Polygon Labs Release Polygon 2.0 Phase 0 Proposals For Community Feedback

Polygon 2.0 represents a complete overhaul of their existing scaling protocol, and The Polygon Improvement Proposals (PIPs) have been released to the community to evaluate and prepare for the upcoming upgrade. Of the two PIPs unveiled, PIP-17 covers information on the asset upgrade leading to the new POL token, and PIP-19 details making POL the blockchain’s native asset. When it is all said and done, the native asset POL will be poised to increase the scalability, security and sustainability of the Polygon network.

The audience showed prominent interest when the Chain Development Kit (CDK) was announced, through which developers would be able to launch a zkEVM Layer 2 chain in under ten minutes. Especially notable amongst them was Astar Network from Japan embracing the Polygon ecosystem, in an effort to deploy a zkEVMT Layer 2 chain utilizing the convenient CDK.

The new version of the scaling protocol is set to revolutionize Polygon as it brings about substantial changes to the assigned governance structure. The network will effectively become easier to administer, in line with the community members’ voices being taken more into account in direction-setting debates.

Through the suite of introduced improvements, POL tokens being set to replace MATIC Beans and its fixed supply, deploying a zkEVM Chain whose transactiability equates faster electricity consumption compared to its predecessor, and being endowed with variable supply providing more growth room over time; Polygon stand in a position to make a quantum advancement.

Robert Wilson author
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