Polygon has introduced its plan to section out Polygon zero-knowledge Ethereum Digital Machine (zkEVM) by 2026, marking the top of its zero-knowledge scaling efforts. It plans to concentrate on the Polygon Proof of Stake (PoS) sidechain and the AggLayer.
The founder, Sandeep Nailwal, disclosed this as we speak in a submit on X, noting that Polygon PoS will concentrate on stablecoin funds and real-world property (RWAs) whereas the AggLayer will proceed in its effort to change into a cross-chain settlement layer.
Nailwal stated:
“Polygon PoS will concentrate on Stablecoin funds and RWAs, whereas AggLayer will concentrate on constructing a trustless Web of Blockchains.”
As a part of its plans for AggLayer, Nailwal disclosed that AggLayer v0.3, which has been within the pipeline for a while, will launch on June thirtieth with improved options, signaling the group’s readiness to ship extra merchandise to the market.
He added that Polygon PoS may also see improved capability because the milestone of its Gigagas roadmap is now reside on the testnet. This improve will launch by early July and can push the community capability to 1,000 transactions per second.
Apparently, Nailwal acknowledged that that is solely a part of the a number of adjustments which have began to extend Polygon’s financial viability and can be sure that stakers of its native token, POL, additionally get extra worth
Nailwal turns into CEO of Polygon Basis
In the meantime, Nailwal additionally introduced that he would take up the CEO position for Polygon Basis, the mum or dad firm of all Polygon merchandise. In keeping with Nailwal, the transfer shifts Polygon from its decentralized governance method to a centralized mannequin vital for the mission’s evolution.
He stated:
“I’ve at all times stayed away from shifting into the CEO position as a result of I’ve been centered on constructing PF as an institutionally ruled basis. However proper now, Polygon wants clear course and centered execution, which implies stepping up.”
Regardless of the adjustments, Marc Boiron will stay as CEO of Polygon Labs, with Nailwal solely having constructive commendations for the chief. In his phrases, Boiron is the “finest govt/chief within the crypto trade.”
In the meantime, Nailwal famous that the corporate has a wholesome treasury with tons of of thousands and thousands in money. Thus, it’s well-positioned for its long-term constructing with out worrying about elevating capital.
Whereas Polygon seems to be shifting away from ZK efforts, Nailwal added that this isn’t precisely the case. As a substitute, the corporate plans to spin off its ZK tasks whereas acknowledging the position of the expertise in blockchain developments.
The deliberate spinoff subsidiary for its ZK analysis could be often known as Polygon ZisK and led by Jordi Baylina. Nevertheless, there aren’t any particular timelines for when this could launch.
POL sees an enormous surge in worth
In the meantime, the market seems to have taken to the latest developments positively, with POL value rising by greater than 6% within the final 24 hours in line with CoinMarketCap. This represents a major improve in worth for the token previously often known as MATIC.
It’s a welcome growth, given how POL has struggled thus far this yr. The token is down 50% year-to-date, making it one of many worst-performing main cap tokens this yr.
This poor efficiency was largely because of the battle to generate important exercise and compete with different Ethereum layer-2 networks corresponding to Base, Arbitrum, and Optimism. Even Nailwal acknowledged Polygon’s struggles as one of many main elements that necessitated latest adjustments.
Apparently, POL might see extra tailwinds quickly. POL has already loved some regulatory readability after the Securities and Change Fee (SEC) dropped its lawsuit over the standing of POL, which is already attracting extra market makers to the token.
Nevertheless, the Polygon Basis can be planning to begin campaigns to create consciousness so customers can know concerning the improve of MATIC to POL. If the muse is profitable with its plans, the token might see a major surge in worth earlier than the yr ends.
