Polygon co-founder Mihailo Bjelic has put forward a proposal to enhance the security of the Polygon proof-of-stake (PoS) network by upgrading it to a “zkEVM validium” version.
The suggested upgrade, as outlined in a forum post on June 20, involves leveraging zero-knowledge proofs to bolster security measures.
Polygon PoS, an Ethereum scaling solution introduced in 2019, currently handles over 2 million transactions daily and has more than $900 million locked within its contracts.
In March, the Polygon team launched another network called Polygon zkEVM, utilizing zero-knowledge proof rollups to scale Ethereum.
In Bjelic’s proposal, he suggests upgrading the existing PoS network to a zero-knowledge Ethereum Virtual Machine (zkEVM) version, aligning both networks with zero-knowledge proofs.
However, unlike the recently launched network, the updated Polygon PoS will not function as a rollup. Instead, it will be a “validium” that stores only validation proofs on layer 1, while the transaction data will reside on a separate chain.
This compromise will result in lower transaction fees for Polygon PoS compared to Polygon zkEVM. Moreover, it will enhance the security of Polygon PoS by allowing it to inherit the security features of Ethereum, Bjelic explained.
Following the implementation of this upgrade, Polygon zkEVM could be utilized for high-value transactions requiring heightened security, while Polygon PoS may become the preferred network for gaming and social media enthusiasts.
Bjelic emphasized that the upgraded Polygon PoS (zkEVM validium) would provide high scalability and low fees, making it suitable for applications with high transaction volumes and the need for affordable transactions, such as Web3 gaming and social platforms.
Bjelic proposed a timeline for the implementation, suggesting that his informal proposal could be transformed into a formal Polygon Improvement Proposal by November. Subsequently, the upgrade could be deployed on the mainnet between February and March 2024.
The introduction of Polygon zkEVM and the upgrade of Polygon PoS are part of the team’s broader vision to establish a “Supernet” that unifies diverse application-specific chains.
This initiative, referred to as “Polygon 2.0,” aims to enhance the overall capabilities and offerings of the Polygon ecosystem.
On a separate note, it’s worth mentioning that eToro delisted Polygon on June 13 due to concerns raised by the United States Securities and Exchange Commission regarding the security’s registration status. However, the Polygon team has refuted any violation of U.S. laws in its fundraising activities.
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