Polygon Labs Unveils Polygon 2.0: Transforming the Internet’s Value Layer

Polygon, the popular Ethereum scaling solution, has unveiled its ambitious vision to become the “Value Layer of the Internet” with the introduction of Polygon 2.0. This upgrade aims to transform the current crypto ecosystem, democratizing access to the global economy while offering unlimited scalability and unified liquidity.

The concept of the Value Layer is inspired by Ethereum’s ability to create, exchange, and program value without intermediaries. However, Polygon recognizes that the current state of the crypto ecosystem does not resemble the rest of the Internet, which is infinitely scalable and unified. Polygon 2.0 seeks to bridge this gap.

The key to achieving this lies in the adoption of zero-knowledge (ZK) technology and a network of ZK-powered Layer 2 chains. These chains will be unified through a novel cross-chain coordination protocol, providing users with an experience that feels like operating on a single chain. By utilizing this approach, the network can support an unlimited number of chains while enabling safe and instant cross-chain interactions.

With Polygon 2.0, Ethereum is poised to fulfill its original intention by expanding its capabilities. The upgrade represents a significant milestone for Polygon, as it presents a blueprint that reimagines the protocol architecture, tokenomics, and governance of the platform.

Over the next few weeks, Polygon will release detailed information about each component of Polygon 2.0. This comprehensive rollout plan will cover various topics, including the future of the Polygon Proof-of-Stake (PoS) chain, the evolution of the Polygon token, and the transition towards greater community governance.

Polygon Labs, in collaboration with developers, researchers, applications, node operators, validators, and the wider Polygon and Ethereum communities, has been actively working on Polygon 2.0 for over a year. The community has been engaged in discussions, some of which can be found on the Polygon community forum.

The formal governance process in the Polygon ecosystem has empowered the community, making the role of builders, creators, and all participants more meaningful than ever. Polygon emphasizes that the community, as the controllers of the Polygon protocol, holds the right to accept and implement Polygon 2.0.

To ensure widespread understanding and participation, Polygon plans to provide information through blog posts, community meetings, AMAs with founders and engineers, and more. This inclusive approach encourages individuals to familiarize themselves with Polygon 2.0 and actively contribute to the conversation.

The unveiling of Polygon 2.0 marks a significant turning point for the Polygon ecosystem and the broader crypto industry. With its commitment to building the Value Layer of the Internet, Polygon aims to establish a decentralized finance infrastructure, promote digital ownership, and create innovative mechanisms for coordination, among many other possibilities.

Read more:

Join us on Telegram

Follow us on Twitter

Follow us on Facebook

Follow us on Reddit

You might also like