Matic rebrands to Polygon in pursuit of ‘Polkadot on Ethereum’ strategy


Related articles

The Matic Community, a mission growing an Ethereum-based layer-two resolution and an impartial proof-of-stake blockchain, introduced Tuesday that it will rebrand to Polygon. Whereas the present merchandise and the token would stay largely the identical, the brand new branding alerts a strategic change to turn out to be a layer-two aggregator.

Polygon is got down to support other Ethereum scalability solutions, notably Optimistic Rollups, ZkRollups and StarkWare’s Validium, along with its in-house platforms. The technique will probably be applied by means of a brand new Polygon SDK, which is able to enable builders to construct their DApps on a scalable and Ethereum-anchored infrastructure, with out having to decide on any know-how particularly.

Sandeep Nailwal, co-founder of Matic and Polygon, defined that the strategy additionally entails quite a lot of interoperability mechanisms. These embody asynchronous messaging programs primarily based on the Ethereum Digital Machine, meant for EVM-compatible chains; messaging primarily based on state channels, a extra complicated model of the Lightning Community’s core idea; in addition to a possible “overlay rollup” that mixes different layer-two platforms and permits for fast inter-rollup transactions. Polygon would preserve full tethering to Ethereum by means of quite a lot of layer-two safety mechanisms, along with utilizing Matic’s present asset bridging implementation.

As a part of the brand new technique, the mission additionally onboarded notable Ethereum builders and influencers like Hudson Jameson, Ryan Sean Adams, Anthony Sassano and John Lilic as advisors. In accordance with Nailwal, among the advisors described Polygon’s strategy as a type of “Polkadot on Ethereum,” which isn’t an official tagline adopted by the staff however nonetheless presents an “simpler to know narrative for the neighborhood.”

Polygon’s SDK and platform would rework Ethereum right into a multi-chain system, which the staff admits shouldn’t be not like what different initiatives like Polkadot, Cosmos or Avalanche do. Nonetheless, Nailwal believes that the Ethereum-centric technique presents a number of vital benefits over competing programs. Polygon would profit from Ethereum’s normal community impact of DApps and adoption, whereas additionally being “inherently safer” resulting from Ethereum being the bigger and extra battle-tested blockchain.

Lastly, Nailwal mentioned that Polygon is “extra open and highly effective, primarily by way of structure varieties it may well assist.” The platform can incorporate any Ethereum scalability resolution, whereas additionally adopting “Ethereum’s ethos of open innovation.”

Polygon’s technique, if efficiently applied, may have main repercussions on the Ethereum ecosystem. Its new “rollup-centric” roadmap would see shards getting used to tether quite a lot of layer-two options. However whereas sharded architectures incorporate cross-shard communication by design, interoperability between layer-two chains is much less fast and infrequently requires going by means of the principle Ethereum blockchain first. For initiatives in decentralized finance, the place simple composability is essential, this concern may imply that they must choose “the successful rollup” even when it could be overcrowded or in any other case not appropriate for his or her wants. Thus, simple interoperability might be key to making sure that Ethereum’s present roadmap presents sensible scalability for DApps.