Polygon Labs, the engineering group behind the popular Polygon PoS (Evidence of Stake) chain, has proposed a significant upgrade to the network.
The upgrade would present a “first-of-its-kind” decentralized L2 (Layer 2) protected by zero-knowledge (ZK) evidence, making the Polygon community more safe, performant, and a core part of the upcoming Polygon 2.0 community.
This upgrade marks a considerable turning point in the blockchain market, as it would be the very first time an existing chain, specifically of this size and value, includes ZK evidence to end up being an L2.
Polygon Labs Sets The Bar High
Per the statement, the upgrade proposes utilizing a zkEVM validium, a lower-cost, higher-throughput brother or sister of a rollup. Rollups, such as Polygon zkEVM, utilize Ethereum to release deal information and validate evidence, acquiring its security and decentralization.
Furthermore, the upgrade will include the migration of Polygon’s existing PoS to a brand-new PoS network that makes use of the zkEVM innovation. The updated PoS network, or validium, will run along with Polygon’s existing zkEVM rollup network, providing users the advantages of both innovations depending upon their particular requirements.
Existing Polygon PoS validators will play 2 crucial functions in the updated community, ensuring information accessibility and sequencing deals. By vouching for information accessibility, Polygon PoS will end up being the very first validium with decentralized and safe information accessibility assurances.
Validators will likewise run the chain by choosing which deals to consist of in a block and in which order, maintaining decentralization and making sure that deal charges circulation to MATIC-staked validators. This would make Polygon PoS the very first L2 with a decentralized sequencer set.
Moreover, the updated PoS network will provide high scalability and low charges, making it a perfect suitable for applications with high deal volume and needing low deal charges, such as Web3 video gaming and social and micro Decentralized Financing (DeFi).
On the other hand, the existing zkEVM rollup network will continue to provide a high level of security, making it an excellent option for applications that process high-value deals and focus on security, such as high-value DeFi applications.
Polygon’s 2.0 vision for scalability and combined liquidity, powered by ZK innovation, intends to make every Polygon chain a ZK L2. Nevertheless, Polygon PoS, in its existing state, is protected by its validators, not by ZK evidence.
According to the statement, the upgrade is presently in the Pre-Polygon Enhancement Proposition (PIP) phase, with the proposition currently reside on the governance online forum. Presuming it collects substantial assistance from the neighborhood, an official PIP will be advanced, starting the recommended procedures.
The proposition will then be gone over on PPG (Polygon Procedure Governance) Calls, governance online forums, and other public locations to collect agreement from all pertinent community individuals. The execution might go reside on Mainnet by the end of Q1 2024 if an agreement is reached.
Included image from Unsplash, chart from TradingView.com
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