LABS Group Join Forces with Polygon to Improve Transaction Quality for Users on Ethereum
As you’ve heard, two good heads are always better than one. LABS Group has taken a step towards success by deploying a smart contract on Polygon Network.
LABS Group is a real estate digitization ecosystem that comprises advisory crowdfunding and security exchange. Even though digitized investments have positive yields and capital appreciation, the obstacle has always been that the entry to these investments is very high. LABS Group aims to innovate ideas by digitizing and making real estate liquid and easy to be involved with.
LABS, having been built on the Ethereum platform, raised concerns in regard to the high gas fees in the network with its increasingly heavy traffic. This complication creates accessibility barriers and discourages transactions for its users.
Polygon’s integration with the LABS group provides a solution that will assure many users by allowing them to conduct transactions with fewer gas fees. With the implementation of this solution, LABS users can also process transactions faster now. The solution is accomplished by the Ethereum layer two scaling solution on the Polygon Network. Transactions that use the scaling solution only require verification of Polygon validators instead of the Ethereum blockchain, resulting in a more cost-effective and direct transaction. With lower transaction fees and higher transaction speed, this new collaboration between the two can surely impact not only the real estate investment industry but the blockchain industry as a whole as well.
Additionally, following the partnership, Polygon also hits two birds with one stone as they can gain more exposure and climb to the top of the cryptocurrency market by market capitalization — with developers and other users using its high-level services in the near future.
This partnership will surely bring both companies closer to mainstream adoption and achieve greater success in the industry together.
LABS Group is an end-to-end real estate investment platform built on Ethereum. The idea of LABS is very simple, with just $100 a user can invest in any luxury resort of their choice. LABS is looking at a property class of activities where it is fully liquid.
LABS has sped up this digitization process and opened up the pool to investors to a wider retail audience. LABS offers all real estate developers a chance to enter this new market where it is possible for people who have never bought real estate before will be buying it. We are making the real estate industry available to everyone including everyday people.
Polygon is the first well-structured, easy to use for Ethereum scaling. It is a modular framework of the previously Matic platform that effectively transforms Ethereum into a full-fledged multi-chain system(aka internet of blockchain).
Polygon supports the building of multiple applications because of its core component, Polygon SDK.