Polygon 2.0 brings major improvements to crypto network

Polygon Labs has indicated that it will continue to redesign its entire architecture. The team aims to make the Polygon (MATIC) network as efficient and user-friendly as possible with Polygon 2.0. The goal is a digital economy that serves everyone.

Multi-chain liquidity on Polygon

The new version became earlier announced this month. The announced upgrades include sweeping changes to architecture, tokenomics, and governance.

This week became more clear about the new architecture. The architecture must make it easy to set up new chains in the ecosystem. Also come with that bridges watch that make it easy to send crypto from one chain to another.

Wrapped tokens will therefore be a thing of the past. This is possible because users of the network link their crypto to the tokens deposited on Ethereum (ETH). By overcoming these challenges, Polygon 2.0 will become the first “multi-chain” design with high levels of liquidity and transaction speeds, according to co-founder Brendan Farmer.

Further information on tokenomics and governance will be announced in the week of July 10 and July 17, respectively.

ZK proofs

In March, Polygon launched the zkEVM Beta and was the only blockchain network to deploy Zero-Knowledge (ZK) technology. The company is now exploring the possibility of integrating ZK technology into its main chain.

ZKPs come from cryptography and are a concept in which a party (the prover) to another party (the verify) can prove that they have knowledge of a particular value or fact, without revealing that particular value or fact itself. It generally provides more privacy, improves scalability and lowers transaction costs.

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MATIC rate

The price made an increase of more than 5% today. The price stood at $0.621. At the time of writing, the price is at $0.658.

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