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Polygon Labs, the developer of main Ethereum Layer 2 scaling answer Polygon, has introduced the rollout of Polygon 2.0, a big improve designed to determine the community because the “worth layer of the web.”
“Worth Layer”
Polygon 2.0 considerably builds upon the L2 chain’s current community. In contrast to the present model—successfully a Layer 2 sidechain for Ethereum—Polygon 2.0 will likely be a community of Layer 2 chains powered by ZK proofs that work in tandem as a unified community by way of a novel cross-chain coordination protocol.
In idea, this may permit the community to assist a just about limitless variety of chains, providing limitless scalability and unified liquidity.
In line with the announcement:
Polygon 2.0 is a community of ZK-powered L2 chains, unified by way of a novel cross-chain coordination protocol. For a consumer, the whole community will really feel like utilizing a single chain. The community can assist a virtually limitless variety of chains and cross-chain interactions can occur safely and immediately, with out further safety or belief assumptions. Limitless scalability and unified liquidity.
Zero-Data Proofs (ZKPs) are cryptographic strategies whereby one occasion can show to a different {that a} assertion is true with out revealing any data past the validity of the assertion itself, thus making certain the privateness and safety of every occasion.
The rollout, the results of over a 12 months’s collaboration amongst varied stakeholders, is to be detailed within the coming weeks. Per the announcement, the Polygon group should additionally approve the proposal earlier than implementation.
Constructing on popularity
Polygon, initially referred to as Matic Community, gained prominence as a Layer 2 scaling answer that executes cheaper, quicker transactions which are finally secured on the Ethereum blockchain. To this point, Layer 2 chains have been vital in scaling blockchain know-how by “offloading” particular person transactions and finally deciding on the primary chain.
Polygon 2.0 is designed to additional improve these capabilities. In line with the corporate’s weblog publish, the improve will introduce a collection of modules that builders can use to construct their very own blockchain networks. These modules embody consensus and synchronization mechanisms, fraud proofs, and extra. The aim is to supply a extra versatile and sturdy platform for decentralized functions (dApps).
The announcement comes inside every week of the SEC’s historic charging of two main business gamers with securities violations. In its fits towards each Coinbase and Binance, the SEC listed Polygon as one of many crypto tokens it thought of to be an unregistered safety. The SEC didn’t cost Polygon Labs with wrongdoing or listing it as a defendant in both swimsuit.
The publish Polygon Labs broadcasts Polygon 2.0 appeared first on CryptoSlate.
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