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 drawback with a forthcoming layer 2 aggregation SDK that may host a number of applied sciences without delay, in response to a weblog submit 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 improvement package (SDK) for layer 2 aggregation can be prepared in March, Polygon co-founder Sandeep Nailwal mentioned in a Telegram message.
“Polygon will assist a number of layer 2 options resembling 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 slightly than being certain by anybody possibility.”
Polygon’s rebrand and new roadmap comes at a time of elevated stress on the Ethereum important community, which has been struggling historic price charges. For instance, the common Ethereum transaction price broke above $20 per switch for the primary time ever final week. Many Ethereum-based dapps are scrambling to search out layer 2 options and have usually 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 will even be capable of launch complete 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 mentioned in a telephone interview.
“The Polygon SDK is constructed to accommodate [and] mixture 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 mentioned.