2024 to see integrated ZK-powered L2 chains
Polygon founder Jordi Bailina 2024 will see the integration of Polygon's various Ethereum Layer-2 measurement networks to complete the “Polygon 2.0” cross-chain coordination protocol, he said.
Speaking exclusively to Cointelegraph, Beylina said that 2024 will be a litmus test to see how different networks of the Polygon ecosystem scale and integrate by implementing zero-knowledge proofs (ZK-proofs).
“2024 will be very much about Polygon 2.0, all these networks connected, sharing the fluidity, sharing the integration between the networks with different flavors.”
Beylina added that many of the networks that make up the Polygon ecosystem feature their own tokens, series and data availability solutions. The evolution of Polygon 2.0 is set to include several improvements that will unify these various protocols from ZK-proof technology to a “continuous, infinite blockspace”.
Scaling Technology The company announced Polygon 2.0 in June 2023, outlining plans for a scalable ecosystem consisting of four protocol layers. The staking, interoperability, execution and authentication layers play a role in creating interconnected on-chain ecosystems for rapid value transfer and data exchange.
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2023 is an important year for Polygon, Baylina reflects, with several products shipped that add performance to the scalable protocol and allow developers to build decentralized applications (DApps) and interoperable services.
“This has been an incredible year for Polygon; the launch of the Zero Knowledge Ethereum Virtual Machine (zkEVM) was just as big a milestone as the first. Also, the creation, design and announcement of Polygon 2.0 is an important milestone with proof-of-stake integration and all these layers of integration,” said Beylina.
Polygon has released its open source zkEVM mainnet beta in March 2023, which includes reduced transaction costs and a number of smart contract agreements. The technology allows thousands of transactions to be distributed off-chain, with cryptographic verification of a small summary of data posted on the Ethereum mainnet.
Polygon's zkEVM simulates the Ethereum mainnet transaction execution environment. Open source zkEVM enables DApps to scale at transaction volume, unlocking high performance.
The September 2023 release of the Polygon Chain Development Kit (CDK) dramatically opened up the ecosystem for new development. Beylina previously told Cointelegraph about the introduction of the service, which will allow developers to launch ZK-powered layer-2 protocols on Ethereum tailored to their project's requirements.
The main feature is that the Polygon CDK enables automatic access to liquidity across all Polygon chains and the wider Ethereum ecosystem, “at scale on demand, without splitting liquidity.”
Beylina described the polygon's current state as “a single-star constellation zkEVM.” Polygon's proof-of-stake legal transition to zkEVM will accelerate the scaling of the network and allow ecosystem protocols to interconnect, Beylina explained.
“it's complicated. It is not an easy task. Polygon is a decentralized system. So first there must be an agreement for the switch. After that, moving all the bridges, the network continues and provides continuity for all these applications. This is a challenge,” added Beylina.
Polygon released three Polygon Improvement Proposals (PIP) in September 2023. These will be the transition proposal and Polygon's (MATIC) tokens will be Pol Tokens, which will be the native token of Polygon's proof-of-stake protocol.
PIP-17 includes initiation of upgrade from MATIC to POL. This includes the transition to POL as a native gas token and ecosystem token for polygons, as well as the launch of a transition layer for polygon population chains.
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