The CEO of the Altcoin, which is ranked among the best Layer-2 Projects, has changed! Important strategic moves are coming! Here are the details.

Polygon co-founder Sandeep Nailwal has officially taken over as the CEO of the Polygon Foundation, marking a new era for the Ethereum scaling project with a decisive change in strategic priorities.

Polygon Co-founder Sandeep Nailwal Appointed as CEO of Polygon Foundation, Announced Major Strategic Overhaul

So far, Nailwal, who has served as the chief operating officer of the project, is taking unilateral control of the foundation and is moving quickly to restructure and refocus the organization.

The foundation described this transition today in its statement as a "shift from a more passive phase in Polygon's history to a focused and ambitious vision for the future under its founding leadership."

The significant changes under Nailwal's leadership are as follows:

The long-awaited cross-chain aggregation layer Polygon Agglayer's accelerated presentation. Version 0.3 is planned to go live by the end of June, followed by a full launch.

The conversion of the Polygon PoS chain into GigaGAS, a highly efficient chain targeting 100,000 transactions per second. The GigaGAS upgrade is currently live on the testnet.

The phase-out of the Polygon zkEVM chain, which will be gradually discontinued within the next 12 months. The foundation will continue to operate the chain's sequencer during this period and will provide grants to projects transitioning to other Polygon environments.

Nailwal announced his decision in a post on social platform X:

"I have always stayed away from taking on the CEO role because I focused on building Polygon as a decentralized foundation. However, right now Polygon needs a clear direction and a focused application, which means stepping up."

Nailwal's leadership follows the recent departure of Mihailo Bjelic, the co-founder of Polygon, from the project, leaving Nailwal as the only founding partner still actively involved in the project. Previous co-founders Jaynti Kanani and Anurag Arjun stepped back in 2023.

Founded in 2017 as Matic Network, Polygon has been at the forefront of Ethereum scaling technologies, particularly in areas such as zero-knowledge rollups and proof-of-stake innovations.

*It is not investment advice.

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