Polygon Has Introduced Upgrades That Could Tap Into Internet’s Value Layer

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Polygon
Polygon

On the 12th of June, Polygon Labs had announced that it would be developing a set of upgrades that would seek to establish the Value Layer of the internet, which the company has claimed will be allowing the users to exchange, create, and program value.

According to an announcement that was put up in Twitter, Polygon 2.0 is simply a set of upgrades that would radically be reimagining every single aspect of Polygon, from the architecture of its protocol to tokenomics, to the governance.

For those wondering, this would also serve as a roadmap for how the company will turn into the Value Layer, offering unified liquidity, and unlimited scalability via ZK tech. The company is already setting out to be a network of multiple interconnected chains that will be powered by ZK technology, which is a cryptographic technique that allows a single party- called the prover, to prove a statement’s validity to another part, called the verifier. 

Polygon Could Be Bringing Out Its New Value Layer

At its core, Polygon will also be unifying all the protocols, where it would further provide seamless usage across the entirety of its zk-Ethereum Virtual Machine tech, supernets, and proof-of-stake, making it feel like someone is using a single chain. Ryan Wyatt, the president of Polygon Labs also put up on Twitter that the token evolution, as well as the long-term decentralized governance would be some of the highlights of this technology. 

Polygon will definitely be revealing more details about this technology in the next few weeks. On 7th June, Wyatt went on to testify before a United States House of Representatives committee regarding internet democratization and the potential of blockchain technology and Web3. The Subcommittee on Innovation, Data, and Commerce also explored the future of these technologies and the regulatory challenges that they ended up presenting.