Tuesday, 24 December 2024
Trending

Crypto News

Polygon 2.0 introduces upgrades to tap into ‘Value Layer’ of internet

Polygon 2.0 introduces upgrades to tap into 'Value Layer' of internet


On June 12, Polygon Labs announced “Polygon 2.0,” a set of upgrades that seeks to establish the “Value Layer” of the internet, which the company says will allow users “to create, exchange, and program value.”

According to an announcement shared on Twitter, “Polygon 2.0 is a set of upgrades that radically reimagine almost every aspect of Polygon, from protocol architecture to tokenomics to governance. It is a roadmap for how Polygon will become the Value Layer, offering unlimited scalability and unified liquidity via ZK tech.”

Polygon 2.0 is set out to be a network of interconnected chains powered by Zero-Knowledge (ZK) technology, a cryptographic technique that allows one party, called the prover, to prove the validity of a statement to another party, known as the verifier, without revealing any additional information beyond the statement’s validity. According to 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 core, Polygon 2.0 will unify protocols providing “seamless usage across zkEVM, PoS, & Supernets,” making it “feel like you are using a single chain,” Polygon Labs president Ryan Wyatt shared on Twitter. Additionally, he mentioned “Token evolution” and “long-term decentralized governance” as some of the highlights of the technology. 

Polygon is expected to reveal more details on the technology in the coming weeks. 

Related: Google Cloud to optimize Polygon zkEVM scaling performance

On June 7, Wyatt testified before the United States House Committee on the topic of internet democratization and the potential of Web3 and blockchain…

Click Here to Read the Full Original Article at Cointelegraph.com News…