The blockchain developer community platform, Gitcoin, has made waves in the crypto world with its recent announcement of the mainnet launch of the Public Goods Network (PGN). PGN is a highly composable EVM rollup built on the Bedrock version of OP Stack, a collaborative effort involving Optimism and third-party infrastructure provider Conduit. This groundbreaking network presents an alternative low-cost Layer 2 (L2) solution for public goods and public goods projects.
🟢 PGN is officially live on mainnet and open for building!
PGN is a low-cost L2 OP Chain, generating sustainable funding for public goods, supported by public goods maxis like @PublicNouns @clr_fund @giveth @hypercerts @octantapp @endaomentdotorg @eco @protocollabs & @gitcoin.
— Public Goods Network | 🟢 (@pgn_eth) July 25, 2023
A New Era for Supporting Public Goods
With the official launch of PGN, a promising era begins for funding public goods and public goods projects. PGN operates as a low-cost L2 OP Chain, powered by Optimistic Rollups, enabling seamless execution of Ethereum transactions on the secondary layer. The EVM-compatible PGN network incorporates functionalities akin to the OP mainnet, providing developers with a familiar environment to build and innovate.
Sustainable Funding for Public Goods
One of the most remarkable features of the Public Goods Network is its commitment to generating sustainable funding for public goods initiatives. A substantial portion of transaction fees on PGN is earmarked to support various public goods projects. By running decentralized applications (dApps) on the PGN network, developers automatically contribute to funding these essential public goods, fostering an ecosystem of collective support and collaboration.
The concept of ‘public goods’ is at the core of PGN’s mission. Official documentation defines public goods as items that are both non-excludable and non-rivalrous, meaning access cannot be restricted, and one person’s use does not diminish others’ enjoyment.
Empowering Public Goods Projects
The spectrum of public goods is vast, ranging from public libraries and open-source software to open data and AI models. PGN’s novel approach empowers these initiatives by providing a sustainable funding mechanism that can positively impact diverse communities and address societal needs. By leveraging blockchain technology, PGN introduces greater transparency and efficiency into the funding process, ensuring resources reach the projects where they are needed most.
A Collaborative Network
PGN’s mainnet launch has garnered significant attention from public goods maxis and influential players in the blockchain space. Notable names such as PublicNouns, clr_fund, giveth, hypercerts, octantapp, endaomentdotorg, eco, protocollabs, and, of course, Gitcoin have expressed their support for the network. The collaborative effort among these entities indicates a shared commitment to promoting public goods and nurturing an environment of innovation and social impact.
Gitcoin’s Role in the Equation
As a prominent blockchain developer community, Gitcoin plays a pivotal role in shaping the future of public goods funding. The announcement further reveals that a portion of Gitcoin’s upcoming grant round, GG18, will be conducted on the PGN network. This integration underscores Gitcoin’s dedication to advancing blockchain solutions that drive positive change and empower communities worldwide.
The Public Goods Network’s mainnet launch represents a milestone achievement in the crypto landscape, demonstrating the potential of blockchain technology to fuel positive social and economic transformation. As PGN gains momentum, it promises to be a catalyst for innovation, collaboration, and collective impact, setting a new standard for supporting public goods in the decentralized era. With the future of public goods funding in its hands, PGN paves the way for a brighter, more equitable tomorrow.