Sandeep Nailwal, co-founder of Polygon, has been appointed as the first CEO of the Polygon Foundation, taking full executive control and marking a shift from the organization’s previously decentralized governance model. This change is intended to provide focused leadership in light of increased competition in the blockchain space. Nailwal emphasized the need for speed and decisive action as Polygon aims to institutionalize its operations after a significant period of research and development from 2021 to 2023. The foundation plans immediate reforms, including the introduction of the AggLayer v0.3 interoperability protocol, anticipated by the year-end, which aims to consolidate fragmented chains under the Polygon brand. Additionally, the zkEVM chain will be phased out in 2026 due to inefficiencies that hinder scalability. Polygon is evolving into a “GigaGAS” chain, aiming to handle over 100,000 transactions per second to facilitate everyday payments effectively. Upcoming upgrades, such as the Bhilai upgrade in July, are designed to improve transaction finality and reduce gas fees, with partnerships including major firms like JPMorgan and Stripe.

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