Polygon is an Ethereum-based platform that offers solutions to clients in the crypto scaling and infrastructure industry. In layman’s terms, ‘scaling’ refers to speeding up the validation process of blockchain transactions. Due to the volume of Ethereum users, there is a constant need to process transactions at a quicker rate.
This is where companies like DraftKings come in. If an entity, either an individual or an enterprise, holds a high volume of cryptocurrency, they can ‘stake’ some of their crypto to help speed up certain transactions on the blockchain. In return for this, they receive a reward – often additional crypto, but it can vary.
In this case, Zero Hash acts as a B2B intermediary to reconcile DraftKings’ technology with Polygon’s platform. Zero Hash’s turnkey solution allows any platform to digitally integrate assets into its own customer experience.
Paul Liberman, Co-Founder and President, Global Product and Technology, DraftKings, commented: “Participating in validation supports DraftKings’ broader strategy of building out a robust, sustainable, trustworthy and decentralised infrastructure to help futureproof aspects of our business in the Web3 era.
“We cannot accomplish this vision alone, so teaming up with industry luminaries like the team at Zero Hash, in addition to Polygon, is essential to our blockchain and related efforts moving forward.”
Through networks known as ‘proof-of stake’ (PoS), Zero Hash essentially allows companies to earn crypto rewards for its support of a decentralised blockchain.
Edward Woodford, CEO, Zero Hash, said: “Zero Hash’s mission is to empower every fintech and consumer business through access to digital assets. We are excited to support innovative companies like DraftKings as it looks to stake digital assets as part of its portfolio-management strategy. Zero Hash is proud to be the turnkey technology provider for those looking to enter the PoS space.”
