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, change, and program worth.”
1/ Our imaginative and prescient for Polygon is straightforward: to construct the Worth Layer of the Web.
The Web permits anybody to create and change info. The Worth Layer permits anybody to create, change, 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 nearly each facet of Polygon, from protocol structure to tokenomics to governance. It’s a roadmap for the way Polygon will turn out to be the Worth Layer, providing limitless scalability and unified liquidity through ZK [zero-knowledge] tech.”
Polygon 2.0 is getting down to be a community of interconnected chains powered by ZK know-how, a cryptographic method that enables one celebration, known as the prover, to show the validity of an announcement to a different celebration, generally known as the verifier, with out revealing any extra info past the assertion’s validity. In line with Polygon Labs:
“The community can help 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 zk-Ethereum Digital Machine tech, proof-of-stake, and supernets, making it “really feel like you’re utilizing a single chain,” Polygon Labs president Ryan Wyatt shared on Twitter. Moreover, he talked about “Token evolution” and “long-term decentralized governance” as a number of the highlights of the know-how.
What’s Polygon 2.0?
At its core:
– Unifying the protocols: seamless utilization throughout zkEVM, PoS, & Supernets; it would really feel like you’re utilizing a single chain
– Token evolution
– Set up long-term decentralized governance.
Will probably be a sequence of bulletins this summer season. https://t.co/DRWl3kBAkT pic.twitter.com/wUOWP4xHWC
— Ryan Wyatt (@Fwiz) June 12, 2023
Polygon is anticipated to disclose extra particulars on the know-how within the coming weeks.
Associated: Google Cloud to optimize Polygon zkEVM scaling efficiency
On June 7, Wyatt testified earlier than a United States Home of Representatives 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.
Through the listening to, Wyatt emphasised the position of blockchain in addressing the “worth extraction” downside prevalent within the present web panorama. He defined that Web3, enabled by decentralized and clear methods, gives an answer by democratizing the web and giving customers management over their information. Wyatt highlighted the significance of constructing a well-regulated blockchain ecosystem within the U.S., emphasizing the potential advantages for customers and the general financial system. The listening to happened shortly after the Securities and Trade Fee filed lawsuits towards main crypto exchanges, including additional relevance to the discussions on regulation and trade improvement.
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