From MATIC to POL: Polygon’s 2.0 Upgrade Targets Internet-Level Scalability

Details person been released astir Polygon’s upcoming upgrade, Polygon 2.0. The company, known for its Ethereum scaling solutions, has introduced a fewer Polygon betterment proposals (PIPs) arsenic portion of its displacement to a web of interconnected zero-knowledge-powered chains.

Polygon 2.0 Unveiled successful 3 PIPs

According to the announcement, Polygon 2.0 focuses connected scalability and interoperability by implementing zero-knowledge (ZK) technology. The intent of the upgrade is to modulation Polygon into a web resembling the operation of the Internet. This web of ZK-powered chains seeks to heighten Ethereum’s capableness without compromising its security.

“Three Polygon Improvement Proposals (PIPs) were released that laic retired the circumstantial changes that, pursuing assemblage endorsement, volition statesman to instrumentality spot successful aboriginal Q4 of this year,” the update details.

The archetypal proposals ore connected modifications to Polygon’s existent Ethereum contracts, aiming to forestall inconvenience for users and developers. Key changes see transitioning the autochthonal token from MATIC to POL and introducing a Staking Layer for validators.

Polygon developers enactment that the superior nonsubjective is to grow Ethereum artifact abstraction successful a mode akin to the web operation of the internet. Polygon believes that with ZK technology, Ethereum artifact abstraction tin perchance lucifer the expanse of the internet.

The PIPs include:

• PIP-17: Polygon Ecosystem Token (POL)
• PIP-18: Polygon 2.0 Phase 0
• PIP-19: Update Polygon PoS Native Token to POL

In the past month, Polygon’s MATIC token has declined much than 10% against the U.S. dollar and 4% successful the past 2 weeks. MATIC ranks 14th among much than 10,000 cryptocurrency assets, with a marketplace capitalization of astir $4.81 billion.

Regarding decentralized concern (defi), the full worth locked (TVL) successful Polygon stands astatine $773.13 million, dispersed crossed 474 defi protocols. With the upcoming modulation to POL, users volition person the accidental to swap MATIC for POL astatine a 1:1 rate. Polygon’s caller connection astir the Polygon 2.0 modulation indicates that the upgrades volition beryllium implemented successful phases, alternatively than each astatine once.

What bash you deliberation astir the Polygon 2.0 upgrade? Share your thoughts and opinions astir this taxable successful the comments conception below.