Amalgamation of Ethereum layer 2 scaling networks
Polygon co-founder Jordi Baylina has announced that 2024 will see the completion of Polygon's "Polygon 2.0" cross-chain coordination protocol. Baylina stated that next year will be a crucial test for the scalability and integration of Polygon's various networks, with the implementation of zero-knowledge proofs (ZK-proofs) playing a key role.
Unifying different protocols with ZK-proof technology
Polygon 2.0 aims to unify the different protocols within Polygon's ecosystem using ZK-proof technology. This upgrade will create a continuous and unbounded blockspace, allowing for the sharing of liquidity and composability between networks with different flavors.
Significant milestones in 2023
Baylina reflects on the achievements of Polygon in 2023, including the release of the zkEVM mainnet beta and the introduction of Polygon's Chain Development Kit (CDK). The zkEVM reduces transaction costs and increases smart contract deployment throughput, while the CDK allows developers to launch customized layer 2 protocols on Ethereum.
The challenge of transitioning to Polygon 2.0
Baylina acknowledges the complexity of transitioning to Polygon 2.0, emphasizing the need for consensus and the migration of bridges and applications. He describes Polygon as a decentralized system, making the transition a challenging task.
Polygon Improvement Proposals (PIPs) for the future
In September 2023, Polygon released three PIPs, including a proposal for the transition from MATIC to POL tokens. This transition will see POL become the native gas and staking token for the Polygon ecosystem.
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