Polygon 2.0 Coming Soon, Polygon Labs Launches POL Token On Ethereum Network

Polygon MATIC crypto assets. (Photo; Doc. MtPelerin)

Polygon Labs, a Polygon network developer who is the Layer 2 solution for Ethereum, announced the launch of a POL token on the Ethereum (ETH) mainnet. The POL token will replace the MATIC token which is currently being used as fuel for the Polygon network.

The POL token will be key in the transition to Polygon 2.0, which is the evolution of the existing Polygon network. Polygon 2.0 will increase network productivity and capability by supporting various Layer 2 solutions based on zero knowledge (zero-knowledge rollup).

Zero knowledge is a technology that allows transaction verification without disclosing personal data. By using a special staking protocol, POL token holders can verify several Layer 2 solutions and participate in various functions in each of these solutions.

The launch of the POL token will not affect the operations of the Polygon proof of stake (PoS) network or the Polygon zero-knowledge network based on the Ethereum Virtual Machine (EVM), which will continue as planned.

The Polygon Labs team said that the POL token will help achieve the goals of Polygon 2.0, which is launching a new staking layer to support the Layer 2 Polygon solution, increasing PoS Polygon to zkRollup, and implementing interoperability and cross-liquidity of Layer 2 solutions supported by zero knowledge.

Pada Juni lalu, Polygon Labs telah memperkenalkan rencana perbaikan Polygon 2.0, yang akan menjadikan jaringan ini sebagai "Lapisan Nilai Internet." Rencana ini bertujuan untuk meningkatkan keamanan, scalability, dan dukungan ekosistem jaringan Polygon melalui token POL.

Meanwhile, the MATIC token, which is the original token of the Polygon 2 Layer network, experienced a price drop of around 5% in the last 24 hours, to around US$0.63223. This decline occurred amid fluctuating crypto market conditions. In contrast to Bitcoin, which managed to reach its highest price level recently, due to optimism about the possible Exchange-Trad Fund (ETF) agreement by the United States Securities and Exchange Commission (SEC).