Polygon 2.0 – MATIC conversion to POL outlined in preliminary improvement proposals

Polygon Labs vision of an interconnected layer 2 Ethereum ecosystem powered by zero-knowledge cryptography starts in earnest following three inaugural enhancement propositions that will start the shift to Polygon 2.0. The scaling innovation firm unveiled Polygon 2.0 in June 2023, describing prepare for a scaling ecosystem comprised of four procedure layers. The staking, interop, execution and proving layers all contribute in producing an interconnected ecosystem of chains that make it possible for fast value transfer and information sharing.1/ The wait is over. Polygon 2.0 application starts now with the release of 3 Polygon Improvement Proposals (PIPs), and a roadmap for Phase 0. https://t.co/gk7FW0zCpc pic.twitter.com/YJo3BtQy4y— Polygon (Labs) (@ 0xPolygonLabs) September 14, 2023

Polygon co-founder Sandeep Nailwal recently unloaded how the environment intends to end up being the value layer of the web by using zero-knowledge technology to offer low cost, high throughput efficiency to the larger Ethereum ecosystem.Polygon released three Polygon Improvement Proposals (PIPs) on Sept. 14 for community factor to consider and ballot that are earmarked to begin taking location in the final quarter of 2023. This includes its transition to POL as the native gas token and staking token for the Polygon community, as well as the launch of the staking layer and migration of Polygon public chains.PIP-18 includes the technical description of POL tokens as well as accompanying contracts that will handle emission and token migrations. Polygons announcement notes that PIP-19 will not change agreements on Polygon PoS while the homes of the protocols native token will not alter either.