Polygon Labs Unveils Proposals for Transition to Polygon 2.0 and Zero-Knowledge Cryptography Ecosystem
Summary:
Polygon Labs has released three Polygon Improvement Proposals (PIPs) to kickstart the transition to Polygon 2.0, an interconnected layer 2 Ethereum ecosystem. The proposals outline the technical details for establishing ZK-powered layer 2 chains that scale Ethereum and include the transition from MATIC to SOL tokens. This marks an important step in Polygon's mission to become the value layer of the internet using zero-knowledge technology.
Polygon Labs is taking steps to implement its vision of an interconnected layer 2 Ethereum ecosystem powered by zero-knowledge cryptography. The company has released three Polygon Improvement Proposals (PIPs) that will kickstart the transition to Polygon 2.0. The proposals outline technical details for the establishment of interconnected ZK-powered layer 2 chains that scale Ethereum. One proposal involves transitioning MATIC tokens to become SOL tokens, which will serve as the native token for the Polygon Proof-of-Stake (PoS) protocol. Another proposal includes the technical description of POL tokens and their accompanying contracts for emission and token migrations. The final proposal suggests updating the native gas token from MATIC to POL on the Polygon PoS while ensuring maximum backwards compatibility. This move marks an important milestone for Polygon as it aims to become the value layer of the internet using zero-knowledge technology to provide efficient and affordable performance to the Ethereum ecosystem.
Published At
9/14/2023 1:05:51 PM
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