Polygon 2.0 Advances: POL Contracts Now Operational on Ethereum Mainnet
Introducing the activation of POL contracts on the Ethereum mainnet.
The latest development in the Polygon 2.0 roadmap is the activation of POL contracts on the Ethereum mainnet, marking a significant step towards realizing the project's goal of creating a Value Layer on the Internet. This transition comes after a period of meticulous development, community engagement, and a successful testnet launch.
POL is identified as a next-generation token designed to support a broad ecosystem of zero knowledge-based Layer 2 chains through a native re-staking protocol. This protocol enables POL holders to validate multiple chains and undertake various roles on each chain, including sequencing, ZK proof generation, and participation in data availability committees.
The activation of POL contracts is a precursor to several upcoming milestones outlined in the Polygon 2.0 roadmap. Among these are the introduction of a new staking layer to support Polygon L2s, the enhancement of Polygon PoS to zkRollup, and the establishment of a ZK-powered interoperability and shared liquidity protocol for all these L2s.
What Is Polygon 2.0?
Polygon 2.0 is a plan by Polygon Labs to create a new layer on the internet called the "Value Layer." This layer will work like the internet but for exchanging value, like money, instead of information. The idea is to make dealing with money online easy, secure, and open to everyone, just like sharing information on the internet.
Polygon 2.0 will use a new setup to get rid of issues like slow transactions and high fees, which are problems on other blockchain networks. It's like “upgrading from a single-lane road to a superhighway,” making it faster and easier for everyone to send, receive, and work with money online.