Polygon, an Ethereum sidechain, has announced plans to build Polygon 2.0, a network based on zero-knowledge-powered layer-2 solutions, per an update on June 12. While this platform could boost liquidity, it hasn’t helped MATIC prices. The coin is at around 2023 lows after cracks emerged on June 5.

What Is Polygon 2.0?

Polygon’s official statement reads, “Polygon 2.0 is a network of ZK-powered layer-2 chains unified via a novel cross-chain coordination protocol. The entire network will feel like using a single chain for a user.”

The primary objective behind building Polygon 2.0 is to enable secure and instantaneous cross-chain interoperability among off-chain networks, most of which are built on Ethereum, the world’s largest smart contract platform.

Polygon 2.0 aims to facilitate seamless and secure cross-chain interactions while eliminating the need for additional trust assumptions due to the zero-knowledge design concept. The team explained that the platform is the foundational infrastructure, which, when fully developed, would become “the value layer of the internet.”

The Ethereum sidechain said creating more chains to solve the scalability problem could further boost capacity. Even so, they acknowledged that with more solutions, there could be instances of fragmented liquidity that could additionally affect capital efficiency.

For these reasons, they intend to model blockchains like Cosmos and Polkadot to build an independent network of interconnected layer-2 ZK-based networks.

With Polygon 2.0, the scaling platform is expanding and even building on its software stack, SuperNets, through which it has partnered with projects such as Immutable and Aavegotchi. SuperNets is a blockchain network built on top of Polygon designed to be scalable and customizable and meant for projects wishing to scale without sacrificing decentralization or security.

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Author: Dalmas Ngetich

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