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Ally Announces Adoption of Polygon to Lower Gas Fees

·2-min read

PASADENA, Calif., July 01, 2022--(BUSINESS WIRE)--Ally, Inc. ("Ally," or, "Company"), a software-as-a-service leader in addressing business transaction pain-points, is pleased to announce the launch of its cross-blockchain bridge, Verge (https://vergebridge.com). Verge, powered by Ally, bridges the Direct Token (DRCT) to Polygon to significantly lower Ethereum blockchain network gas fees for users.

Blockchain acts as a distributed database in which information is stored across digital systems. This information utilizes blocks strung together to store data in a chronological, irreversible manner. Best known for its crucial role in cryptocurrency, blockchain is essentially a ledger for digital transactions.

One blockchain development platform with high popularity is the Ethereum network. Due to the high level of adoption, Ally taps into the power of the Ethereum network for its blockchain transactions. Historically, however, fees on the Ethereum blockchain network have been high. Referred to as gas, these fees are required to conduct a transaction on the Ethereum blockchain network. As such, users are asking for an affordable chain option with lower gas fees.

This is where the adoption of Polygon’s side-chain solution provides an integral benefit. Polygon provides scalable solutions on Ethereum, supporting a multi-chain Ethereum ecosystem. This solution allows for integration with Chainlink to support cross-blockchain data.

One of the first blockchains Ally is adding to their universal cross-blockchain solutions, Verge will contribute to an agnostic blockchain future. Blockchain is technology, and as the technology evolves, platforms and businesses need to be where their users are. This integration will help ensure businesses can meet the transactional needs of the future.

To learn more about Ally’s universal cross-blockchain solutions, visit https://allynow.com/. For more information about Polygon’s multi-chain system, visit https://polygon.technology.

About Ally

Ally is a software-as-a-service platform dedicated to solving common problems surrounding today’s business transactions. Today, Ally boasts a delivery network of more than 110,000 drivers and has helped 1,000+ brands improve revenue and maximize profits. In 2020, Ally’s platform successfully executed and delivered more than 24 million orders across the country. Learn more about Ally’s full suite of business tools at https://www.allynow.com.

About Polygon

Polygon is a protocol and a framework for building and connecting Ethereum-compatible blockchain networks. Aggregating scalable solutions on Ethereum supporting a multi-chain Ethereum ecosystem. Learn more about Polygon’s multi-chain system at https://polygon.technology.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220701005283/en/

Contacts

Investor Relations and Media Contact:
Jeffrey Wahl
hello@allynow.com

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