Jun 17, 2023
On June 12, 2023, Polygon Labs took to Twitter to announce the release of Polygon 2.0, a groundbreaking upgrade set to redefine the very fabric of the Polygon network.
This announcement began a series of informative blog posts, community meets, and Ask Me Anything (AMA) sessions aimed at shedding light on this transformative technology. The launch will unfold in stages over the coming weeks and months.
In essence, Polygon 2.0 is a comprehensive set of proposed enhancements that aim to upgrade every facet of Polygon, from its protocol architecture and tokenomics to its governance.
It is to construct the Value Layer of the internet - a fundamental protocol that helps anyone to create, exchange, and program value.
Built on the foundation of Ethereum, the Value Layer expands its capabilities through zero-knowledge (ZK) technology. For a detailed understanding of ZK technology, refer to my article, which delves into its intricacies.
Zero-knowledge (Zk) rollups are a layer 2 scaling solution that increases throughput on Ethereum by moving computation and state storage off-chain. It can process thousands of transactions in a batch and then post minimal summary data to Mainnet.
As we eagerly await the phased launch of Polygon 2.0 over the next few weeks and months, it's clear that this upgrade is poised to be a game-changer for building decentralized applications for a global audience, democratizing finance, digital ownership, and pioneering coordination mechanisms.Stay tuned for more exciting updates on this groundbreaking development.
Thank you for taking the time to read my article.
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