It is believed that the upgrade will impact essentially every part of the platform.
On June 12th, the innovative development team at Polygon Labs introduced a new series of enhancements, collectively named "Polygon 2.0."
The core of these enhancements is a new vision for an internet "Value Layer," an environment where users can freely craft, transact, and modify the value, as stated by the company.
Did you know?
Want to get smarter & wealthier with crypto?
Subscribe - We publish new crypto explainer videos every week!
What is Chainlink? LINK Explained Simply (ANIMATED)
Polygon 2.0, as presented on the company's Twitter, involves a fundamental transformation across almost all aspects of the Polygon platform. These aspects range from governance protocols to tokenomics and even protocol architecture.
The firm is gearing towards establishing Polygon as the Value Layer of the internet, promising boundless scalability and compact liquidity through Zero-Knowledge (ZK) technology.
The foundation of Polygon 2.0 rests on an intricate network of interconnected chains. This network harnesses the power of ZK technology - a sophisticated cryptographic procedure that enables one party to authenticate a statement's truthfulness to another party. In the words of Polygon Labs:
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.
At its essence, Polygon 2.0 is designed to unify protocols across multiple platforms, including zk-Ethereum Virtual Machine technology, proof-of-stake, and supernets.
This synergy would provide a seamless user experience across these systems, akin to using a single blockchain, as revealed by Ryan Wyatt, the president of Polygon Labs on Twitter. Wyatt also drew attention to the dynamic evolution of tokens and the long-term decentralized governance as some key features of the new technology.
In the following weeks, Polygon Labs anticipates unveiling more intricate details about this groundbreaking technology.
In other Polygon-related news, at the beginning of June, Deutsche Telekom announced that it become the validator for the Ethereum Layer-2 scaling platform, Polygon.
