Polygon Labs announced the upcoming launch of Polygon 2.0, a set of updates to create interconnected blockchain networks powered by zero-disclosure proof (ZKP) technology.
Polygon Labs announced the upcoming launch of Polygon 2.0, a set of updates that democratizes access to the global economy using the Value Layer of the Internet, a network of interconnected blockchains powered by ZKP (zero-disclosure proof).
Polygon Labs representatives note that the network will support a virtually unlimited number of chains, and the interaction between them will be safe and instantaneous. Polygon 2.0 will combine layer 2 protocols and provide tools to coordinate them, allowing for unlimited scalability and unified liquidity. The entire network will be presented to users as a single chain. The technology also offers token evolution and long-term decentralized management. Additional details of the update will be revealed in the coming weeks.
According to Ryan Wyatt, President of Polygon Labs, the update will contribute to the unification of the blockchain space and global democratization of the Internet. He spoke about it during a speech before a U.S. House of Representatives committee earlier this month. Wyatt stressed that blockchain can solve all value extraction problems by allowing users to control their data in the online space thanks to decentralized and transparent systems.
Polygon released a tool for identity verification in the Web3 space, Polygon ID, in March.
The company also emphasizes the importance of creating a well-regulated blockchain ecosystem in the United States, highlighting the potential benefits for users and the economy. The discussion about regulating and developing the industry became even more relevant after the Securities and Exchange Commission (SEC) filed lawsuits against the major crypto exchanges Binance and Coinbase.