Polygon Takes Wraps Off Version 2.0

The protocol calls its latest version “the value layer of the Internet.”

AccessTimeIconJun 12, 2023 at 6:03 p.m. UTC
Updated Apr 9, 2024 at 11:08 p.m. UTC
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Ethereum scaling solution Polygon (MATIC) will be revealing the blueprint for its 2.0 version over the coming weeks, addressing “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,” it said in a blog post Monday.

The protocol said Polygon 2.0 is its vision for building “the value layer of the internet,” enabling decentralized finance, digital ownership, new means for coordination and more.

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  • As part of that, Polygon 2.0 will be a network of zero-knowledge (ZK) layer 2 chains that will be able to communicate amongst themselves. The blog post also shared that on the user end, the network will feel like a single blockchain.

    Currently, the Polygon zkEVM Beta, which was released to the public in March, is the only chain from Polygon that incorporates ZK technology, a type of scaling solution that uses zero-knowledge proofs to scale blockchains and reduce transaction fees.

    Polygon's main chain, the Polygon PoS chain, currently is not ZK-compatible, though Polygon previously told CoinDesk in an interview that it was exploring the possibility of using ZK technology in its main chain.

    The announcement for how Polygon plans to address its Polygon PoS chain is set for next week. Following that, Polygon will make a series of announcements over the next four weeks on the blockchain's architecture, its token and governance.

    UPDATE (June 12, 18:46 UTC): Added additional detail on Polygon 2.0.


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    Margaux Nijkerk

    Margaux Nijkerk reports on the Ethereum protocol and L2s. A graduate of Johns Hopkins and Emory universities, she has a masters in International Affairs & Economics. She holds a small amount of ETH and other altcoins.

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