Polygon Labs, the developer of main Ethereum Layer 2 scaling resolution Polygon, has introduced the rollout of Polygon 2.0, a major improve designed to ascertain the community because the “worth layer of the web.”
“Worth Layer”
Polygon 2.0 considerably builds upon the L2 chain’s present community. Not like the present model—successfully a Layer 2 sidechain for Ethereum—Polygon 2.0 will probably be a community of Layer 2 chains powered by ZK proofs that work in tandem as a unified community through a novel cross-chain coordination protocol.
In idea, this can permit the community to help a nearly limitless variety of chains, providing limitless scalability and unified liquidity.
In response to the announcement:
Polygon 2.0 is a community of ZK-powered L2 chains, unified through a novel cross-chain coordination protocol. For a consumer, the whole community will really feel like utilizing a single chain. 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.
Zero-Data Proofs (ZKPs) are cryptographic strategies whereby one get together can show to a different {that a} assertion is true with out revealing any info past the validity of the assertion itself, thus making certain the privateness and safety of every get together.
The rollout, the results of over a yr’s collaboration amongst numerous stakeholders, is to be detailed within the coming weeks. Per the announcement, the Polygon neighborhood should additionally approve the proposal earlier than implementation.
Constructing on popularity
Polygon, initially often called Matic Community, gained prominence as a Layer 2 scaling resolution that executes cheaper, sooner transactions which might be in the end secured on the Ethereum blockchain. Thus far, Layer 2 chains have been crucial in scaling blockchain know-how by “offloading” particular person transactions and in the end deciding on the primary chain.
Polygon 2.0 is designed to additional improve these capabilities. In response to the corporate’s weblog publish, the improve will introduce a collection of modules that builders can use to construct their very own blockchain networks. These modules embrace consensus and synchronization mechanisms, fraud proofs, and extra. The objective is to supply a extra versatile and strong platform for decentralized functions (dApps).
The announcement comes inside per week of the SEC’s historic charging of two main business gamers with securities violations. In its fits in opposition to each Coinbase and Binance, the SEC listed Polygon as one of many crypto tokens it thought of to be an unregistered safety. The SEC didn’t cost Polygon Labs with wrongdoing or listing it as a defendant in both swimsuit.
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