Polygon co-founder Mihailo Bjelic has proposed upgrading the Polygon proof-of-stake (PoS) community to a “zkEVM validium” model, based on a June 20 discussion board publish. If the improve is carried out, the brand new model will depend on zero-knowledge proofs to extend safety.
HUGE UPDATE ON #Polygon
Polygon might undergo some big adjustments in close to future. @MihailoBjelic shared a polygon enchancment proposal few hours in the past which mentioned to improve polygon POS to zkEVM Validium.
In accordance with the proposal, Polygon POS is dealing with three key challenges…
— Hitesh Malviya (@hmalviya9) June 20, 2023
Polygon PoS is an Ethereum scaling resolution that has over $900 million in whole worth locked inside its contracts and does over 2 million transactions per day. It was first launched in 2019. In March, the Polygon workforce launched a second community, Polygon zkEVM, that makes use of zero-knowledge proof rollups to scale Ethereum.
Within the June 20 publish, Bjelic proposed to additionally improve the previous PoS community to a zkEVM — or zero-knowledge Ethereum Digital Machine — model, making each networks depend on zero-knowledge proofs. Nevertheless, not like the community that simply launched in March, the brand new model of Polygon PoS is not going to be a “rollup,” Bjelic said. In different phrases, it is not going to retailer compressed transaction information on Ethereum. As an alternative, it is going to be a “validium” that shops solely validation proofs on layer 1, whereas the precise transaction information will probably be stored on a separate chain.
This compromise will enable Polygon PoS to have decrease transaction charges than Polygon zkEVM. It can additionally improve the safety of Polygon PoS, since it should enable the community to inherit Ethereum’s safety, the co-founder concluded.
Associated: Why ZK-rollups want information availability
As soon as the improve is carried out, Polygon zkEVM could also be used for high-value transactions the place safety is of the utmost significance, whereas Polygon PoS might turn into the community for gaming and social media lovers, Bjelic recommended, stating:
“Upgraded Polygon PoS (zkEVM validium) would provide very excessive scalability and really low charges, with the tradeoff of storing transaction information regionally as an alternative of on Ethereum. It will be a terrific match for functions which have excessive transaction quantity and require low transaction charges, e.g. Web3 gaming and social.”
The Polygon co-founder supplied a timeline for when he thought the improve may very well be carried out, stating that his casual proposal may very well be became a proper Polygon Enchancment Proposal by November and carried out on mainnet someday between February and March 2024.
The launch of Polygon zkEVM and upgrading of Polygon PoS is a part of a grand plan by the workforce to create a “Supernet” uniting many various application-specific chains. The devs name this undertaking “Polygon 2.0.”
The native coin of the Polygon ecosystem, known as “MATIC,” was delisted by eToro on June 13 after the USA Securities and Change Fee claimed that it had been bought as an unregistered safety. The Polygon workforce has denied that its fundraising violated any U.S. legal guidelines.
