Polygon: partnership with Deutsche Telekom and upgrade to version 2.0

The beginning of June was marked by several important events for the Polygon site. We are talking about a partnership with Deutsche Telekom and the announcement of the update of the crypto network to version 2.0. We will tell you everything that is known at the moment about these events.

If you don't know what Polygon is yet

The Polygon project was developed as a supernet on the main Ethereum blockchain. Its goal is to scale and provide more opportunities for users in ETH.

Polygon is a sidechain that combines the Proof-of-Stake protocol and Plasma based on Ethereum. Thanks to this, it is possible to scale a decentralized application for a wide application.

Polygon is supported by crypto platforms such as Binance and Coinbase. Their goal is to create a generalized second—level platform. The project team reported that their product quickly became the main second-level solution for developers from all over the world. This happened due to secure, scalable and instant transactions, which are additionally protected by the Ethereum crypto network. Over 70 decentralized applications have been created on the platform, which include DeFi protocols, games and prediction markets.

Polygon partnership with Deutsche Telekom

Deutsche Telekom is one of the largest telecommunications organizations in Europe. It has its own infrastructure to explore new sources of profit and ways to improve network security. So she decided to become a validator.

She joined the hundred companies of the platform to increase the scalability of Ethereum to level 2 Polygon. It will provide staking services, providing validation for the crypto network and Polygon Supernets solutions.

The company will manage the whole node. It will also start the production of blocks, verification of operations and take part in the consensus of the crypto network. Additionally, it will transfer control points to the main Ethereum crypto network.

Dirk Rede, who heads the company's Blockchain Solutions Center, said that by becoming a network validator, the organization is taking an important step to take a leading position in the Web 3.0 infrastructure.

Note that the company has also become a validator in several other blockchains. These include Ethereum, Flow, Chainlink, etc. Interestingly, other telecommunications companies are also looking for opportunities to connect to decentralized blockchain projects. The General Director of the Landfill himself also noted this point. At the same time, he said that the partnership will pave the way for larger players who use blockchain.

Polygon 2.0 Update

The Polygon Labs team announced that an update to version 2.0 will be carried out soon. Modification is necessary to create a layer (level) of Internet value. Thanks to this, users will be able to create, exchange or program value.

On Twitter, the team said it would be a whole package of updates with a radical rethinking of each element. The roadmap speaks of unlimited scalability and unified liquidity. ZK technology will be used for this.

The second version of the Polygon will be a network of blockchains that will connect with each other. At the same time, Zero Knowledge technology is used at the core. This is a cryptographic technique that allows one user to conditionally confirm the correctness of the statement of another (verifier). At the same time, no additional data will be disclosed that would go beyond the boundaries of the reality of the statement.

The developers note that the network is capable of supporting an unlimited number of blockchains. At the same time, their interaction will be safe and instant. Additional assumptions about security and trust are not required. 

In fact, the update will be able to unify protocols to ensure seamless application of zkEVM and super networks. Thanks to this, the effect of a "single blockchain" will be created. The technology will also be able to evolve tokens and provide long-term decentralized management.

The president of Polygon Labs has announced a series of posts that will reveal details about each of the elements of the update:

  • June 19 — about PoS.
  • June 26 — about architecture and staking.
  • July 10 — about tokens.
  • July 17 — about management.

It should be noted that on June 7, the head of the project spoke before the US House of Representatives. He made a presentation on the democratization of the Internet and the potential of Web 3.0 technologies. At the hearing, he stressed the importance of blockchain in order to extract the value spread in the Internet network. Thanks to Web 3.0, users will be able to independently control their personal data. He also noted that it is important to make a good regulation of the blockchain.

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