Is Polygon 2.0’s Transition to Interconnected ZK-Powered Layer-2 Chains? ⛓️
#Polygon Labs has introduced three Polygon Improvement Proposals (PIPs) to kickstart the transition to Polygon 2.0, a layer-2 Ethereum ecosystem powered by zero-knowledge cryptography.
These PIPs set the stage for "Phase 0" of creating an interconnected network of ZK-powered layer-2 chains that enhance Ethereum scalability. PIP-17 outlines the transition of MATIC tokens to POL tokens, serving as the native gas and staking token for Polygon.
PIP-18 provides technical details about POL tokens, including supply and emission mechanisms. Lastly, PIP-19 proposes switching the native gas token from MATIC to #POL on Polygon PoS, ensuring maximum backward compatibility.
These developments aim to boost Polygon's role as the value layer of the internet, offering low-fee, high-throughput performance to the #Ethereum ecosystem. Community consideration and voting on these proposals are expected in Q4 2023.
