Ethereum startup Matic Network is rebranding to Polygon because it goes all-in on additional Ethereum layer 2 scaling options.
The India-based agency is pivoting towards addressing Ethereum’s throughput downside with a forthcoming layer 2 aggregation SDK that may host a number of applied sciences without delay, in response to a weblog publish shared with CoinDesk.
The startup at the moment administers a proof-of-stake (PoS) Ethereum sidechain utilizing the Plasma framework – a now out-of-favor layer 2 resolution that may proceed to be hosted. Model 1 of the software program growth equipment (SDK) for layer 2 aggregation will likely be prepared in March, Polygon co-founder Sandeep Nailwal stated in a Telegram message.
“Polygon will assist a number of layer 2 options equivalent to Optimistic Rollups (OR), zkRollups (ZKR), and Validium, successfully making it an L2 aggregator,” the weblog reads. “This method, applied through Polygon’s modular SDK, will allow tasks to pick the scaling resolution that most closely fits their wants reasonably than being sure by anyone choice.”
Polygon’s rebrand and new roadmap comes at a time of elevated stress on the Ethereum predominant community, which has been struggling historic payment charges. For instance, the typical Ethereum transaction payment broke above $20 per switch for the primary time ever final week. Many Ethereum-based dapps are scrambling to seek out layer 2 options and have typically turned to varied types of rollups like ZKR or OR.
Rollups are a throughput know-how for verifying transactions off-chain which might be then re-published on-chain. They’ve been the popular resolution to Ethereum’s scaling woes, as Vitalik Buterin expressed on this autumn weblog post.
Polygon may also be capable to launch entire blockchains, just like Parity Applied sciences’ Substrate. Blockchains launched on Polygon inherit the safety assumptions of the underlying Ethereum blockchain, simply as Substrate-based chains can plug into Polkadot’s ecosystem to achieve safety, Polygon core developer Mihailo Bjelic stated in a cellphone interview.
“The Polygon SDK is constructed to accommodate [and] combination all such sorts of options, rollups being one in all them. At the moment, the Polygon SDK will allow creation of standalone chains like Polkadot’s substrate,” Nailwal stated.