now start integrating Web3 into these platforms utilizing Polygon.