Polygon MATIC has been making news all through 2023 for the new addition it has been making to its blockchain. In its last blog post on June 12, 2023, Polygon positioned its new version as being the Value layer of the Internet. The layer 2 scaling solution for Ethereum is all set to reveal its blueprint for the 2.0 version of Polygon over the upcoming weeks. It addressed in the blog that the new version is set to include “topics like the future of the Polygon PoS chain, the utility and evolution of the Polygon token, and the transition to greater community governance of the protocol and treasury.”
Read More: Polygon Price Prediction
The evolving changes to the protocol are also looking at enabling decentralized finance, ownership of digital assets, new means for coordination, and so on. As part of the changes that are upcoming to the Polygon blockchain, is set to become a network of zero-knowledge (ZK) layer 2 chains. The chains will be made in such a way that they will be able to communicate among themselves. The blog post on the Version 2.0 of Polygon also mentioned that for the user of the blockchain, the network will come off as a single blockchain.
1/ Our vision for Polygon is simple: to build the Value Layer of the Internet.
The Internet allows anyone to create and exchange information. The Value Layer allows anyone to create, exchange, and program value.
Enter Polygon 2.0: a blueprint to build the ultimate Value Layer. pic.twitter.com/9eYSr3H1L5
— Polygon (Labs) (@0xPolygonLabs) June 12, 2023
At present, back in March 2023, when the Polygon network released zkEVM Beta, is the only chain from Polygon that is capable of incorporating the ZK technology. In short, ZK technology is a type of scaling solution that makes use of zero-knowledge proofs in order to scale blockchains while also reducing transaction fees.
While that is the case, the main chain of Polygon, which is the Polygon PoS chain, currently is not ZK compatible. However, Polygon has been exploring the possibility of using ZK technology in its main chain for a while. The announcement about the way that Polygon plans to address that about Polygon PoS chain is set to be discussed in the next week. Following this, Polygon is also set to make a series of other announcements over the next month on the blockchain’s architecture, its token, and governance.
Additional Read: Why is Polygon Price Down by 60%?
To keep up with all new activities, keep an eye out for Crypto News!
Source: CoinDesk
Related posts
Bitcoin Price Hits New All-Time High Following Fed’s 25-Basis-Point Rate Cut
Fed’s interest rate cut spurs crypto momentum, boosting Bitcoin and Ethereum prices.
Blum Secures Major Investment from TOP to Strengthen DeFi Presence in TON Ecosystem
TOP’s backing aims to accelerate Blum’s multi-blockchain expansion.
