365Crypto
Polygon’s AggLayer aims to unite the entire Web3 space, providing “infinite scalability” by connecting blockchain networks, according to Polygon Labs CEO Marc Boiron. This initiative is part of Polygon’s larger vision to integrate siloed blockchains, including Layer 1 (L1) networks like Ethereum and Solana.
AggLayer functions as an interoperability protocol designed to link different blockchain networks, going beyond just Polygon’s ecosystem. Boiron emphasized that the goal is to unify the entire Web3 landscape, rather than focusing on specific blockchains like Ethereum or Layer 2 solutions.
On September 4, Polygon upgraded its MATIC token to the new Polygon Ecosystem Token (POL), which plays a key role in the Polygon 2.0 vision. This upgrade, combined with Polygon CDK and AggLayer, aims to create a network with limitless scalability.
The issue of blockchain fragmentation, where Layer 1 blockchains operate as isolated systems, makes cross-chain communication difficult and costly. This fragmentation also introduces security risks, as seen in the December 2023 hack of Orbit Bridge, where $82 million was stolen due to cross-chain vulnerabilities.
Interoperability between blockchains remains a significant challenge for the crypto industry. Various leaders, including Ethereum co-founder Vitalik Buterin, are working on solutions to bridge the gaps between different blockchain networks and improve user experiences across the space.
