POLYGON 2.0 :
Today we are going to break down polygon’s exciting new roadmap for polygon 2.0, their so-called final phase that you don’t want to miss just a warning, it can all be a bit complex at first, so make sure you pay close attention if you are new to all this let’s start with the basics of today’s blockchain.
Original POS, formerly known as the madic network, was launched in 2017 as a side chain, ethereum which serves to increase the scalability of eth, may be similar to ethereum it uses a proof-of-stay consensus mechanism, to process transactions on the chain, and is currently using madic as its native token, in March of this year.
They have also launched another Layer 2 evm ZK chain polygon, an ethereum ZK rollup.
Then in June, the announcement of polygon 2.0, detailed the next phase of evolution, which is envisaged as a vast network of L2 chains powered by ZK power, with unlimited scalability and transparent interoperability.
Polygon 2.0, is envisaged as a vast network of L2 chains powered by ZK power, with unlimited scalability and transparent interoperability.
The goal is to create the value layer of the Internet, where you can exchange digital assets securely and transparently, just as the Internet allowed the exchange of information shortly after this announcement.
The team has started a discussion on the upgrade of the polygon POS chain, to a ZK evm validium.
A validium is simply another type of scaling solution, for ethereum now it is different from the ZK evm polygonal chain, a ZK rollup that will always coexist as a public network in the polygon 2.0 ecosystem.
Now you may be wondering what is the difference between a rollup and a validium, while the ZK powered validium submits ZK validity proofs to the L1, they don’t publish the transaction data on the chain like ZK willips instead.
This data is made available off-chain, which gives the iium the advantage of being less expensive, while offering higher scalability, since its throughput is not limited by the amount of data, transaction, ethereum can store the upgrade from polygon POs to a ZK evm validium, is not only to allow it a higher inherent security and scalability, but also to integrate the OG chain, which has been widely adopted in recent years, in the largest polygonal ecos system powered by ZK of the future.
The polygon cdk, is an open source modular code array that anyone can use to launch their own customizable L2 powered by ZK on ethereum it is actually an evolution of their previous vision of polygon, supernets which was announced in April last year, which simply served the same objectives but was not powered by ZK Tech.
The implementation, and the adoption of the polygon cdk, will transform polygon into a supernet of ZK networks, functioning as an interoperable system and exchanging valuable resources via a shared bridge outside the polygon cdk.
And the theoretically unlimited chains, which it allows there is also another upcoming chain called polygon medium, this is a ZK rollup running on the first virtual machine, which will prioritize ZK usability, over evm compatibility and where manufacturers can write and deploy DS, to bring all these different active parts of a future polygon 2.0.
Ecosystem together a number of important technical upgrades of the existing network are necessary, from protocol design to tokenomics, and governance at the polygon 2.0 protocol level, will implement four layers that will work together to provide a compact system of networks, with mutual communication.
These four layers are the staking layer, the interoperability or interoperability layer, the execution layer, and the proof layer.
The first, is the staking layer, this is where the native token of the polygon, will be staked to ensure security, and the decentralization of all the tasks of the chains, such as maintenance in addition, each chain, can also customize the desired level of decentralization by specifying the required number of validators.
Each chain can even choose, to define additional rewards or specific discount conditions, for the validators then, the interoperability layer, will facilitate secure and transparent inter-chain messaging within the system.
Users will have the impression that the entire network, is a single chain, for example with an almost pedestrian bridge and shared access to native Ethereum assets, i.e. no need for synthetic tokens or WRA, on different chains..
The execution layer, allows any polygonal chain to sequence the transactions of men, and produce blocks similar to the way transactions are processed in networks like Ethereum, and Bitcoin.
Finally is the proof layer, which is a high flexible- execution of the ZK proof protocol, it is responsible for generating and aggregating proofs efficiently, for all executed transactions, on all polygon chains in addition to the upgrades of the protocol architecture, there are also brand new tokenomics to implement.
This is where the new pull token, comes into play the pull token contracts, went live on ethereum mayet on October 25th, which means an important milestone, so what does this mean for the current madic token hub, they are ready to power the polygon 2.0 ecosystem, which will eventually take over the role of maddox, as a native token, for which it will be used for gas staking, and other utilities as the ecosystem grows polygonal continues to develop.
The pole token will be a key element strengthening the security of all chains that operate under the polygonal supernet structure, which the team calls a hyperproductive third-generation token that replaces Bitcoin, a non-productive asset and ether a productive asset.
Indeed, the validators of the polygonal network can also validate, and earn transaction fees from any polygonal chain, and earn additional rewards according to the specific plans of the network, which they validate according to the white paper of the survey.
The initial survey offer of 10 billion tokens, is intended for the migration of madic to an exchange of one in order to ensure the success of pull because the new native token after the initial offer will be released at a predefined rate of 2% per year for 10 years, after which it can be decreased by governance, if you wish on these 2% 1% goes to the incentive and retention of validators, and the other 1% to support the development of the ecosystem.
The team believes that after 10 years, transaction fees and other incentives will be enough to generate a return for validators.
And finally, the last component, is the redesigned governance framework, so it will be separated into three main pillars with different governance models.
First of all, we have the governance of the protocol which concerns the decentralized maintenance and development of the polygon technology stack.
Then we have the governance of the smart contracts of the system relating to the upgrades of the protocol components, which are smart contracts:cont.
Finally, the governance of the community treasury which concerns the growth of the ecosystem and the financing of public goods.
It should be noted that all this is not currently set in stone, with possible changes to be made based on ongoing discussions with users of pogon validators.
Conclusion :
Developers and other participants in the ecosystem, it seems that polygon has quite the path that awaits it to polygon 2.0.
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