A Comprehensive Guide to Polygon 2.0: Understanding 3 PIPs and Phase 0

A Comprehensive Guide to Polygon 2.0: Understanding 3 PIPs and Phase 0

Polygon 2.0 Unveils Roadmap for an Interconnected Ethereum Ecosystem

Polygon is making significant strides towards creating a connected layer-2 Ethereum ecosystem using zero-knowledge technology with the release of its Polygon 2.0 roadmap. Polygon Labs, the organization behind this scaling solution, has introduced three Polygon Improvement Proposals (PIPs) to kickstart the implementation process. However, community endorsement is crucial for these proposals, and if received, implementation will begin as early as Q4 of this year.

The Proposals for Polygon 2.0

In a blog post, Polygon Labs outlined the three PIPs that form the comprehensive roadmap for Phase 0 of Polygon 2.0. The primary goal is to establish an interconnected network of zero-knowledge-powered layer-2 chains. PIP 17 focuses on transforming MATIC into the upgraded native token POL, which will be used in conjunction with accompanying contracts. The proposal also includes initial configurations for emission management and token migration.

PIP 18 proposes critical components such as initiating the POL upgrade, transitioning from MATIC to POL as the native token for Polygon PoS, adopting POL as the staking token, and launching the Staking Layer. This proposal also involves migrating Polygon’s public chains to leverage this new layer.

Smooth Transition

PIP 19 aims to upgrade the native gas token on Polygon POS by replacing MATIC with POL while ensuring backward compatibility. This primarily involves upgrading the native MATIC Bridge Contract to support the transition from MATIC to POL as the backed token on Polygon PoS.

It’s important to note that this transition will not impact existing contracts or functionalities of Polygon PoS’s native token. However, contracts on the Ethereum side relying on MATIC from the native MATIC Bridge may be affected. The overall objective is to smoothly shift to POL as the native gas token on Polygon POS while minimizing disruptions.

Hot Take: Polygon 2.0 Paves the Way for an Interconnected Ethereum Ecosystem

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Polygon’s commitment to building an interconnected layer-2 Ethereum ecosystem through zero-knowledge technology is evident in the release of its Polygon 2.0 roadmap. With the introduction of three Polygon Improvement Proposals, Polygon Labs aims to establish a network of zero-knowledge-powered layer-2 chains that expand Ethereum blockspace and create the Value Layer of the Internet. This vision of seamless interoperability and infinite scalability is a significant step towards unlocking the full potential of decentralized applications on the Ethereum network.

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