Ethereum News- Polygon lets massive deployment of DAOs, enriches voter participation.
- With successive government regulatory policies, Polygon admits DAO.
Decentralized Autonomous Organization (DAO), uses blockchain technology for all crypto transactions thereby allowing users to vote by offering special tokens.
DAOs allow Polygon, to build a community for businesses compared to Ethereum (ETH). Considerably, there are 2X more of DAOs accumulated on Polygon than ETH. The spike rate is substantial growth comparing Ethereum.
One of the co-founders of Polygon named Sandeep Nailwal said:
‘We are very excited that the leading DAO provider and one of the most important projects in our industry Aragon has launched their highly anticipated new protocol and app on Polygon, making on-chain governance accessible to everyone in the world’
Polygon being the layer 2 (L2) scaling solution next to the Ethereum blockchain, gives space for DAOs to get deployed on it. Thereby, Polygon Ecosystem turns to be a giant when the Decentralized Autonomous Organizations with no governance are deployed on them. Because, it is possible through Aragon, a public framework based on the Ethereum blockchain.
Meanwhile, some claim that Decentralized Autonomous Organizations require various protocols and platforms for their demand and use whereas Polygon satisfies them with its interoperability. Certainly, building an Ethereum-based blockchain at a minimal cost enabling faster transactions than Ethereum is huge.
With this, launching on Polygon might support government regulations and also lower the voting cost which would drastically improve voter participation within the Decentralized Autonomous Organizations.
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Source: https://thenewscrypto.com/active-daos-on-polygon-spikes-2x-than-ethereum/