Polygon co-founder Jordi Baylina says 2024 will see the amalgamation of Polygon’s varied Ethereum layer 2 scaling networks to finish its “Polygon 2.0” cross-chain coordination protocol.
Talking solely to Cointelegraph, Baylina mentioned subsequent yr will likely be a litmus check to see how the Polygon ecosystem’s varied networks can scale and combine via the implementation of zero-knowledge proofs (ZK-proofs):
“2024 goes to be very a lot about Polygon 2.0, having all these networks related, sharing the liquidity, sharing the composability between the community with totally different flavors.”
Baylina added that a number of of the networks that make up Polygon’s ecosystem characteristic their very own respective tokens, sequencers and information availability options. The evolution to Polygon 2.0 is ready to incorporate a number of upgrades that can unify these totally different protocols with ZK-proof expertise into “steady, unbounded blockspace.”
The scaling expertise agency unveiled Polygon 2.0 in June 2023, outlining plans for a scaling ecosystem comprising 4 protocol layers. The staking, interop, execution and proving layers all play a task in creating an interconnected ecosystem of chains that allow quick worth switch and knowledge sharing.
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2023 has been an essential yr for Polygon, as Baylina displays, as a number of merchandise have been shipped which have added to the efficiency of its scaling protocol and supply the means for builders to construct decentralized purposes (DApps) and interoperable providers.
“This has been an unbelievable yr for Polygon, the zkEVM was like the primary large occasion. Additionally the creation, design and announcement of Polygon 2.0 with the proof-of-stake (PoS) integration and all these aggregation layers, is a crucial milestone,” Baylina explains.
Polygon launched its open-source zkEVM mainnet beta in March 2023, which delivers decreased transaction prices and elevated throughput of good contract deployments. The expertise permits hundreds of transactions to be batched off-chain, with cryptographic proof containing a minimal information abstract posted to the Ethereum mainnet.
Polygon’s zkEVM mimics the transaction execution surroundings of Ethereum’s mainnet. The open-source zkEVM permits DApps to scale via transaction batching, unlocking greater efficiency.
The discharge of Polygon’s Chain Growth Equipment (CDK) in Sept. 2023 dramatically opened the ecosystem to new growth. Baylina beforehand spoke to Cointelegraph on the introduction of the service, which permits builders to launch bespoke ZK-powered layer 2 protocols on Ethereum, tailor-made to the necessities of their challenge.
A key facet is that Polygon CDK allows computerized entry to liquidity throughout all of Polygon’s chains and the broader Ethereum ecosystem, offering “on-demand scale, with out fragmenting liquidity.”
Baylina described the present state of Polygon as a “constellation with a single star being the zkEVM.” The transition of Polygon PoS to a zkEVM validium will expedite the scaling of the community and permit ecosystem protocols to change into interconnected.
“It’s complicated. It’s not a straightforward process. Polygon is a decentralized system. So first, there must be consensus for the swap. Then comes shifting all of the bridges, persevering with the community, and giving continuity to all these purposes. That is difficult,” Baylina provides.
Polygon launched three Polygon Enchancment Proposals (PIPs) in Sept. 2023. This features a proposal for the transition and specs that can see MATIC tokens change into POL tokens, which is able to change into the Polygon proof-of-stake (PoS) protocol’s native token.
PIP-17 will embody the initiation of the improve from MATIC to POL. This contains its transition to POL because the native gasoline token and staking token for the Polygon ecosystem, in addition to the launch of the staking layer and migration of Polygon public chains.
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