On June 12, Polygon Labs introduced “Polygon 2.0,” a set of upgrades that seeks to determine the “Worth Layer” of the web, which the corporate says will permit customers “to create, trade, and program worth.”
1/ Our imaginative and prescient for Polygon is easy: to construct the Worth Layer of the Web.
The Web permits anybody to create and trade info. The Worth Layer permits anybody to create, trade, and program worth.
Enter Polygon 2.0: a blueprint to construct the last word Worth Layer. pic.twitter.com/9eYSr3H1L5
— Polygon (Labs) (@0xPolygonLabs) June 12, 2023
In line with an announcement shared on Twitter, “Polygon 2.0 is a set of upgrades that radically reimagine virtually each side of Polygon, from protocol structure to tokenomics to governance. It’s a roadmap for the way Polygon will grow to be the Worth Layer, providing limitless scalability and unified liquidity by way of ZK tech.”
Polygon 2.0 is got down to be a community of interconnected chains powered by Zero-Data (ZK) know-how, a cryptographic method that permits one social gathering, referred to as the prover, to show the validity of an announcement to a different social gathering, often known as the verifier, with out revealing any extra info past the assertion’s validity. In line with Polygon Labs;
“The community can assist a virtually limitless variety of chains and cross-chain interactions can occur safely and immediately, with out extra safety or belief assumptions. Limitless scalability and unified liquidity.”
At its core, Polygon 2.0 will unify protocols offering “seamless utilization throughout zkEVM, PoS, & Supernets,” making it “really feel like you might be utilizing a single chain,” Polygon Labs president Ryan Wyatt shared on Twitter. Moreover, he talked about “Token evolution” and “long-term decentralized governance” as among the highlights of the know-how.
What’s Polygon 2.0?
At its core:
– Unifying the protocols: seamless utilization throughout zkEVM, PoS, & Supernets; it’s going to really feel like you might be utilizing a single chain
– Token evolution
– Set up long-term decentralized governance.
— Ryan Wyatt (@Fwiz) June 12, 2023
Polygon is anticipated to disclose extra particulars on the know-how within the coming weeks.
On June 7, Wyatt testified earlier than america Home Committee on the subject of web democratization and the potential of Web3 and blockchain know-how. The committee’s Subcommittee on Innovation, Information and Commerce explored the way forward for these applied sciences and the regulatory challenges they current.
In the course of the listening to, Wyatt emphasised the function of blockchain in addressing the “worth extraction” downside prevalent within the present web panorama. He defined that Web3, enabled by decentralized and clear techniques, gives an answer by democratizing the web and giving customers management over their knowledge. Wyatt highlighted the significance of constructing a well-regulated blockchain ecosystem in america, emphasizing the potential advantages for customers and the general financial system. The listening to befell shortly after the Securities and Alternate Fee filed lawsuits in opposition to main crypto exchanges, including additional relevance to the discussions on regulation and business growth.