Polygon 2.0 To Upgrade Itself For Tapping Into the “Value Layer” Of the Internet

June 13, 2023

Polygon 2.0 To Upgrade Itself For Tapping Into the “Value Layer” Of the Internet

Recently, Polygon Labs has announced “Polygon 2.0” which is a set of upgrades that aims to establish the “ value layer” of the internet. The company also shared that it will allow users to create, exchange, and program value with the latest upgrade.

As shared on Twitter, Polygon 2.0 has radically reimagined almost all aspects of Polygon from polygon architecture to governance to tokenomics. Thus, it can be seen as the roadmap for Polygon to be a value layer focused on offering unlimited scalability and unified liquidity through zero-knowledge (ZK) tech.

Thus, it aims to be the network of interconnected chains which is powered with ZK a cryptographic technique allowing one party called prover to prove the statement’s validity to another associated party known as verifier without revealing any other additional confidential information. Since the network supports an unlimited number of chains, thus cross-chain interactions can happen much more safely and instantly without the need for any additional security or trust assumptions.

Primarily, Polygon 2.0 will unify protocols and provide seamless usage across zk- Ethereum Virtual Machine tech, supernets, and proof-of-stake. Tweeting about it, Ryan Wyatt, the president of Polygon Labs mentioned that this technology would support “token evolution” and “ long-term decentralized governance”.

Wyatt also emphasized the importance of “Blockchain addressing the problem related to value extraction” and highlighted the importance of well – a regulated blockchain ecosystem in the United States before a US House of Representatives committee on June 7, 2023. This hearing took after SEC filed lawsuits against major crypto exchanges in the country.

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