Outside Source
Polygon’s AggLayer will unite the entire blockchain space to provide “infinite scalability,” according to Polygon Labs’ CEO.
News
Own this piece of crypto history
Polygon’s ultimate vision is to unify the entire Web3 space, including all the siloed blockchain networks.
Polygon aims to achieve this through its AggLayer — short for aggregation layer — which is similar to a cross-chain interoperability protocol aiming to connect blockchain networks.
Ultimately, AggLayer aims to connect all the blockchain space, including Layer 1 (L1) networks like Ethereum and Solana, according to Marc Boiron, the CEO of Polygon Labs.
Boiron told Cointelegraph in an exclusive interview:
“When you think of Polygon 2.0, you need to bring together the idea of thematic to pull upgrade together with Polygon CDK to allow for that infinite scalability and then the AggLayer to unify all of it…”
Polygon Labs CEO Marc Boiron, interview with Cointelegraph’s Zoltan Vardai. Source: YouTube
Polygon’s (MATIC) token underwent a key technical upgrade on Sept. 4 to become the new Polygon Ecosystem Token (POL) — a “hyperproductive” token that can serve the network’s growth and ultimate vision.
Related: Total crypto market sinks below $2T as analysts eye Bitcoin reversal below $54K
AggLayer is about “connecting all of Web3” — Polygon Labs CEO
The POL token’s technical migration was a crucial part of the vision of Polygon 2.0 — the Polygon CDK and AggLayer’s final evolution — which aims to provide “infinite scalability” to unify all blockchains.
Unlike other interoperability solutions, the AggLayer is not ecosystem-specific, but focused on connecting the entire Web3 space, explained Boiron:
“Unlike every other interoperability solution that is very focused on its own ecosystem, AggLayer is there to connect all of Web3… It’s not just about L2s, it’s not just about L1s. It’s not just about Ethereum. It’s about literally bringing it all together…”
Polygon Labs CEO Marc Boiron, interview with Cointelegraph’s Zoltan Vardai. Source: YouTube
Fragmentation between the main L1 blockchains is a growing user experience issue for crypto holders. Bridging between the main networks is costly and carries security risks due to cross-chain vulnerabilities.
Related: August sees 215% rise in crypto phishing, $55M lost in single attack
The blockchain interoperability issue and why it matters
Blockchain interoperability is among the most pressing concerns of the industry.
Since L1 blockchains are siloed systems, they have no means of communicating with one another, which is why cross-chain interoperability solutions exist.
The lack of compatibility between blockchains makes cross-chain infrastructure difficult to develop, leading to vulnerabilities in these third-party protocols.
In December 2023, cross-chain interoperability solution Orbit Bridge was hacked for $82 million due to an unknown vulnerability. The hacker was still on the run with the funds in June 2024 after moving $48 million worth of crypto to Tornado Cash.
Many notable blockchain founders are working on the interoperability issue, including Ethereum co-founder Vitalik Buterin, who unveiled plans to solve cross-chain interoperability between Ethereum L2s at the beginning of August.
This article first appeared at Cointelegraph.com News
