Polygon Labs, the company behind the Polygon blockchain, has announced management changes as it undergoes a transformation in the next chapter of its corporate development, known as “Polygon 2.0.”
The company promoted its chief legal officer, Marc Boiron, to the position of CEO, while President Ryan Wyatt will step down at the end of July and serve in an advisory role.
Primary Shaking of Leadership
According to a press release shared by CoinDeskBoiron’s appointment marks the company’s commitment to nurturing and expanding the global Polygon community of developers, builders, and users.
Boiron, who has been with the company since 2020, has extensive experience in the blockchain and cryptocurrency space, working in various legal and regulatory roles.
Additionally, Rebecca Rettig, who joined the company in February as chief policy officer, will retain Boiron’s former role as chief legal officer. Co-founder Sandeep Nailwal will serve as executive chairman, overseeing the company’s strategic direction and partnerships.
In a tweet announcing his departure, CEO Ryan Wyatt stated:
It is bittersweet to share that I will be leaving Polygon Labs at the end of the month! Marc Boiron, our Chief Legal Officer, will step up and take the lead working closely with Sandeep Nailwal! For me, I would advise Polygon, invest, and stay in the industry! More to come later.
Polygon runs two of the most watched networks for scaling Ethereum transactions, and its rebranding to “Polygon 2.0” heralds a new phase of growth and development for the company. .
The management changes are part of a broader restructuring effort at the blockchain firm, which aims to position the company for long-term success in the rapidly evolving blockchain and cryptocurrency space.
The expected focus of the rebrand to “Polygon 2.0” is to expand the company’s user base and developer community and improve the features and capabilities of the platform. This will include a renewed focus on community building and innovation as the company seeks to position itself for long-term success.
The rebrand is expected to signal a new phase of growth and development for Polygon as it continues to operate two of the most watched networks for scaling Ethereum transactions.
Polygon 2.0 Architecture Revealed
On the 29th of June, the company already gave a hint of what to expect from Polygon 2.0. ACCORDING in Polygon’s blog post, this new chapter aims to provide “unlimited” scalability and unified liquidity.
The proposed architecture consists of four protocol layers, each designed to operate together and enable an important process within the network. These layers include the Staking Layer, Interop Layer, Execution Layer, and Proving Layer.
The Staking Layer is a Proof of Stake (PoS)-based protocol that uses Polygon’s native token (MATIC) to provide decentralization to Polygon’s participating chains.
On the other hand, the Interop Layer facilitates secure and seamless cross-chain messaging within the Polygon ecosystem. At the same time, the Execution Layer enables any Polygon chain to perform successive batches of transactions.
With these improvements, Polygon 2.0 is expected to offer a more robust and versatile platform that can support a wider range of use cases and applications while providing a more seamless and user-friendly experience for to developers and users.
Featured image from Unsplash, chart from TradingView.com