Unlock the Potential of ZK-powered L2 Chains with Crypto Polygon 2.0 in 2024

Crypto Polygon 2.0

Polygon co-founder Jordi Baylina believes that 2024 will be the year when the various Ethereum layer-2 scaling networks of Polygon will be integrated into a single “Polygon 2.0” cross-chain coordination protocol.

In an exclusive interview with Cointelegraph, Baylina mentioned that the upcoming year will be a decisive one to evaluate how the different networks of the Polygon ecosystem can scale and integrate via the implementation of zero-knowledge proofs (ZK-proofs).

Baylina further highlighted that the Polygon ecosystem is composed of various tokens, sequencers, and data availability solutions. The transition to Polygon 2.0 will include several upgrades that will bind these protocols together with ZK-proof technology, resulting in an “unbounded blockspace”.

In June 2023, the scaling technology firm announced the launch of Polygon 2.0, revealing a four-layer scaling ecosystem. This ecosystem is composed of the staking, interop, execution, and proving layers, enabling fast value transfer and information sharing across different chains.

Crypto Polygon: the Year 2023

2023 has been an important year for Polygon, as Baylina reflects, with several products shipped that have added to the performance of its scaling protocol and provide the means for developers to build decentralized applications (DApps) and interoperable services.

“This has been an incredible year for Polygon; the zero-knowledge Ethereum Virtual Machine (zkEVM) was like the first big event. Also, the creation, design and announcement of Polygon 2.0 with the proof-of-stake integration and all these aggregation layers is an important milestone,” Baylina explains.

Polygon released its open-source zkEVM mainnet beta in March 2023, which delivers reduced transaction costs and increased throughput of smart contract deployments. The technology allows thousands of transactions to be batched off-chain, with cryptographic proof containing a minimal data summary posted to the Ethereum mainnet.

Polygon’s zkEVM mimics the transaction execution environment of Ethereum’s mainnet. The open-source zkEVM allows DApps to scale through transaction batching, unlocking higher performance.

Crypto Polygon: Unlocking Value with Crypto Technology

2023 has been a landmark year for Crypto Polygon, with several products shipped that have added to the performance of its scaling protocol and provided the means for developers to build decentralized applications (DApps) and interoperable services.

“This has been an incredible year for Crypto Polygon; the zero-knowledge Ethereum Virtual Machine (zkEVM) was like the first big event for crypto value. Also, the creation, design and announcement of Polygon 2.0 with the proof-of-stake integration and all these aggregation layers is an important milestone for crypto big,” Baylina explains.

Crypto Polygon released its open-source zkEVM mainnet beta in March 2023, which delivers reduced transaction costs and increased throughput of smart contract deployments. The crypto technology allows thousands of transactions to be batched off-chain, with cryptographic proof containing a minimal data summary posted to the Ethereum mainnet.

Crypto Polygon’s zkEVM mimics the transaction execution environment of Ethereum’s mainnet. The open-source zkEVM allows DApps to scale through transaction batching, unlocking higher performance and unlocking the potential of about ai technology.

Crypto Polygon and Its Benefits

In September 2023, the release of Polygon’s chain development kit (CDK) triggered a revolution in the crypto ecosystem by allowing developers to launch custom ZK-powered layer-2 protocols on Ethereum. Cointelegraph spoke to Baylina about the introduction of the service, which provides developers with on-demand scale and liquidity across all of Polygon’s chains and the broader Ethereum ecosystem.

Baylina referred to Polygon as a “constellation with a single star being the zkEVM.” The switch from Polygon’s proof-of-stake to a zkEVM validium will expedite the scaling of the network and enable interconnected protocols within the crypto ecosystem.

The complexity of the transition is evident, as Baylina explains: “It is complex. It’s not an easy task. Polygon is a decentralized system. So first, there needs to be a consensus for the switch. Then comes moving all the bridges, continuing the network, and giving continuity to all these applications. This is challenging.”

In September 2023, Polygon released three Polygon improvement proposals (PIP) to transition and specify its (MATIC) tokens into POL tokens, which will be the native crypto.com token for the Polygon proof-of-stake protocol. PIP-17 will initiate the upgrade from MATIC to POL, including its transition to POL as the native gas token and staking token for the Polygon ecosystem, as well as launching the staking layer and migration of Polygon public chains.

The crypto value of Polygon is big in the crypto world and its technology is about ai technology. Crypto.com token, crypto big, and big for crypto are all related to the crypto technology that Polygon and its POL tokens provide.