On June 12, Polygon Labs revealed its plans to launch its highly anticipated new version, "Polygon 2.0." In its announcement, the Polygon Labs team stated that this new version will bring fundamental changes to almost all aspects of their platform.
The Polygon (MATIC) team explains that Polygon 2.0 will be a strong foundation for the future of their Proof-of-Stake chain. This upgrade will bring new features that provide additional value to the MATIC token, as well as opening the door to broader community governance of the Polygon protocol and assets.
This improvement and improvement plan for Polygon aims to be a strong foundation in building an innovative Value Layer. Through a series of proposed changes, Polygon 2.0 will usher in significant transformations in protocol architecture, tokenomics, and governance.
What's New in Polygon 2.0?
In contrast to Bitcoin and Cardano's approach which seeks to solve transaction problems outside the blockchain (off-chain), Polygon 2.0 has been specifically designed to overcome the challenges of networks that often have difficulty handling large numbers of transactions or limit throughput. With a focus on scalability, Polygon 2.0 aims to increase network capacity and facilitate an increase in the volume of transactions that can be carried out every second.
Recent developments on the Polygon network point to a shift to broader community governance, involving participation from the protocol and treasury. The team involved plans to reveal a detailed roadmap on how Polygon 2.0 will strengthen its position as a Value Layer in the internet world, while providing integrated liquidity through the use of ZK technology and unlimited scalability.
“What is Polygon 2.0? In essence: – Unifying protocols: seamless deployment across zkEVM, PoS, & Supernets; it will feel like you are using one chain – Token evolution – Building long-term decentralized governance. "This will be a series of announcements this summer," Polygon Labs President Ryan Wyatt said in a tweet.
Simply put, Polygon 2.0 is a network consisting of several chains that interact with each other. This network is a layer-2 supported by ZK technology, creating the impression of a single chain for users. This allows the network to handle multiple chains simultaneously, facilitating seamless interactions between chains with great speed and ease.
Zero knowledge (ZK) technology has been implemented successfully by several popular blockchains, such as Zcash (ZEC), Tezos (XTZ), Polkadot (DOT), and Filecoin (FIL). By adopting ZK, this blockchain is able to provide a higher level of security and privacy to its users, protecting sensitive information and ensuring secure and encrypted transactions.
Phased Rollout
The team has promised to reveal more details about Polygon 2.0 in the coming weeks, including their vision for the future of the Polygon PoS chain as well as the developments and benefits that the MATIC token will bring.
The team has made it clear that the development of Polygon 2.0 is the result of a strategic collaboration involving Polygon Labs, developers, researchers, and other stakeholders in the web3 ecosystem over the past year.
