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Polygon (MATIC) announces a potential game-changing update!

  • Polygon (MATIC), the Ethereum scaling solution, will announce plans for its 2.0 version in the coming weeks.
  • In a blog post published on Monday, Polygon will address topics such as the future of the Polygon PoS chain, the use and evolution of the Polygon token, and the transition of the protocol and treasury to more community management.
  • Following legal cases, the MATIC price has experienced a total drop of 43%. Although it has slightly recovered, it is still 28% lower than its price before the cases.

Polygon (MATIC), targeted by the SEC, seems to have regained the trust of the community with its recent announcement.

Polygon is Preparing for a New Update

Polygon (MATIC)

Polygon (MATIC), the Ethereum scaling solution, will announce plans for its 2.0 version in the coming weeks. In a blog post published on Monday, Polygon will address topics such as the future of the Polygon PoS chain, the use and evolution of the Polygon token, and the transition of the protocol and treasury to more community management.

The protocol states that Polygon 2.0 has a vision of creating the “value layer of the internet” and will enable things like decentralized finance, digital ownership, and new tools for coordination.

As part of this, Polygon 2.0 will be a network of zero-knowledge (ZK) layer 2 chains that can communicate with each other. The blog post also shares that the network will feel like a single blockchain to users.

Currently, the only Polygon chain that includes ZK technology is the Polygon zkEVM Beta, which was launched in March and uses zero-knowledge proofs to scale blockchains and reduce transaction fees.

Although the Polygon PoS chain, which is the main chain of Polygon, is not currently ZK-compatible, Polygon has previously stated that it is exploring the possibility of using ZK technology on its main chain.

An announcement about how Polygon plans to address the Polygon PoS chain will be made next week. After that, Polygon will make a series of announcements about the architecture, token, and management of the blockchain over the next four weeks.

Polygon Targeted by the SEC

Last week, the SEC alleged that many cryptocurrencies, including Polygon (MATIC), were securities when it filed lawsuits against Coinbase and Binance. As a result, the price of many cryptocurrencies dropped sharply, including MATIC, which experienced a total drop of 43%. Although it has slightly recovered, it is still 28% lower than its price before the cases.

Meanwhile, US financial services company Robinhood announced that it will delist MATIC, ADA, and SOL from its trading platform. Despite this, Polygon’s 2.0 announcement has given the community some hope and shown that the team is not giving up.

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Lucien Renard
Lucien Renardhttps://en.coinotag.com/
Lucien Renard is a 24-year-old writer specializing in cryptocurrency analysis and price action. With a focus on technical analysis, Lucien provides valuable insights into market trends and potential opportunities for investors.
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