Polygon taps internet's value layer with 2.0 upgrade as eToro makes life-changing decision for MATIC holders

Polygon Labs, the network behind MATIC crypto, has revealed a new suite of upgrades expected to establish the "Value Layer" of the internet. According to the company, users will henceforth be able "to create, exchange, and program value."

Also Read: How Polygon zkEVM growth could act as a catalyst for MATIC price

Polygon 2.0 ushers the network into the value layer of the internet

Polygon network has unleashed a new upgrade dubbed 2.0, expected to enable users to create, exchange, and program value on the internet.

The news comes after a recent announcement from the ecosystem, which defined Polygon 2.0 as upgrades with the potential to revolutionize almost every aspect of Polygon drastically, from its protocol design to the tokenomics and even governance.

The upgrade sets the network up for interconnectivity with chains powered by ZK technology. This is a cryptographic technique where one team (prover) has to give evidence of a statement's validity to another party (verifier).

The network can support a practically unlimited number of chains, and cross-chain interactions can happen safely and instantly without additional security or trust assumptions. Unlimited scalability and unified liquidity.

The upgrade also ensures that users track how the network will transition into the Value Layer, where it would offer endless scalability and unified liquidity through ZK [zero-knowledge] technology.

This means that Polygon 2.0 brings protocols together, delivering an easy user experience across zk-Ethereum Virtual Machine (zkETH) technology, among other technologies such as Proof-of-Stake (PoS) and Supernets. Such a move would make the user believe they were using a similar chain.

Polygon's MATIC among tokens to lose positions on MATIC

Polygon (MATIC) is among the tokens the US Securities and Exchange Commission deemed a security. The label has inspired crypto entities to delist every asset mentioned, including Solana (SOL) and Cardano (ADA).

Among the entities that have been proactive in delisting Polygon is the eToro exchange. According to a recent announcement, the network articulated to customers that they would not be able to open new positions in Algorand (ALGO), Decentraland (MANA), and Dash (DASH) starting July 12.  

Nevertheless, the network committed to supporting the regulator, saying, and asserting that plans were underway to identify and isolate the assets offered based on the guidelines stipulated by the regulator.

Notably, this change comes in the wake of the regulator's recent charge against two of the largest cryptocurrency exchanges in the world, Binance and Coinbase. For the former, the SEC cited Binance for securities laws violation alongside a list of 13 other charges. As reported, the company and its CEO Changpeng Zhao have brought in the big guns in their defense, led by George Canellos, one of the most decorated criminal defense attorneys in the US specializing in digital assets.