April 19, 2024
Polygon 2.0, Unified ZK-Powered L2 Chains in 2024
Latest Cryptocurrency News

Polygon 2.0: Unified ZK-Powered L2 Chains in 2024

Jordi Baylina, co-founder of Polygon, foresees a significant milestone for the scaling blockchain platform in 2024 – the culmination of its various Ethereum layer-2 scaling networks into what is being termed “Polygon 2.0.”

This development is part of Polygon’s broader strategy to implement a cross-chain coordination protocol, emphasizing the integration of zero-knowledge proofs (ZK-proofs) as a key facilitator of scalability and interoperability within its diverse ecosystem.

“2024 is going to be very much about Polygon 2.0, having all these networks connected, sharing the liquidity, sharing the composability between the network with different flavors.”

Polygon unveiled its ambitious Polygon 2.0 initiative back in June 2023, delineating plans for an advanced scaling ecosystem comprising four crucial protocol layers: staking, interop, execution, and proving layers. The objective is to create a seamlessly interconnected network of chains, fostering swift value transfer and efficient information sharing.

Baylina pointed out that various networks within Polygon’s ecosystem currently operate with their distinct tokens, sequencers, and data availability solutions. The envisioned evolution to Polygon 2.0 seeks to overcome these inherent differences by introducing several upgrades that leverage ZK-proof technology, ultimately resulting in what Baylina terms as “continuous, unbounded blockspace.”

Reflecting on the progress made in 2023, Baylina acknowledged the significance of key product releases, notably the introduction of the zkEVM mainnet beta in March. This technology has been pivotal in reducing transaction costs and enhancing the throughput of smart contract deployments.

The zkEVM essentially mirrors the transaction execution environment of Ethereum’s mainnet, enabling off-chain batching of thousands of transactions with cryptographic proofs summarized and posted to the Ethereum mainnet.

Further contributing to Polygon’s robust ecosystem, the Chain Development Kit (CDK) was introduced in September 2023. This initiative significantly expanded Polygon’s development landscape, allowing developers to launch customized ZK-powered layer 2 protocols on Ethereum, tailored to the specific needs of their projects.

Notably, the CDK provides automatic access to liquidity across all of Polygon’s chains and the broader Ethereum ecosystem, ensuring “on-demand scale without fragmenting liquidity.”

However, Baylina acknowledged the complexity of the ongoing transition within Polygon, particularly the shift from Polygon PoS to a zkEVM valium.

This process involves securing consensus, migrating bridges, and ensuring the continuity of applications – a formidable challenge within the decentralized structure of Polygon. Nonetheless, Baylina remains optimistic about the resulting interconnected and scalable network that will emerge from these efforts.

Image by kjpargeter on Freepik

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