COINTURK NEWSCOINTURK NEWSCOINTURK NEWS
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Search
© 2024 COINTURK NEWS. All Rights Reserved.
Reading: Polygon Labs Launches Ethereum Contract for POL Token: What is Polygon 2.0?
Share
Languages
  • TürkçeTürkçe
  • EspañolEspañol
Font ResizerAa
COINTURK NEWSCOINTURK NEWS
Font ResizerAa
Search
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
COINTURK NEWS > Polygon (MATIC) > Polygon Labs Launches Ethereum Contract for POL Token: What is Polygon 2.0?
Polygon (MATIC)

Polygon Labs Launches Ethereum Contract for POL Token: What is Polygon 2.0?

In Brief

  • Polygon Labs has launched a new Polygon token, POL, with the Ethereum contract. The process, which was announced to the public on October 25th, aims to replace the existing token, MATIC, in the Polygon ecosystem. However, the team has stated that users do not need to exchange their MATIC assets with POL at the moment.ContentsHighlights […]
COINTURK NEWS
COINTURK NEWS 2 years ago
Share
SHARE

Polygon Labs has launched a new Polygon token, POL, with the Ethereum contract. The process, which was announced to the public on October 25th, aims to replace the existing token, MATIC, in the Polygon ecosystem. However, the team has stated that users do not need to exchange their MATIC assets with POL at the moment.

Contents
Highlights for POLWhat is Polygon 2.0?

Highlights for POL

According to Ethereum blockchain data, the new token was created on October 25th at 09:06 UTC. The full name of the token is Polygon Ecosystem Token. In the announcement, the Polygon team claimed that POL provides power to a wide ecosystem consisting of Layer-2 chains based on zero-knowledge technology.

This allows investors to stake their assets on multiple chains and implement a re-staking protocol that serves multiple functions during this process. According to a post shared by the team, the release of the token will pave the way for the implementation of other aspects of Polygon 2.0 roadmap, including the launch of a new staking layer for the Polygon ecosystem, upgrading the existing Proof of Stake (PoS) network to zkEVM Layer-2, and creating a shared liquidity protocol for all Polygon networks.

The team also emphasized that POL is not currently used for any system on the Polygon network. Both staking on Polygon PoS and Polygon zkEVM are still carried out using the old token, MATIC, and gas fees on the PoS network are paid with MATIC. Therefore, users, validators, and application developers do not need to exchange their MATIC for POL at the moment.

What is Polygon 2.0?

Polygon Labs took its first step by announcing the development of a new Layer-2 ecosystem on June 29th. The new ecosystem was named Polygon 2.0 by the team. On September 14th, the team announced that Polygon 2.0 would utilize a new token called POL. At that time, the token had not yet been created or distributed to Ethereum.

The Layer-2 ecosystem proposed by Polygon will use zero-knowledge proofs system to verify transactions between networks. It will also utilize optimistic rollup technology proposed by Optimism Labs to secure messages between networks, attracting attention in the Web3 space.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

You Might Also Like

Polygon Faces Leadership Shift as Co-Founder Mihailo Bjelic Exits

Polygon Launches AggLayer v0.2 Testnet to Enhance Blockchain Interactions

Polygon Community Votes on Liquidity Proposal to Fund Ecosystem Growth

AggLayer Summit Engages Blockchain Leaders in Bangkok

Polygon and Magic Labs Create a New Cross-Chain Network

COINTURK NEWS 25 October, 2023 - 10:03 pm 25 October, 2023 - 10:03 pm
Share This Article
Facebook Twitter
Share
Previous Article Ethereum Rises Alongside Potential Bitcoin ETF Approval
Next Article SOL Coin Analysis: Price Targets and Technical Indicators
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Stay Connected

8.1k Like
21.1k Follow
1.1k Follow

Latest News

AUSTRAC Imposes New Limits on Crypto ATMs in Australia
Cryptocurrency Law
Investors Brace for Major Cryptocurrency Price Swings This Week
Meme Token
Bitcoin’s Journey to Stability: What Lies Ahead?
Technical Analysis
Meet CryptoAppsy, the cryptocurrency assistant
Cryptocurrency News
//

COINTURK was launched in March 2014 by a group of technology enthusiasts who believe that Bitcoin will be as important as the internet in the world of the future thanks to the amazing technology underlying it.

CRYPTOCURRENCY LIVE PRICES

  • Bitcoin (BTC) Live Price
  • Ethereum (ETH) Live Price
  • Ripple (XRP) Live Price
  • Solana (SOL) Live Price
  • Dogecoin (DOGE) Live Price
  • Cardano (ADA) Live Price
  • Chainlink (LINK) Live Price

OUR PARTNERS

  • COINMARKETCAP
  • COINGECKO
  • BITCOINHABER
  • BH NEWS
  • 21MILYON
  • NEWSLINKER

OUR COMPANY

  • About Us
  • Cookie Policy
  • Advertising
  • Contact
COINTURK NEWSCOINTURK NEWS
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
Welcome Back!

Sign in to your account

Lost your password?