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 directly, based on a weblog submit shared with CoinDesk.
The startup at present administers a proof-of-stake (PoS) Ethereum sidechain utilizing the Plasma framework – a now out-of-favor layer 2 answer that may proceed to be hosted. Model 1 of the software program growth package (SDK) for layer 2 aggregation will probably be prepared in March, Polygon co-founder Sandeep Nailwal mentioned in a Telegram message.
“Polygon will help 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, carried out by way of Polygon’s modular SDK, will allow initiatives to pick out the scaling answer that most closely fits their wants fairly than being certain by anybody choice.”
Polygon’s rebrand and new roadmap comes at a time of elevated stress on the Ethereum principal 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 search out layer 2 options and have usually turned to numerous types of rollups like ZKR or OR.
Rollups are a throughput know-how for verifying transactions off-chain which can be then re-published on-chain. They’ve been the popular answer to Ethereum’s scaling woes, as Vitalik Buterin expressed on this autumn weblog post.
Polygon can even be capable of launch complete blockchains, much 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 certainly one of them. Presently, the Polygon SDK will allow creation of standalone chains like Polkadot’s substrate,” Nailwal mentioned.