- Polygon co-founder Mihailo Bjelic unveiled a brand new Polygon enchancment proposal earlier right this moment.
- The proposal seeks to improve Polygon’s proof of stake chain to zkEVM Validium.
- The proposal addresses a number of considerations, together with safety, fuel spike points, and reorg points.
- If authorized, the zk compatibility would deliver scalability, sooner transactions, and higher decentralization to the community.
Polygon co-founder Mihailo Bjelic has proposed a serious improve to the community’s proof of stake (PoS) structure. The proposal seeks to improve the PoS chain to a zkEVM Validium. Polygon, whose zk rollup went stay earlier this 12 months, would nonetheless be suitable with the Ethereum Digital Machine as per the most recent proposal.
MATIC Would Stay Polygon’s Native Staking Token
Based on the pre-Polygon Enchancment Proposal (PIP) dialogue began by Mihailo Bjelic on the community’s governance discussion board, the proposed improve to a zkEVM validium would tackle the community’s present issues together with the safety points, its reliance on Cosmos SDK and Geth, and fuel spikes in addition to reorg points. The proposal added that MATIC would proceed to function Polygon’s staking token.
zkEVM Validium has been introduced as a viable, helpful, and simple resolution for Polygon’s ongoing points. Direct advantages of the improve would come with elevated safety by leveraging Ethereum’s excessive safety, and future-proof tech stack quite than legacy blockchain structure. If authorized the proposal would additionally eradicate reorgs, velocity up transaction confirmations, improve stability and price estimation, and convey higher decentralization whereas making it suitable with Polygon 2.0.
“Upgraded Polygon PoS (zkEVM validium) would provide very excessive scalability and really low charges, with the tradeoff of storing transaction knowledge regionally as a substitute of on Ethereum. It will be an awesome match for functions which have excessive transaction quantity and require low transaction charges, e.g. Web3 gaming and social.”
Mihailo Bjelic, co-founder, Polygon
As per the timeline specified by accordance with the governance course of, the pre-PIP dialogue and consensus are anticipated to be completed earlier than the top of July 2023. PIP publishing, dialogue, and consensus would happen between October in addition to November 2023. That may be adopted by PIP implantation and testing between November and January 2024. Lastly, the improve and PIP activation on the mainnet would happen between February 2024 and March 2024.