Polygon 2.0 is a major upgrade to the Polygon ecosystem that aims to make it more scalable, secure, and sustainable. It is a network of interconnected zero-knowledge-powered layer-2 chains that scale Ethereum.
One of the key changes in Polygon 2.0 is the switch from the MATIC token to the POL token. The POL token will become the native gas and staking asset of the Polygon ecosystem.
There are several reasons for this change:
POL is a more efficient gas token. It is designed to be more efficient than MATIC, which will lead to lower fees for users.
POL is more secure. It uses a more secure cryptographic algorithm than MATIC, which will make it more resistant to attack.
POL is more sustainable. It has a lower inflation rate than MATIC, which will make it more sustainable in the long term.
In addition to the switch to POL, Polygon 2.0 also includes a number of other upgrades, such as:
A new staking layer. This will allow users to stake their POL tokens to secure the network and earn rewards.
A more efficient bridge. This will make it easier and faster to move assets between Polygon and Ethereum.
Support for more programming languages. This will make it easier for developers to build on Polygon.
Overall, Polygon 2.0 is a significant upgrade that will make the Polygon ecosystem more scalable, secure, and sustainable. It is expected to be released in Q4 2023, subject to community endorsement.
Why it changed from $MATIC to $POL
Polygon Labs, the team behind Polygon, has stated that the change from MATIC to POL is necessary to achieve the following goals:
To make the Polygon ecosystem more scalable, secure, and sustainable.
To create a more unified and cohesive ecosystem.
To make it easier for users and developers to interact with Polygon.
Polygon Labs has also stated that the change to POL will be a seamless transition for users and developers. All MATIC tokens will be automatically converted to POL tokens at a 1:1 ratio.
When will the change from $MATIC to $POL happen?
The change from MATIC to POL is expected to happen in Q4 2023, subject to community endorsement. Polygon Labs will release more information about the transition closer to the date.