Polygon

<p>Polygon Labs, a pioneering force in the blockchain sphere, has rolled out its much-anticipated POL token upgrade on the Ethereum mainnet, marking a significant milestone in their journey towards Polygon 2.0. The upgrade, which officially launched on October 25th, is the culmination of months of meticulous development, extensive community engagement, and a highly successful testnet trial.</p><h2 id="header-0">POL Token – The Stepping Stone to the Future</h2><p>It’s important to <a href="https://polygon.technology/blog/polygon-2-0-milestone-pol-contracts-are-live-on-ethereum-mainnet" rel="noopener noreferrer nofollow">note</a> that while the POL token now graces the Ethereum mainnet, it won’t be an instant replacement for MATIC. The transition necessitates a series of governance procedures, carefully synchronized with the impending launch of <a href="https://cryptosnewss.com/polygon-2-0-revolutionizing-blockchain-with-new-milestones/" rel="noopener noreferrer nofollow">Polygon 2.0</a>.</p><p>The POL upgrade is more than just a token enhancement; it serves as a foundational building block for the ambitious objectives outlined in the Polygon 2.0 roadmap. As per their official statement, POL is a “next-generation hyperproductive token” poised to energize a thriving ecosystem of zero knowledge-based Layer 2 chains. This is made possible through a native re-staking protocol, enabling POL holders to validate multiple chains and undertake various pivotal roles across them, including sequencing, ZK proof generation, and participation in data availability committees.</p><h2 id="header-1">An Ecosystem Evolution</h2><p>This upgrade introduces a staking layer, reinforcing support for Polygon Layer 2 solutions, and advances Polygon PoS to zkRollup technology. In addition, it ushers in ZK-powered interoperability and a shared liquidity protocol for all Layer 2 solutions, marking a significant step towards a more interconnected blockchain ecosystem.</p><h2 id="header-2">Maintaining System Integrity</h2><p>Despite this major upgrade, Polygon Labs has been keen to ensure that active systems on both Polygon PoS and Polygon zkEVM networks remain unaffected. All existing contracts will continue to operate as originally designed, ensuring a seamless transition for the network’s users.</p><h2 id="header-3">Polygon 2.0 Vision</h2><p>Polygon Labs set the stage for their ambitious vision of Polygon 2.0 back in June 2023. This vision encompassed four distinct protocol layers: staking, interop, execution, and proving. This ecosystem is designed to facilitate rapid value transfer and seamless information exchange through the implementation of cutting-edge zero-knowledge technology.</p><p>_______________________________________________________________________________________</p><p>Stay connected with us on <strong><a href="https://news.google.com/publications/CAAqBwgKMLrrowwwzOOyBA" rel="noopener noreferrer nofollow">Google News</a></strong>, <strong><a href="https://t.me/cryptosnewsss" rel="noopener noreferrer nofollow">Telegram</a></strong>, <a href="https://twitter.com/NewssCryptos" rel="noopener noreferrer nofollow">Twitter</a>, and <strong><a href="https://www.facebook.com/profile.php?id&#61;100089949049302" rel="noopener noreferrer nofollow">Facebook</a> </strong>to stay updated on the latest developments and engaging discussions in the realm of CryptosNewss.</p><p><em><strong>Disclaimer:</strong> Please note that the viewpoints and perspectives expressed by the author, as well as any individuals referenced in this article, are intended solely for informational purposes. They should not be construed as financial or investment advice. It’s important to acknowledge that investing in or trading cryptoassets carries inherent financial risks.</em></p><p><em>Originally published at <a href="https://cryptosnewss.com/polygons-pol-token-upgrade-a-giant-leap-towards-polygon-2-0/" rel="noopener noreferrer nofollow">https://cryptosnewss.com</a> on October 26, 2023.</em></p>

Polygon’s POL Token Upgrade: A Giant Leap Towards Polygon 2.0

Table of Contents

Cryptos Newss

Other articles published on Oct 26, 2023

Hong Kong Changes Course on Spot-Crypto and ETF Investment, but There’s a Twist

Conio to support EVM-based blockchains on crypto custody solution

Chainlink (LINK) Price Prediction: November 2023

Bitcoin Dominance Holds Strong at 48.51% Amidst Market Surge

Bitcoin and Solana are at the forefront of the cryptocurrency bull market.

FOMO Fever: Bitcoin (BTC) Leads the Price Surge, Ripple (XRP), Cardano (ADA) Follow – Too Late to...

Join our free newsletter for daily crypto updates!