Polygon Labs has recently proposed an upgrade to its Proof of Stake (PoS) to a zkEVM validium, a first-of-its-kind, decentralized ZK-proof Layer 2. The upgrade would combine the unparalleled security of Ethereum with the high scalability and low fees characteristic of Polygon, setting the stage for the forthcoming Polygon 2.0.
The proposed upgrade is a testament to Polygon’s technological leadership, aiming to introduce significant benefits to its users and developers. If accepted, the upgrade would facilitate the seamless migration of Polygon PoS and its $2 billion in assets, millions of users, and thousands of applications to this cutting-edge technology.
Polygon PoS as a zkEVM validium would offer two main advantages over rollups: significantly lower fees, as it would not consume expensive Ethereum gas, and significantly higher scalability. The only additional cost to run Polygon PoS in this new form would be the cost of generating proofs, a cost Polygon Labs has already significantly reduced.
Importantly, this upgrade won’t change the experience of the Polygon PoS network for users or developers. Validators would only need to upgrade to the latest version of the Polygon PoS client software, and chain economics would remain unchanged. The staked token would continue to be $MATIC.
After the upgrade, existing Polygon PoS validators would continue to play crucial roles, including guaranteeing data availability and sequencing transactions. This would make Polygon PoS the first Layer 2 with a decentralized sequencer set.
The proposed upgrade also aligns with the vision for Polygon 2.0, which aims to establish Polygon as the Value Layer of the Internet. This vision includes enabling anyone to create, exchange, and program value the same way the Internet allows for the creation and exchange of information.
If the proposal gains significant support from the community, a formal Polygon Improvement Proposal (PIP) will be initiated, following the prescribed PIP-1 and PIP-8 processes. After discussion and consensus gathering from all relevant ecosystem participants, the upgrade could potentially go live on the mainnet by the end of Q1 2024.
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The proposed upgrade is an invitation to everyone to join the discussion and leverage the power of ZK. It represents a step towards uniting all Polygon chains to form Polygon 2.0, the Value Layer of the Internet.
