Polygon POL Token İs Emerging: A New Era Begins

In the ever-evolving world of blockchain technology, Polygon is making waves with its latest network upgrade. As part of its transition to Polygon 2.0, the founding team has proposed an upgraded token called POL, set to replace the existing MATIC token. This move signifies a new era for Polygon, as it seeks to redefine its system’s architecture and enhance its network capabilities.

Polygon POL Token İs Emerging: A New Era Begins

The new POL token is being hailed as a “3rd generation token,” following in the footsteps of Bitcoin and Ethereum. The POL token will not only serve as a medium of exchange within the Polygon network but will also allow its holders to become validators.

This means that POL holders will have the power to validate transactions across the numerous chains and networks that Polygon is continually creating. The introduction of POL is a significant upgrade from the MATIC token, which will be deprecated as part of the transition.

The Transition from MATIC to POL

The transition from MATIC to POL is expected to be a straightforward process. Token holders will simply need to send their MATIC tokens to the upgrade smart contract, which will automatically return the equivalent amount of POL.

The Polygon team has assured that token holders will be given ample time to upgrade, potentially over a period of four years or more. If the community consensus supports this proposal, the migration could start within months.

Polygon 2.0: The Value Layer of the Internet

The launch of POL is part of Polygon’s broader vision to become the “value layer of the Internet.” The Polygon 2.0 upgrade aims to create a more seamless and efficient system for creating new Polygon chains. This vision, first laid out last month, paints a picture of multiple Polygon-based chains, bridges, and the integration of privacy-enhancing zero-knowledge (ZK) proofs.
As Polygon co-founder Mihailo Bjelic stated, “In the same way that the Internet allows anyone to create and exchange information, the Value Layer will allow anyone to create, exchange, and program value.”