Will Polygon 2.0 Bring us Closer to Decentralized Governance?

Polygon is looking to take a significant stride forward. The platform has recently shared plans for a major governance restructure in its newly announced Polygon 2.0 roadmap. What is Polygon 2.0 and what plans does it bring?

More Decentralization, More Power to Users

The primary goal of the restructuring is to make Polygon a more decentralized platform. The team behind Polygon is envisioning a future where the network’s users have more influence over the decision-making process. By devolving authority and empowering the community, Polygon aims to foster a more inclusive and democratic ecosystem.

The Strategy: Three-pronged Approach to Decentralization

The roadmap towards a decentralized future consists of three key phases:

• Edge & Node
• Community-governed DAO
• Full protocol decentralization.

Each step marks a shift away from a centralized approach, allowing the Polygon community to play an increasingly pivotal role in governing the network.

Edge & Node Partnership: A Step Towards Decentralization

In the first step of its decentralization strategy, Polygon has teamed up with Edge & Node. This partnership will see the Edge & Node team work closely with Polygon to develop the decentralized technology stack.

Towards a Community-Governed DAO

The next step is the establishment of a community-governed DAO. Polygon believes this is a necessary evolution for the platform, one that will make it more resilient and democratic, ultimately helping the network to scale.

The Final Frontier: Full Protocol Decentralization

The final phase in Polygon’s decentralization journey is full protocol decentralization. This would make Polygon one of the first fully decentralized Layer 2 networks, a position that could grant the project a considerable edge in an increasingly crowded market.