Polygon Labs Plans to Launch Polygon 2.0

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Polygon Labs Plans to Launch Polygon 2.0

Polygon Labs plans to launch Polygon 2.0, which aims to become the “value layer of the Internet.” Polygon 2.0 will have a fundamentally different architecture that makes it easier to create new chains in the Polygon ecosystem and improve interoperability between those chains. Polygon 2.0 will feature a shared bridge, which will eliminate the need for wrapped tokens, and integrate zero-knowledge (ZK) proofs to improve user privacy.

What is Polygon?

Polygon is a layer two scaling solution for Ethereum that allows users to move assets off their native blockchain, like Wrapped Bitcoin (WBTC), onto other networks such as Ethereum and Tron.

How Will Polygon 2.0 Improve Interoperability?

Polygon 2.0 will improve interoperability by introducing a shared bridge that eliminates the need for wrapped tokens. Native Ethereum tokens can be deposited into a single contract on Ethereum mainnet, and corresponding assets will be mapped to the tokens. This will enable users to use their tokens across different Polygon chains easily, making transactions more seamless.

What are Zero-knowledge (ZK) Proofs?

Zero-knowledge (ZK) proofs are a type of cryptography that enables parties to prove that they know something without revealing the information directly. In Polygon 2.0, ZK proofs will be used to improve privacy for users. When using online services, personal identifying information is required to access them. Using a ZK proof, a party must prove they know what is in a transaction without revealing the known information directly in order for it to be verified.

What is the Vision Behind Polygon 2.0?

Polygon co-founder Mihailo Bjelic said the vision behind the upgrades is to fill in “the missing piece of an Internet” and contribute to a “digital economy that serves everyone.” The aim of Polygon 2.0 is to create the Value Layer of the Internet, which will allow anyone to create, exchange, and program value. These changes echo in part suggestions from Ethereum co-founder Vitalik Buterin, who said Ethereum’s future would hinge on adaptations to greater privacy, increased use of L2 scaling solutions, and a move to smart contract wallets.

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