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Polygon Labs publicizes Polygon 2.0

Polygon Labs, the developer of main Ethereum Layer 2 scaling resolution Polygon, has introduced the rollout of Polygon 2.0, a major improve designed to determine the community because the “worth layer of the web.”

“Worth Layer”

Polygon 2.0 considerably builds upon the L2 chain’s present community. In contrast to the present model—successfully a Layer 2 sidechain for Ethereum—Polygon 2.0 will likely be a community of Layer 2 chains powered by ZK proofs that work in tandem as a unified community by way of a novel cross-chain coordination protocol.

In principle, this can permit the community to help a just about limitless variety of chains, providing limitless scalability and unified liquidity.

Based on the announcement:

Polygon 2.0 is a community of ZK-powered L2 chains, unified by way of a novel cross-chain coordination protocol. For a consumer, all the community will really feel like utilizing a single chain. The community can help a virtually limitless variety of chains and cross-chain interactions can occur safely and immediately, with out further safety or belief assumptions. Limitless scalability and unified liquidity.

Zero-Information Proofs (ZKPs) are cryptographic strategies whereby one get together can show to a different {that a} assertion is true with out revealing any info past the validity of the assertion itself, thus guaranteeing the privateness and safety of every get together.

The rollout, the results of over a yr’s collaboration amongst numerous stakeholders, is to be detailed within the coming weeks. Per the announcement, the Polygon neighborhood should additionally approve the proposal earlier than implementation.

Constructing on popularity

Polygon, initially often called Matic Community, gained prominence as a Layer 2 scaling resolution that executes cheaper, quicker transactions which are finally secured on the Ethereum blockchain. So far, Layer 2 chains have been crucial in scaling blockchain expertise by “offloading” particular person transactions and finally deciding on the primary chain.

Polygon 2.0 is designed to additional improve these capabilities. Based on the corporate’s weblog submit, the improve will introduce a collection of modules that builders can use to construct their very own blockchain networks. These modules embrace consensus and synchronization mechanisms, fraud proofs, and extra. The purpose is to offer a extra versatile and strong platform for decentralized functions (dApps).

The announcement comes inside per week of the SEC’s historic charging of two main business gamers with securities violations. In its fits towards each Coinbase and Binance, the SEC listed Polygon as one of many crypto tokens it thought-about to be an unregistered safety. The SEC didn’t cost Polygon Labs with wrongdoing or listing it as a defendant in both swimsuit.

The submit Polygon Labs publicizes Polygon 2.0 appeared first on CryptoSlate.



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