Polygon Announces Revolutionary Update

On June 12, the official Polygon blog posted an article about the upcoming major update to Polygon 2.0. The new version of the protocol is called "the Value Layer of the Internet". Due to such exciting news, MATIC rose almost 2% to $0.64.

According to the press release, Polygon Labs wants to create an analogue of the Ethereum network (ETH). In Polygon 2.0 the sidechain will consist of many subnets, united by a cross-chain coordination protocol. However, user experience won’t change – for us it will still look like a single platform.  

With this new solution, developers are hoping to achieve "unlimited scalability and unified liquidity." Basically, Polygon 2.0 is a collection of different updates aimed at creating a “value layer”. The press release says that this is a rethinking of the entire Polygon concept. All the details about Polygon 2.0 should be revealed by July. 

The announcement of the new version of the Polygon sidechain came just a week after the US Securities and Exchange Commission (SEC) declared Polygon's native token MATIC security. However, the development of Polygon 2.0 has been going on since 2022, so probably it has nothing to do with the SEC actions.