Polygon has been developing its blockchain for the last couple of months, with an innovation called AggLayer.
This innovation stems from the interoperability trend that is slowly rising in the crypto space, with more people noticing that blockchains should be united and not compete with one another.
Polygon’s AggLayer
Polygon AggLayer or Aggregated Layer, is an innovation that started being developed in 2022.
The product is a part of the Polygon 2.0 development, with the whole project rebranding itself from what it was before.
AggLayer is Polygon’s new blockchain which went live in January 2024, however, it is still in its early stages as it is not used by the public yet.
The AggLayer comes from the narrative of the aggregated blockchain that Polygon started, which is a new blockchain to integrate all blockchains in the crypto space.
It is similar to an omni layer, however, the omni layer only stands as a bridge, but this aggregated blockchain stands as its blockchain.
The goal is to integrate all blockchains into the aggregated blockchain, including layer one, layer two, and layer three blockchains.
By integrating all blockchains into one, users and developers can easily access all blockchains in one layer so the interaction process is more efficient.
For users, if all the blockchain is integrated, then there is no need to use bridges and change blockchain networks when using a decentralized wallet.
For developers, the aggregated blockchain can bring ease of creating a decentralized application, since all liquidity is integrated.
Developers can use one mechanism from one blockchain and another from one for its decentralized application, all in just one blockchain.
The goal is to unite the crypto space so that every blockchain can be accessed in one aggregated blockchain, created by Polygon.
Development in the Polygon Ecosystem
The Aggregated Layer narrative is created as a part of Polygon’s rebranding from Polygon to Polygon 2.0.
Since its launch, Polygon has rebranded itself from the Matic Network to Polygon and is now looking to do it again.
The rebrandings are strategies to keep Polygon relevant among crypto users since there are many similar products.
Polygon started as Matic Network intending to be a new blockchain more scalable than Ethereum or any existing blockchain in the pre-2017 bull market era.
It rebranded as Polygon after it officially became the main layer of two blockchains for Ethereum. However, with the existence of new layer two blockchains, its dominance quickly faded, which made it rebrand to another goal.
In late 2022, Polygon created Polygon Ventures which is an accelerator and venture capital to help projects build on Polygon.
Since its dominance faded in the layer two blockchain sector, it decided to become its layer one blockchain, however, it is still not enough to top its competition.
It later started rebranding itself as Polygon 2.0, one of which is through the introduction of this Aggregated Layer.
With the Polygon 2.0 launch, Polygon will also change its main coin from MATIC to POL, which is now live and available to be traded within the crypto market.
However, people do not seem to realize this as most are still using MATIC. To accommodate this, Polygon has set the deadline to swap MATIC to POL in 2026.
Conclusion
It will be interesting to see how the AggLayer develops as the goal of this innovation seems to be a pretty hard one to accomplish.
This is because not many blockchains want to be a part of it, especially the ones that are already doing great as they are.
Currently, the only blockchain that has joined the Polygon AggLayer is Polygon zkEVM, which is the polygon’s side chain with the zero-knowledge mechanism.
There are no other blockchains integrated yet, however, this might change in the future with the development of Polygon.
Read Also:
Bitrue Official Website:
Website: https://www.bitrue.com/
Sign Up: https://www.bitrue.com/user/register
Disclaimer: The views expressed belong exclusively to the author and do not reflect the views of this platform. This platform and its affiliates disclaim any responsibility for the accuracy or suitability of the information provided. It is for informational purposes only and not intended as financial or investment advice.