Polygon Labs Proposes Architecture for Polygon 2.0 Project

Polygon Labs Proposes Architecture for Polygon 2.0 Project

Polygon Labs, the creator of the Polygon network, has put forward a proposed architecture for their upcoming project, Polygon 2.0. In a recent blog post on June 29, the team outlined their vision for the project, suggesting that it should consist of four distinct “layers” that would interconnect and form a network ultimately linked to Ethereum. The team also mentioned that if validators approve the proposal, Polygon 2.0 will include an aggregator that enables bridge transactions to be instantaneous and atomic.

Initially announced on June 12, Polygon 2.0 was described by the team as establishing “the value layer” of the internet. However, specific details were scarce at that time. Co-founder Mihailo Bjelic later proposed on June 20 that the current Polygon network be upgraded to incorporate zero-knowledge proofs. This upgrade, according to Bjelic, is crucial to align the old network with the envisioned goals of Polygon 2.0.

The Layers of Polygon 2.0

The blog post on June 30 provides a more comprehensive explanation of the structure of Polygon 2.0. The foundation of the project will be the existing “staking layer.” This layer consists of a “validator manager” contract on Ethereum, along with a separate “chain manager” contract for each individual Polygon chain. In the future, new Polygon chains will be able to emerge by launching new chain manager contracts on Ethereum.

Connected to this foundational staking layer will be an “interoperability layer.” This layer will encompass bridges that connect each Polygon chain to one another through Ethereum. To ensure security, zero-knowledge proofs will be utilized to validate all transfers within this layer. Additionally, the interoperability layer will incorporate an aggregator that consolidates individual zero-knowledge proofs from each bridge into one proof before sending it to Ethereum. This process will facilitate seamless bridge transactions and significantly reduce Ethereum gas consumption for proof verification, as stated by the team.

The third layer of Polygon 2.0 is the current execution layer, which relies on the Erigon Ethereum client. Finally, the fourth layer is the “proving layer,” which standardizes the zero-knowledge proof process across all Polygon chains. The team has announced that further details about each layer will be disclosed at a later date.

Polygon’s Expansion and Competitors

Polygon is not the only network aiming to expand into a multichain ecosystem. zkSync Era has announced their intention to establish a network of “Hyperchains,” which they plan to launch in a testnet phase by the end of the year. Similarly, Optimism, in collaboration with Coinbase’s Base network, is working towards creating a “Superchain” and has recently implemented the “Bedrock” upgrade to facilitate this transformation.

In summary, Polygon Labs has proposed an architecture for the highly anticipated Polygon 2.0 project. Consisting of four distinct layers, the project aims to create a network of interconnected chains linked to Ethereum. With the addition of an aggregator and the utilization of zero-knowledge proofs, Polygon 2.0 seeks to enable near-instant and atomic bridge transactions while reducing Ethereum gas consumption. As Polygon ventures into this multichain ecosystem, it faces competition from other networks like zkSync Era and Optimism.

Ethereum

Articles You May Like

Binance Launches Bitcoin Transaction Accelerator and Prepares BNB Chain Layer-2 Scaling Solution
TRON Founder Acquires Controlling Stake in Huobi, Emphasizes Importance of Partnership with Binance
The Coinbase Lawsuit: Navigating Regulatory Challenges
EU Approves Comprehensive Crypto Regulatory Framework

Leave a Reply

Your email address will not be published. Required fields are marked *