Recognized By TIME For Revolutionizing Blockchain And Beyond

Recognized By TIME For Revolutionizing Blockchain And Beyond
By: Bitcoin Max Posted: June 23, 2023

Polygon Labs has recently announced the thrilling revelation that it has been featured in TIME’s compilation of the 100 Most Influential Companies of 2023. TIME, well-known for its annual “TIME 100” roster, which showcases the individuals with significant impact on a global scale, has broadened its focus to encompass companies that are making notable advancements in diverse industries.

In the latest iteration of the list, Polygon has secured its position among distinguished entities, further solidifying its role as a transformative power within the realm of digital assets. This recognition stands as a testament to this blockchain platform’s remarkable growth and its profound influence on the blockchain industry.

Over the course of the past 18 months, P-Labs has accomplished significant milestones. They have introduced the swiftest ZK proving system in the field and launched the sole EVM-equivalent zkEVM on the mainnet. Just last week, they unveiled Polygon 2.0(P-2.0), a visionary concept that aims to achieve unlimited scalability and unified liquidity through the implementation of ZK technology. This major development represents a substantial leap forward for the their ecosystem. A central aspect of the P-2.0 vision is the aspiration for every chain to function as a ZK L2 solution.

Polygon Charts a New Course with Proposal for POS Upgrade

They have recently disclosed the publication of a proposal aiming to upgrade Polygon Proof-of-Stake (PoS) to a pioneering and decentralized ZK Layer 2 known as zkEVM Validium. This significant development marks a crucial milestone for the their ecosystem, as it would facilitate the integration of PoS as an integral component of the Polygon 2.0 ecosystem.

By transforming into a zkEVM Validium, P-Proof-of-Stake (PoS) would gain the exceptional security of Ethereum while retaining its advantageous features of low fees and extensive scalability. Should the proposal receive approval, the migration of Polygon PoS, along with its $2 billion worth of assets, millions of users, and thousands of applications, to this advanced technology is anticipated. The upgrade is projected to go live on the mainnet by the conclusion of Q1, 2024.

Currently, MATIC is being traded at $0.6973, indicating a daily surge of 7.88%. Throughout the week, the asset has experienced a notable increase of 13.10%.

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