Ethereum & Polygon Added To List Of Supported Blockchains By Phantom Wallet

Nov. 29, 2022
Ethereum & Polygon Added To List Of Supported Blockchains By Phantom Wallet

According to official announcements made on November 29th, Solana-centric cryptocurrency wallet Phantom is extending its support to two additional blockchains, Ethereum and Polygon.

Phantom is increasing consumer access to all three ecosystems by adding support for Polygon and Ethereum, extending it from Solana. Phantom’s CEO and co-founder, Brandon Millman, stated that the company’s goal is to unite communities from all over the web3 by providing a secure, user-friendly self-custody solution appropriate for wide-scale adoption.

According to Millman, the new Ethereum and Polygon integrations are now operational in beta mode on Phantom’s iOS and Android applications as well as the browser. A general release is planned for the first quarter of 2023. As a result, users may exchange, receive, and sell tokens in its wallet and accumulate NFTs on all three blockchains.

They’re moving up to multi-chain wallets from mono-chain ones, as per Millman. Phantom’s introduction to the multi-chain world was always their objective. For us, it is more of a return home since it was always their belief that the world was transitioning to a more multi-chained one.

Additionally, he said, the three co-founders of Phantom, Chris Kalani, Francesco Agosti, and Millman, formerly worked at 0x, a financial protocol that centered on Ethereum. As a result, they always wanted to include the blockchain in Phantom’s wallet.

However, the company said in the release statement:

Having to rely on different wallets for different blockchains is leading to fragmented and tribal ecosystems. We are so excited to bring the Phantom experience that so many know and love to Ethereum and Polygon and create a single wallet that people can use for everything.

Addition Of Ethereum & Polygon: The Multi-chain Wallet

The company said that they want to create a fun, secure, and user-friendly multi-chain wallet that will open the door to the next stage of development for the cryptocurrency ecosystem by working closely with Polygon and using their team’s experience with Ethereum.

The company asserts in the announcement post that it sees a significant opportunity to work with the Polygon community to promote the adoption of NFT, gaming, and dapps. 

Wallets must preserve and upgrade the user experience as a crucial point of entry and access for any blockchain ecosystem. Phantom has committed to supporting the Polygon ecosystem as a significant partner.

They are also thrilled to be supporting Ethereum. The case for backing Ethereum is evident, given that it was the first blockchain for smart contracts, which opened the door for many of the innovations they see today. 

They are delighted to expand support for its diverse ecosystem of EVM-compatible blockchains in the future. It is still the leading chain for NFT volume and assets locked in DeFi protocols.

Ammar Raza

Associate editor
Skilled in crafting compelling content, with a deep enthusiasm for blockchain technology. I offer precise and easily comprehensible perspectives on cryptocurrencies, decentralized finance, and the ever-evolving landscape. Count on me as a reliable resource to remain informed about the latest advancements in the world of crypto.