POLY

Polygon Unveils Polygon 2.0: The Value Layer of the Internet

by BSC News

June 13, 2023

chain

Polygon 2.0 will be a network of ZK-powered L2 chains that are unified via a cross-chain coordination protocol, providing a seamless experience for users.

Polygon 2.0: The Value Layer

The team at Polygon has announced its ambitious plan to build the Value Layer of the Internet with the introduction of Polygon 2.0. This innovative upgrade aims to establish a fundamental protocol that enables individuals to create, exchange, and program value, similar to how the Internet democratized access to information.

By democratizing access to the global economy, the Value Layer facilitates various decentralized finance (DeFi) applications, digital ownership frameworks, and novel coordination mechanisms. Polygon 2.0 represents a comprehensive blueprint that reimagines multiple aspects of Polygon, ranging from protocol architecture to tokenomics to governance.

In the upcoming weeks, Polygon will provide in-depth insights into the different components of Polygon 2.0. This includes discussions on the future of the Polygon Proof-of-Stake (PoS) chain, the evolution of the Polygon token, and the transition towards greater community governance and treasury management. The roadmap for Polygon's transformation into the Value Layer of the Internet will emphasize unlimited scalability and unified liquidity utilizing ZK technology.

The concept of the Value Layer was initially introduced by Ethereum, which showcased the seamless and secure creation, exchange, and programming of value without intermediaries. However, Ethereum and the wider crypto ecosystem do not currently mirror the scalability and accessibility of the Internet.

Polygon 2.0 tackles this challenge by leveraging a network of ZK-powered Layer 2 (L2) chains, interconnected through an innovative cross-chain coordination protocol. This network will provide users with a unified experience akin to using a single chain. With the ability to support an unlimited number of chains and instantaneous cross-chain interactions, Polygon 2.0 achieves unparalleled scalability and unified liquidity.

Polygon's formal governance process, which has been established within the ecosystem, empowers the community to actively participate in shaping the future of Polygon. Ultimately, the Polygon community, as the custodian of the Polygon protocol, holds the authority to accept and implement Polygon 2.0, signaling the start of an exciting new chapter in Polygon's journey.

What is Polygon:

Polygon is a “sidechain” scaling solution that runs alongside the Ethereum blockchain — allowing for speedy transactions and low fees. MATIC is the network’s native cryptocurrency, which is used for fees, staking, and more. The effectiveness of Polygon as an alternative to Ethereum has seen existing projects such as Aave and Curve adopting its chain.

For more about Polygon:

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