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Within the evolving world of blockchain know-how, Polygon 2.0 unveiled its newest technical proposal as we speak: POL, the brand new token designed to safe, broaden, and convey alignment to the Polygon ecosystem.
Polygon envisions POL as the following era of native tokens, with the intention to switch the present MATIC token if the group agrees to undertake it. If authorised, MATIC holders can have their tokens changed with POL on a 1:1 ratio, eliminating the prospect of two native tokens coexisting within the Polygon community.
Polygon has drawn comparisons between POL and the native tokens of different vital blockchain networks. Whereas Bitcoin’s BTC has loved appreciable success, individuals view it as an unproductive token as a result of its holders can not take part within the protocol and earn rewards. Ethereum’s ETH, nonetheless, is a productive token, permitting holders to grow to be validators of the Ethereum blockchain and earn ETH rewards and costs in return.
1/ At the moment, the following technical proposal of Polygon 2.0 is unveiled:
POL, the upgraded token of the Polygon protocol! 💫
POL is the following era native token, designed to safe, align and develop the Polygon ecosystem.
Watch the video to get an thought how cool it’s, then 🧵 pic.twitter.com/Gn7KcHpWEY
— Polygon (Labs) (@0xPolygonLabs) July 13, 2023
Polygon presents POL
On this context, Polygon presents POL because the third era of native tokens. Dubbed a “hyperproductive” token, POL brings additional engagement alternatives for its holders. With POL, holders can grow to be validators and obtain rewards, much like Ethereum’s ETH. Polygon has made two key modifications. Validators can validate many chains. Every chain provides validators extra roles.
Extra options can be revealed. That is simply the beginning of POL’s design. The group is requested to learn the weblog and whitepaper.
Polygon’s information highlights the expansion in blockchain tech. It reveals the continuing effort to refine these sectors. As all the time, the success of the brand new token will rely on group adoption and integration into the broader blockchain ecosystem.
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