- Fox has unveiled plans to join the Ethereum Layer 2 ecosystem.
- The move has been tapped to significantly bolster its Polygon-based content verification platform.
- Verify’s footprint is extending beyond Fox.
The crypto industry’s focus is often on the speculative fervor surrounding asset prices, so the disruptive potential of blockchain technology in industries beyond finance can often be overlooked. However, established corporations are gradually looking beyond this speculative veil to leverage blockchain technology to streamline operations and solve emerging problems. Among these corporations is the leading media company, Fox Corporation.
In January 2024, Fox unveiled Verify, a content verification platform leveraging the Polygon (MATIC) network to allow media houses to combat deep fakes and monetize the use of their content by AI firms to train large language models (LLMs). Months later, the firm has unveiled plans to transition this protocol to its own Layer 2 blockchain, again leveraging Polygon technology in a move that promises to make the protocol significantly more scalable as it expands to accommodate more media publishers.
Fox Eyes Greater Verify Efficiency
Fox is set to join the Ethereum Layer 2 ecosystem. In a statement on Tuesday, June 18, Fox disclosed that it was set to transition its Verify protocol on Polygon PoS to a ZK-rollup powered by Polygon’s Chain Development Kit (CDK) with the help of rollup as a service (RaaS) provider Gelato to make the protocol more scalable.
"This advanced technology empowers developers to create projects that transparently prove authenticity, enabling faster, easier, and more affordable interactions," the firm asserted.
As detailed by Gelato, the Verify Layer 2 will be a validium chain boasting “near instant transaction finality & ultra-low fees,” with a predicted block time of seven seconds, it is expected to handle up to 2,500 transactions per second at $0.02 gas per transaction.
Meanwhile, Fox maintained that Verify’s code will remain open source, inviting users and developers to fork and contribute to the code.
The recent announcement follows the firm’s announcement of its first external publishing partner on Verify.
TIME to Leverage Fox Verify
Fox has revealed that the long-standing media brand TIME will leverage Verify in its content licensing and verification strategy.
Commenting on the development, TIME Chief Operating Officer Mark Howard asserted that the decision to leverage Fox’s Verify highlighted the media brand’s commitment to offering trusted journalism to its global audience.
"At TIME, we are committed to advancing our mission of providing trusted journalism for our global audience of 120 million people by embracing new innovations and pioneering emerging technologies—from blockchain to AI. TIME is proud to join FOX's Verify as an authenticated source of fact-based journalism at a time when access to trusted information is more important than ever," he enthused, stressing the importance of trusted information in this fast-paced digital age.
According to Fox, over 300,000 pieces of content from FOX Sports, FOX News, FOX Business, and FOX Television Stations have already been signed to Verify’s content graph.
On the Flipside
- Fox did not unveil a timeline for Verify’s Layer 2 transition.
- The New York Times has a product similar to Verify called the News Provenance Project.
Why This Matters
The growing use of deep fakes and fake news by bad actors to spread misinformation and discord in society continues to be a pressing concern. Fox Verify creates a path for people to vet the information they consume to ensure it comes from trusted sources. With recent plans to transition the project to a Layer 2 chain, it promises to now be able to offer the service at scale.
Read this for more on Fox Verify:
Here’s How Fox Is Using Polygon (MATIC) to Combat Deepfakes
Read this for more on Polygon CDK adoption:
Ronin Taps CDK To Scale Web3 Gaming: What It Means for Polygon
Sourced from dailycoin.com.
Written by on 2024-06-19 19:00:00.
