DOP is set to unveil its mainnet and associated NFT encryption technology on Polygon, a significant milestone marking August 5th in the crypto calendar.

Decentralized initiative Data Ownership Protocol The Data Ownership Protocol has declared its plans to initiate its mainnet on the Layer 2 network of Polygon this August 5th, coupled with the launch of an NFT encryption feature. More detailed information and specific timelines regarding this initiative will follow soon. Polygon Polygon functions as a sidechain scaling solution, complementing the Ethereum blockchain. By redirecting transactions away from the Ethereum mainnet to its sidechain and a separate Layer 2 zkEVM network, Polygon manages to execute transactions more rapidly and at reduced costs compared to Ethereum.

Furthermore, the Data Ownership Protocol has reported significant advancements since launching its mainnet a few months ago. Milestones achieved include collaborating with Polygon to deploy the DOP Mainnet, integrating NFT encryption, allowing third-party gas fee payments through Relayers, and introducing a new economic model with lower fees.

Additionally, the initiative has roll out a Grants Program for evaluating applicants, initiated the first community-driven DAO voting for governance, and established a token value and buyback scheme.

Since the inception of our Mainnet a few months back, we've been diligently working to implement new objectives, forge new partnerships, and enhance our protocol with fresh features. DOP Project Director, Avidan Abitbol, is here to share the exciting advancements we've achieved.

The Data Ownership Protocol (DOP) aims to enhance data privacy and user control in Web3 settings. Employing cutting-edge cryptographic techniques, including ECDSA, DOP empowers users to manage and selectively disclose their on-chain activities, achieving a balance between privacy and transparency. This functionality not only allows users to control how much information they disclose about their assets and transactions but also ensures seamless compatibility with Ethereum-based decentralized applications (dApps), thus maintaining liquidity.

Earlier this month, we initiated our deployment on the Proof-of-Stake (PoS) network, marking a crucial step toward broadening the ecosystem and providing more efficient solutions for our users. This rollout also involves bridging the DOP token to Polygon for transaction fee payments, along with integrating a bridge between DOP and Polygon PoS into our user interface. zk-SNARK Please be aware that the information presented on this page should not be taken as legal, tax, investment, financial, or any other type of advice. It is essential to invest only what you can afford to lose and to seek independent financial advice if you have any uncertainties. For more details, we recommend reviewing the terms and conditions and the support resources provided by the issuer or advertiser. MetaversePost is dedicated to delivering precise and unbiased reporting, but market conditions may fluctuate without any prior notice.

DOP partnered with Polygon Alisa, a passionate journalist at Cryptocurrencylistings, concentrates on cryptocurrency, zero-knowledge proofs, investments, and the vast world of Web3. With a sharp focus on emerging trends and technologies, she offers extensive insights to keep readers informed and engaged in the continuously evolving digital finance landscape. Ethereum Hyperliquid is revamping its fee structure and staking tiers to enhance trading flexibility for its users.