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Home»ALTCOIN NEWS»Polygon plans to integrate all blockchains, CEO explains
ALTCOIN NEWS

Polygon plans to integrate all blockchains, CEO explains

By Crypto FlexsSeptember 10, 20243 Mins Read
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Polygon plans to integrate all blockchains, CEO explains
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  • Polygon has upgraded MATIC to POL with major changes.
  • AggLayer connects Web3 with ‘infinite scalability’.
  • Blockchain network fragmentation is a serious problem.

While there is a growing focus on blockchain interoperability, major challenges remain. The largest layer 1 platforms, including Ethereum, Solana, BSC, and Base, do not play well with each other. Transactions between these chains are expensive and often subject to major vulnerabilities.

Polygon’s latest upgrade aims to change that. According to Polygon Labs CEO Marc Boiron, the project will focus on bringing all blockchains together with infinite scalability.

Polygon Launches AggLayer to Solve Blockchain Fragmentation

Cross-chain interoperability remains a major hurdle for the technology. In a recent interview, Polygon Labs CEO Marc Boiron revealed how the planned Polygon upgrade will work to address this issue.

The heart of the upgrade is AggLayer, short for Aggregation Layer, which aims to connect all blockchains. Boiron explains that AggLayer is a universal protocol that connects L1 and L2 networks. “It’s not about L2, it’s not about Ethereum. It’s about bringing all of Web3 together,” Boiron emphasized.

The key part here is AggLayer’s ability to create “infinite scalability,” which means expanding blockchain functionality beyond the original limitations of transaction speed, congestion, and fees. AggLayer achieves this through zero-knowledge (ZK) proofs, which help scale the network by grouping multiple transactions across multiple chains together.

Cross-chain solutions are still expensive and insecure.

Cross-chain fragmentation has long been a hurdle for blockchain users. Transferring assets from one network to another can be a huge challenge, and often involves serious security vulnerabilities.

Blockchain bridges involve the complex task of locking tokens on one network and creating replacement tokens on another network. However, this process relies on intermediaries, which are a major bottleneck.

Cross-chain bridges often only make the news when they get hacked. In the past few months, hackers have accessed Nomad Bridge, Orbit Bridge, Ronin Bridge, and Multichain Bridge.

On the other side

  • This isn’t Polygon’s first. RebrandingIt was launched in 2017 and was originally named Matic Network.
  • Polygon’s latest upgrade features Major changes About token economics, staking, etc.

Why this matters

Cross-chain interoperability is one of the biggest concerns for users holding a variety of assets. Networks that solve this problem will be in a strong position to grow.

Learn more about Polygon’s latest updates:
Polygon’s MATIC to POL upgrade has begun. What’s changed and what’s next?

Learn more about Web3’s challenge for the creator economy.
Solana-based DRiP raises $8M to empower creators

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