Polkadot's upcoming 2.0 upgrade, as announced by Dr. Gavin Wood during the Polkadot Fellowship meeting, emphasizes critical advancements designed to enhance network capabilities. The most notable features of this upgrade include elastic scaling and the introduction of a 64-bit Polkadot Virtual Machine (PVM).

The introduction of these features aims to improve scalability and efficiency within the Polkadot network. The elastic scaling feature is expected to allow the network to adapt dynamically, handling varying loads of transactions more effectively.

The 64-bit PVM will provide enhanced computational power, further elevating the network's performance standards. This improvement seeks to ensure that Polkadot remains a competitive and robust platform within the blockchain industry.

Dr. Gavin Wood also outlined advancements in the Join-Accumulate Machine (JAM), with the latest version 0.4 gray paper incorporating "Ordered Accumulation," marking a crucial development ahead of the anticipated v1.0 release.