Polygon Blockchain to Add a “Value Layer” of the Internet
Polygon Labs, a provider of blockchain services, is set to release “Polygon 2.0” on June 12, 2023. This update will introduce a “Value Layer” to the internet. It is expected that this upgrade will empower users to “generate, transfer, and encode value.”
According to the Polygon team, the Value Layer will facilitate the creation and exchange of information for all individuals. The Value Layer is a primary protocol that facilitates the creation, exchange, and programming of value for all individuals.
In a tweet, Polygon 2.0 is described as comprising a range of improvements that fundamentally transform almost all facets of Polygon, from protocol architecture to tokenomics to governance. The aforementioned statement outlines a strategic blueprint for Polygon’s transformation into the Value Layer, which will leverage ZK technology to achieve seamless liquidity and boundless scalability.
According to sources, Ryan Wyatt, the President of Polygon Labs, has elucidated that the technology encompasses “token evolution and long-term decentralized governance.”
The network has the capability to accommodate an extensive number of chains, and the communication between these chains can take place in a secure and prompt manner, without necessitating any supplementary security or trust assumptions. Polygon Labs provided an explanation of “unlimited scalability and unified liquidity.”
The team aims to make Polygon 2.0 similar to the rest of the internet. The proposed development will enable Ethereum to realize its intended purpose. The development of Polygon 2.0 is the outcome of over a year’s worth of teamwork between Polygon Labs, developers, researchers, applications, node administrators, validators, and the broader Polygon and Ethereum communities.