Polygon Labs recently announced an update to their systems, which enables users to create, exchange, and program value on the internet. They named this initiative Polygon 2.0. The announcement was made on June 12th, and it is anticipated to have a positive impact on the growth of their blockchain.
The Polygon 2.0 is a set of blockchain upgrades that would establish a value layer on the network, allowing users to create and program value over the crypto industry. Polygon developers were inspired by how people create and share online information. Similarly, They would attempt to create, exchange, and program value over the internet.
"Our vision for Polygon is simple: to build the Value Layer of the Internet. Just like the Internet allows anyone to create and exchange information, the Value Layer is the fundamental protocol that allows anyone to create, exchange and program value," Polygon said in their blog post.
The Missing Piece of the Internet
According to Polygon, one of their primary goals is to remove the internet's gatekeepers. They declared this the missing piece of the internet.
2/ Polygon 2.0 is a set of upgrades that radically reimagine almost every aspect of Polygon, from protocol architecture to tokenomics to governance.
— Polygon (Labs) (@0xPolygonLabs) June 12, 2023
It is a roadmap for how Polygon will become the Value Layer, offering unlimited scalability and unified liquidity via ZK tech.
Accordingly, the blockchain would want everyone to have equal access to the internet and democratize the entire process. In other words, they don't want the internet to be centralized, with certain institutions and brands controlling the narrative on the Internet. Instead, users worldwide would have equal access and the ability to create online value.
"The Internet democratized access to information; the Value Layer democratizes access to the global economy. It enables decentralized finance, digital ownership, new mechanisms for coordination and much more. It is the missing piece of an Internet that serves users, not gate-keepers, rent-seekers or middle-men. Polygon 2.0 is our blueprint for building the Value Layer. It is a set of proposed upgrades that radically reimagine almost every aspect of Polygon, from protocol architecture to tokenomics to governance," Polygon said.
Polygon Building on Ethereum's Legacy
Polygon acknowledged Ethereum as being the first blockchain network that started building to help users create value on the internet. It mentioned that Ethereum was the first to demonstrate that the internet can be a bit different by allowing users to be in charge of the value circulating on the internet. They would be the ones to create these values, share them, and program them.
"Ethereum introduced the concept of the Value Layer. It demonstrated that people can create, exchange, and program value seamlessly and securely, without intermediaries. But Ethereum and the crypto ecosystem currently don’t resemble the rest of the Internet," Polygon added.
Polygon 2.0 would be rolling out its Polygon zkevm technology to achieve its aims. In addition, it would be a network of interconnected chains powered by ZK technology. The Polygon zkevm is a cryptographic technique that allows a blockchain network to connect with others. They would act as provers and verifiers.
"Polygon 2.0 is a network of ZK-powered L2 chains, unified via a novel cross-chain coordination protocol. For a user, the entire network will feel like using a single chain. The network can support a practically unlimited number of chains and cross-chain interactions can happen safely and instantly, without additional security or trust assumptions. Unlimited scalability and unified liquidity," reads a portion of their statement.