Polygon Labs, the developer of main Ethereum Layer 2 scaling resolution Polygon, has introduced the rollout of Polygon 2.0, a big 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 current community. Not like the present model—successfully a Layer 2 sidechain for Ethereum—Polygon 2.0 will likely be a community of Layer 2 chains powered by ZK proofs that work in tandem as a unified community by way of a novel cross-chain coordination protocol.
In principle, it will permit the community to help a just about limitless variety of chains, providing limitless scalability and unified liquidity.
Based on the announcement:
Polygon 2.0 is a community of ZK-powered L2 chains, unified by way of a novel cross-chain coordination protocol. For a consumer, your entire 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-Information 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 fame
Polygon, initially referred to as Matic Community, gained prominence as a Layer 2 scaling resolution that executes cheaper, quicker transactions which might be finally secured on the Ethereum blockchain. To this point, Layer 2 chains have been vital in scaling blockchain know-how by “offloading” particular person transactions and finally selecting the primary chain.
Polygon 2.0 is designed to additional improve these capabilities. Based on the corporate’s weblog put up, the improve will introduce a set of modules that builders can use to construct their very own blockchain networks. These modules embody consensus and synchronization mechanisms, fraud proofs, and extra. The aim is to supply a extra versatile and strong platform for decentralized purposes (dApps).
The announcement comes inside per week of the SEC’s historic charging of two main trade 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-about 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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