Polygon Officially Introduced Proposals
Polygon, the Ethereum scaling project, has officially introduced proposals for its forthcoming Polygon 2.0 upgrade. Polygon 2.0, initially introduced in June, is a strategic initiative aimed at establishing a comprehensive network of interconnected Layer 2 chains underpinned by zero-knowledge proofs.
Polygon Labs has released three Polygon Improvement Proposals (PIPs), offering a detailed roadmap for the transition, specifications for the enhanced Polygon 2.0 architecture, and updates concerning its native token. Community feedback on these proposals is actively encouraged, with final implementation contingent on approval through a governance vote. The anticipated completion date for the Polygon 2.0 upgrade is set for the next year.
Three Proposals in Detail
- PIP-17 – Phase 0: This proposal primarily focuses on the initial phase of Polygon 2.0. One of its core objectives is to ensure that end-users and developers on the existing Polygon PoS and Polygon zkEVM chains will not be required to take any specific actions during the upgrade.
- PIP-18 – POL Token Implementation: The second proposal, PIP-18, outlines the introduction of the POL token, which is intended to supersede the existing MATIC token as the native gas and staking asset within the Polygon ecosystem.
- PIP-19 – Native Gas Token Upgrade: PIP-19 pertains to the transition from MATIC to POL as the native gas token on Polygon PoS. This transition is designed to maximize backward compatibility, ensuring that the shift to the new POL token does not disrupt smart contracts on Polygon PoS in terms of compatibility. The goal is to maintain the code properties of the upgraded POL token identical to its predecessor.
These proposals represent a significant step towards Polygon’s vision of enhancing scalability and interoperability on the Ethereum network. The introduction of the POL token is expected to play a pivotal role in the ecosystem’s evolution, simplifying transaction processes and promoting efficient utilization of resources within the Polygon network. Community engagement and input will be instrumental in shaping the future of Polygon 2.0, with the final upgrade expected to bring substantial improvements to the Ethereum scaling solution.
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