It’s been revealed that Polygon has big plans ahead, and the latest news has been making a fuss in the crypto space. Check out the latest reports about the project below.
Polygon plans to launch new project
According to the latest reports, the core team at Polygon has unveiled its plan for building Polygon 2.0 — envisioned as a network of zero-knowledge-powered Layer 2 blockchains.
“Polygon operates a proof-of-stake sidechain network called Polygon POS, which runs parallel to Ethereum and hosts notable crypto apps, such as Uniswap and Aave,” according to the reports coming from The Block.
It is important to note the fact that this also manages a Layer 2 network based on ZK-Rollups, named Polygon zkEVM, complementing its existing proof-of-stake chain.
“However, the team is preparing to create additional Layer 2s that leverage ZK-Rollups — one of the two most adopted solutions designed to scale Ethereum with off-chain computation. Such individual Layer 2s could interact with each other securely,” the latest reports note.
What is Polygon 2.0?
The same online publication mentioned the fact that the team explained that the architecture of Polygon 2.0 is being designed to facilitate instantaneous and secure cross-chain interactions with Layer 2 chains without additional trust assumptions.
The team stated that this initiative aims to establish the “Value Layer of the Internet.”
“Individual blockchains aren’t infinitely scalable; they have strict throughput limits,” the team noted.
The same notes continued and stated the following:
“We can add capacity by creating new chains, but not without fragmenting liquidity and reducing security and capital efficiency. Enter Polygon 2.0.”
Polygon in the news
Polygon Labs has responded to the United States Securities and Exchange Commission’s claims that MATIC is an unregistered security.
After stating that the token was “developed outside the U.S., deployed outside the U.S. and focused to this day on the global community that supports the network,” Polygon Labs claimed the following:
“MATIC was a necessary part of the Polygon technology from Day 1, ensuring that the network would be secure — and remains so to this day.”
