Polygon Labs, the team behind the widely-used Polygon PoS chain, has recently unveiled a groundbreaking proposal for a significant upgrade to the network.
This upgrade aims to introduce a revolutionary decentralized Layer 2 (L2) solution, fortified by zero-knowledge (ZK) proofs, which will enhance the security, performance, and overall functionality of the Polygon ecosystem.
Referred to as Polygon 2.0, this upgrade holds immense promise for the future of blockchain technology.
What Sets This Upgrade Apart
What sets this upgrade apart is its pioneering nature. It will mark the first time an existing chain of this magnitude and significance has implemented ZK proofs to transition into an L2 solution.
This pivotal moment in the blockchain industry highlights Polygon Labs’ commitment to innovation and their determination to push the boundaries of what is possible.
The Proposed Upgrade
The proposed upgrade envisions the utilization of zkEVM validium, a cost-effective and high-throughput sibling of a rollup.
Rollups, like Polygon zkEVM, leverage the Ethereum network to publish transaction data and verify proofs, inheriting the exceptional security and decentralization of Ethereum. By incorporating zkEVM technology, Polygon will be able to harness the advantages of both scalability and security.
Furthermore, the upgrade will entail migrating Polygon’s existing PoS to a new PoS network that incorporates zkEVM technology.
This upgraded PoS network, known as validium, will operate alongside Polygon’s existing zkEVM rollup network, offering users the flexibility to choose the technology that aligns with their specific requirements.
Benefits of Polygon 2.0
The upgraded Polygon ecosystem will offer a number of benefits, including:
- Enhanced scalability: The upgraded PoS network will offer exceptional scalability, making it an optimal choice for applications that handle high transaction volumes.
- Reduced transaction fees: The upgraded PoS network will also offer reduced transaction fees, making it more affordable for users to interact with the Polygon ecosystem.
- Improved security: The upgraded PoS network will inherit the security of Ethereum, making it a highly secure platform for users to store and transact their digital assets.
- Enhanced decentralization: The upgraded PoS network will be more decentralized than the current Polygon PoS network, as it will be secured by a decentralized set of validators.
The Future of Polygon 2.0
Polygon’s vision for Polygon 2.0 revolves around scalability and unified liquidity, both powered by ZK technology. The goal is to transform every Polygon chain into a ZK L2 solution. However, it is important to note that the current state of Polygon PoS is secured by validators rather than ZK proofs.
At present, the proposed upgrade is in the Pre-Polygon Improvement Proposal (PIP) stage, with the proposal already accessible on the governance forum. Should it garner substantial support from the community, a formal PIP will be submitted, initiating the prescribed processes.
