Polygon Labs Debuts Polygon 2.0 With a New Set of Upgrades
- Polygon Labs debuted Polygon 2.0 with new upgrades to allow users to “create, exchange, and program value.”
- The upgrades will “radically reimagine” the blockchain, “from protocol architecture to tokenomics to governance.”
- There are plans to evolve the MATIC token and introduce new utilities, which will be discussed in the near future.
- The goal is to achieve “unlimited scalability and unified liquidity via ZK technology.”
The firm responsible for the development of Polygon (MATIC), an Ethereum scaling solution, Polygon Labs, has announced the debut of Polygon 2.0 with a new set of upgrades integrated into it that will allow the users of the blockchain “to create, exchange, and program value.” The goal is to build the “Value Layer” of the internet.
As per the official announcement, Polygon 2.0 will introduce new changes in the blockchain that will establish a set of upgrades to “radically reimagine” almost every aspect of the Ethereum scaling solution, “from protocol architecture to tokenomics to governance.” The new version has been described as a roadmap for how the blockchain will achieve “unlimited scalability and unified liquidity via ZK tech.”
In the coming days, the development team will discuss the future of the blockchain along with the utility of the native token of the blockchain, MATIC. It has been revealed that there are plans to evolve the MATIC token and introduce new utilities, promoting the “transition to a greater community governance of the protocol and treasury.”
It is important to mention here that the United States Securities and Exchange Commission (SEC) filed a lawsuit against Coinbase, the largest crypto exchange in the US, and in the lawsuit, it recognized MATIC as a security. Other Ethereum killers like Solana (SOL) and Cardano (ADA) were termed securities as well.
“The network can support a practically unlimited number of chains, and cross-chain interactions can happen safely and instantly, without additional security or trust assumptions. Unlimited scalability and unified liquidity,” read the announcement.
It has been confirmed that Polygon 2.0 will be coming out as a network of interconnected chains powered by ZK technology, a technique that requires a party called the prover to validate a statement to the other party, called the verifier, without revealing any details of the entire procedure.
The CEO of Polygon Labs, Ryan Wyatt, said that at its core, the new version of the blockchain will establish long-term decentralized governance, unify the protocols, and provide seamless usage across zkEVM, PoS, and Supernets, making users feel that they are using a single blockchain.
A series of announcements regarding the same will be made in the coming months, stated Wyatt while asking his followers to stay tuned.
A crypto journalist with over 3 years of experience in DeFi, NFT, metaverse, etc. Parth has worked with major media outlets in the crypto and finance world and has gained experience and expertise in crypto culture after surviving bear and bull markets over the years.
