- Ethereum Layer 2 scaling solution Polygon presented its latest architecture, tackling scalability and liquidity concerns.
- Polygon co-founder Sandeep Nailwal said the project offers unlimited scalability to the Polygon blockchain through its new architecture.
- Polygon network has continued building on the technology front despite the SEC’s crackdown on Layer 2 token MATIC.
Ethereum network’s largest scaling solution Polygon is developing updates despite the Securities and Exchange Commission’s (SEC) crackdown on MATIC. The SEC labeled MATIC as a “security,” resulting in a delisting of the token on crypto exchanges.
Polygon network continued growing and developing its blockchain, introducing the architecture for the 2.0 protocol.
Also read: Ethereum's Vitalik Buterin supports tokens hit by SEC crackdown
Polygon releases 2.0 architecture that maximizes scalability for the blockchain
Polygon Labs’ engineering team, the developers behind the Ethereum Layer 2 blockchain, released a proposed architecture for its 2.0 version. The architecture is designed to provide unlimited scalability and liquidity, turning Polygon into a Value Layer of the Internet.
In its older blog posts, Polygon has explained its vision for building a fundamental protocol that allows anyone to create, exchange and program value on its blockchain, thus the name Value Layer.
The biggest challenge facing Web3 protocols and their development is scalability. While new chains keep meeting growing Web3 demands, the fragmented liquidity and poor user experience make it less suited for market participants.
Polygon’s vision is to unify the liquidity and help Web3 scale, while providing value to users. Sandeep Nailwal, co-founder of Polygon explains how the Ethereum scaling solution plans its next steps in his tweet early on Friday:
Polygon 2.0 architecture is finally revealed.
— Sandeep Nailwal | sandeep. polygon (@sandeepnailwal) June 29, 2023
The architecture for the Value layer of Internet: Unlimited Scalability, Unified Liquidity.
Unlimited Scalability - Using ZK Powered L2 Chains
Unified Liquidity - Using novel Interop layer proposed in the architecture
Read the… pic.twitter.com/GOOLu7OAVK
Polygon’s continued development, despite the hurdles associated with the SEC’s crackdown on native token MATIC, could catalyze its recovery in the long term. At the time of writing, MATIC is trading at $0.6405 on Binance.
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