Crypto Updates

Polygon 2.0 Roll Out Begins, Is MATIC Set For A Major Surge?

Polygon MATIC

Polygon Labs announced today the roll out of their ambitious Polygon 2.0 implementation. The announcement, made via a tweet, marks the release of three pivotal Polygon Improvement Proposals (PIPs) and a detailed roadmap for phase 0. “The wait is over. Polygon 2.0 implementation kicks off now,” the tweet reads, signaling the beginning of a new era for the platform.

Earlier this summer, Polygon Labs had unveiled their vision for Polygon 2.0, a roadmap that aims to scale Ethereum blockspace to create what they term as the “Value Layer of the Internet.” This transformative vision promises unlimited scalability and unified liquidity. To bring this vision to fruition, a series of upgrades to the Polygon protocol architecture are imperative. Phase 0, announced today, is the first step in this direction.

Phase 0 focuses on four main upgrades to the protocol:

  1. The transition from MATIC to POL.
  2. Establishing POL as the native (gas) token for PoS.
  3. Designating POL as the staking token for PoS.
  4. The introduction of the Staking Layer, a feature that will empower validators to secure a diverse range of chains within the evolving Polygon 2.0 ecosystem.

What Phase 0 Of Polygon 2.0 Brings

Polygon Labs has indicated that if the community endorses these proposals, the implementation could begin as early as the fourth quarter of this year. It’s noteworthy that the changes detailed in the first three PIPs are designed to be seamless, ensuring no disruptions for end-users at this stage.

An official blog post, also released today, provides deeper insights into the transformative journey of Polygon 2.0, which was first introduced to the public in June. This set of proposed enhancements seeks to revolutionize nearly every facet of the Polygon ecosystem. The three PIPs released today offer a comprehensive blueprint for phase 0. Their goal is to construct a network of interconnected zero-knowledge-powered L2 chains, effectively scaling Ethereum to the vast expanse of the Internet.

Central to these PIPs is the transition process, the specifications for the revamped token of the Polygon 2.0 architecture, and crucial updates to the Polygon PoS native token.

PIP-18, titled “Polygon 2.0 Phase 0,” offers a comprehensive overview of the initial phase, detailing the upgrades that will be further elaborated upon in subsequent PIPs. The milestones of phase 0 are crafted with the user in mind, ensuring minimal disruptions for those already…

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