Polygon Labs is moving ahead with plans to reinvent its entire architecture as part of its goal to become the “value layer of the Internet.”
Polygon 2.0 will have a fundamentally different architecture that makes it easier and more seamless to spin up new chains in the Polygon ecosystem. Polygon itself is an Ethereum layer two. It was designed to address some of Ethereum’s limitations through a sidechain solution.
As its upgrade seeks to make it easier to create new Polygon chains, it will also feature a shared bridge to improve interoperability between those chains and eliminate the need for wrapped tokens. A wrapped token, like Wrapped Bitcoin (WBTC), allows users to move assets off their native blockchain. In this case, WBTC allows users to move their Bitcoin onto the Ethereum and Tron networks.
The way that’ll work on Polygon 2.0, native Ethereum tokens will be deposited into a single contract on Ethereum mainnet. When a user wants to use their tokens across different Polygon chains, the corresponding assets will be mapped to the tokens deposited on Ethereum, which Polygon says will eliminate the need for wrapping them and improve user experience.
“The coordination layer allows us to optimistically confirm cross-chain transactions in a way that’s safe and nearly instant,” said Polygon co-founder Brendan Farmer. “It’s the first multi-chain design that will truly deliver unified liquidity.”
As a further step, Polygon says it will integrate zero-knowledge (ZK) proofs
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Author: Nicholas Morgan
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