Polygon Says Network Was ‘Developed Outside The US, Deployed Outside US’

Polygon Labs, a renowned network, is emphasizing its international origins as it introduces “Polygon 2.0,” an extensive set of enhancements aimed at establishing the crucial “Value Layer” of the internet.

This revolutionary initiative by the company empowers users to engage in activities such as value creation, exchange, and programming.

Recently, Polygon Labs shared an intriguing tweet proclaiming that the non-US market holds unparalleled significance on a global scale. Interestingly, this message emerges during a time when the US government is adopting a less favorable approach towards cryptocurrencies.

The Securities and Exchange Commission (SEC) has specifically mentioned MATIC, Polygon’s native coin, in ongoing lawsuits involving major platforms.

Given these circumstances, it raises questions about the implications for the network. Could this be an indication of an imminent move beyond the borders of the United States?

MATIC Faces Setbacks As SEC Lawsuits Prompt Delisting 

In the wake of being mentioned by the SEC in pending lawsuits involving Coinbase and Binance, the MATIC token has experienced a downturn. Consequently, Robinhood, a prominent trading platform, made the decision to delist the token, effective from June 27.

Responding to the SEC’s recent actions, Polygon placed significant emphasis on its origins beyond the US borders.

Additionally, the company highlighted the crucial technical role played by the MATIC token, particularly in staking, which ensures network security for Polygon’s Proof-of-Stake (PoS) layer-1 network.

We are proud of the history of the Polygon network – developed outside the US, deployed outside the US, and focused to this day on the global community that supports the network. MATIC was a necessary part of the Polygon technology from Day 1, ensuring that the network would be…

— Polygon (Labs) (@0xPolygonLabs) June 10, 2023

Polygon Labs Advances With Polygon 2.0

Amidst recent developments, Polygon Labs is tirelessly working on Polygon 2.0, a comprehensive suite of upgrades that aims to revolutionize nearly every facet of the network.

Described as a roadmap to establish the Value Layer, 2.0 envisions unrivaled scalability and unified liquidity through the integration of Zero-Knowledge (ZK) technology.

In a Twitter thread, the company said that 2.0 aspires to create a network composed of interconnected chains, powered by the innovative ZK technology.

1/ Our vision for Polygon is simple: to build the Value Layer of the Internet.

The Internet allows anyone to create and exchange information. The Value Layer allows anyone to create, exchange, and program value.

Enter Polygon 2.0: a blueprint to build the ultimate Value Layer. pic.twitter.com/9eYSr3H1L5

— Polygon (Labs) (@0xPolygonLabs) June 12, 2023

This cryptographic technique enables a prover to validate a statement’s truthfulness to a verifier without divulging any additional information beyond the statement’s validity itself.

As Polygon Labs continues to drive innovation with 2.0 and its integration of ZK technology, it becomes evident that the company is positioning itself to capture global opportunities and establish the Value Layer on a worldwide scale.

As the network reveals more details about its technology in the coming weeks, the potential for the network to thrive outside of the US becomes an intriguing prospect worth closely monitoring.

Featured image from iStock