The developers of Boson Protocol are pleased to announce the introduction of Boson Protocol v2, which is described as “the breakthrough technology enabling digital to physical redemption without intermediaries is launching on Polygon.”
Polygon is an Ethereum scaling platform that “enables developers to build scalable user-friendly decentralized apps (dapps) with low transaction fees and without sacrificing security.”
Boson Protocol solves the problem of fair exchange within e-commerce, “without the need for trusted intermediaries or counterparties.” Instead, Buyer and Seller make commitments “to trade within smart contracts encoded with game theory and tokenized as redeemable NFTs.”
Buyers have the assurance that “either they can redeem the NFT for the physical item or get their money back.”
Brian Trunzo, Metaverse Lead, Polygon, said:
“Decentralized commerce is primed to be a strong adoption driver and powerful enabler of new applications. As one of the leaders in decentralized commerce, we’re thrilled that v2 of Boson Protocol is launching on Polygon.”
The key part of the protocol is “the core exchange mechanism subsystem that handles the exchange of the on-chain value for the off-chain value between two parties.” The protocol provides other features “through a set of functional and optional protocol modules.”
Justin Banon, Co-Founder of Boson Protocol says:
“We are launching Boson Protocol v2 on Polygon because it gives us significantly lower transaction costs and higher throughput. It is highly secure, and since it is EVM-compatible, we have a wide potential for future expansion. Also, it is important for Boson Protocol to be where other major projects live so as to contribute to a thriving ecosystem. Polygon is integrated with all the key projects, metaverse, and protocols, making it an optimal, interoperable choice for us.”
v2 of Boson Protocol “launches in Q4 2022 and has been lauded as a foundational piece of Web3 infrastructure.”
Boson was recently “awarded World Economic Forum Technology Pioneer status for the potential of this technology to democratize and reshape global commerce.” The protocol will “remove the need for trusted sellers and allow for digital to physical redemption between buyer and seller, reducing cost, friction, and increasing equitability.”