StartUnkategorisiertPolygon 2.0 Unleashes the Power of the 'Value Layer' - A Game-Changer...

Polygon 2.0 Unleashes the Power of the ‚Value Layer‘ – A Game-Changer for the Internet of Value

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  • Polygon Labs announces Polygon 2.0, a series of enhancements aimed at creating the internet’s „Value Layer“, allowing users to generate, exchange, and program value.
  • Polygon 2.0 intends to harness zero-knowledge (ZK) technology to support an almost unlimited number of chains and instant, secure cross-chain interactions.

In the constantly evolving landscape of blockchain technology, Polygon Labs has taken a significant step forward by introducing Polygon 2.0 on June 12. The new upgrade encapsulates a suite of improvements designed to establish what the company refers to as the internet’s „Value Layer“, empowering users to create, exchange, and program value in unprecedented ways.

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Polygon 2.0 seeks to radically revamp virtually all aspects of Polygon, spanning protocol architecture, tokenomics, and governance. It outlines the roadmap to becoming the Value Layer, offering boundless scalability and unified liquidity through the use of Zero-Knowledge (ZK) technology.

The core feature of ZK technology lies in its ability to enable a party, known as the prover, to verify a statement’s validity to another party, called the verifier, without revealing any additional information beyond the truth of the statement. Polygon Labs elaborates,

„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.“

Fundamentally, Polygon 2.0 seeks to integrate protocols, allowing for seamless usage across ZK-Ethereum Virtual Machine (EVM) technology, proof-of-stake, and supernets. This cohesion will provide an experience akin to using a single chain, explains Polygon Labs president, Ryan Wyatt, on Twitter. He further highlighted „token evolution“ and „long-term decentralized governance“ as key facets of this technology.

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More details regarding Polygon 2.0’s technology are expected to be unveiled in the coming weeks. Meanwhile, the importance of such an upgrade was underscored by Wyatt during his June 7 testimony before a United States House of Representatives committee. He emphasized the role of blockchain in addressing the „value extraction“ problem plaguing the current internet landscape.

He underscored the potential of Web3, powered by decentralized, transparent systems, to democratize the internet and return data control to users. Wyatt’s emphasis on the need for a well-regulated U.S. blockchain ecosystem reflects ongoing conversations around industry regulation, particularly in light of recent SEC lawsuits against major crypto exchanges.

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Brian Johnson
Brian Johnson
A dedicated Bitcoin journalist passionate about uncovering the latest trends, developments, and innovations in the world of cryptocurrency, while delivering engaging and well-researched articles to inform and educate readers on the dynamic digital finance landscape.
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