Polygon 2.0 Integrate Re-staking Mechanism With ZK Technology Emphasis
Key Points:
- Polygon 2.0 will use the new commit and interoperability layer to unify its ZK chain.
- The migration to Polygon 2.0 is expected to be completed in the first quarter of next year, with the current roadmaps starting in 2023.
- Polygon 2.0 will integrate a decentralized staking layer, allowing MATIC re-staking across different networks.
Polygon Labs has announced plans to merge Zero-Knowledge chains using Re-staking and a bridge to make Polygon 2.0 a synchronous Layer-2 ecosystem.
The design of Polygon 2.0 will integrate Zero-Knowledge to support all networks. This move comes shortly after the project announced its proposal to migrate the Polygon PoS network to zkEVM Validium. Before that, another zk network operating in parallel, Polygon zkEVM, was also broadcast in March 2023.
The proposed Polygon 2.0 network will include an ethereum virtual machine client and a shared ZK proof implementation, which the team calls an “interoperability layer” or “common bridge.” The in-house developed cryptographic algorithm Plonky3 will support the interoperability layer, and the result will be a single high-performance proof-of-work system that underpins the entire network.
With the new architecture, an orchestration layer will exist to confirm cross-chain transactions, while ZK proofs will provide a shared bridge. The public bridge will connect all Polygon chains and implement ZK-based security proofs on Ethereum to protect all Polygon chains simultaneously.
The plan also offers token resetting, allowing investors to stake the same token across multiple projects simultaneously. And Polygon plans to give developers the ability to “add new decentralized chains on demand,” according to a statement – joining competitors including Arbitrum, Optimism, and zkSync’s Matter Labs already make their network easier to replicate, in pursuit of promoting broader ecosystems of specialized but compatible blockchains.
The proposal also calls for an emphasis on resetting, allowing users to reuse their staked cryptocurrencies to ensure the security of other applications on the blockchain. Many protocols, like Eigenlayer, have recently accepted resets.
The expected transition to Polygon 2.0 is scheduled for the first quarter of next year.
“Polygon 2.0 aims to create an ecosystem where we can continuously add block space and unify them with a shared bridge and an interoperability layer (…). Unified liquidity is everything for Polygon in the coming year.” Polygon co-founder Brendan Farmer said in an interview with The Block.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Foxy
Coincu News
Author
Blockchain
Polygon 2.0 Integrate Re-staking Mechanism With ZK Technology Emphasis
Key Points:
- Polygon 2.0 will use the new commit and interoperability layer to unify its ZK chain.
- The migration to Polygon 2.0 is expected to be completed in the first quarter of next year, with the current roadmaps starting in 2023.
- Polygon 2.0 will integrate a decentralized staking layer, allowing MATIC re-staking across different networks.
Polygon Labs has announced plans to merge Zero-Knowledge chains using Re-staking and a bridge to make Polygon 2.0 a synchronous Layer-2 ecosystem.
The design of Polygon 2.0 will integrate Zero-Knowledge to support all networks. This move comes shortly after the project announced its proposal to migrate the Polygon PoS network to zkEVM Validium. Before that, another zk network operating in parallel, Polygon zkEVM, was also broadcast in March 2023.
The proposed Polygon 2.0 network will include an ethereum virtual machine client and a shared ZK proof implementation, which the team calls an “interoperability layer” or “common bridge.” The in-house developed cryptographic algorithm Plonky3 will support the interoperability layer, and the result will be a single high-performance proof-of-work system that underpins the entire network.
With the new architecture, an orchestration layer will exist to confirm cross-chain transactions, while ZK proofs will provide a shared bridge. The public bridge will connect all Polygon chains and implement ZK-based security proofs on Ethereum to protect all Polygon chains simultaneously.
The plan also offers token resetting, allowing investors to stake the same token across multiple projects simultaneously. And Polygon plans to give developers the ability to “add new decentralized chains on demand,” according to a statement – joining competitors including Arbitrum, Optimism, and zkSync’s Matter Labs already make their network easier to replicate, in pursuit of promoting broader ecosystems of specialized but compatible blockchains.
The proposal also calls for an emphasis on resetting, allowing users to reuse their staked cryptocurrencies to ensure the security of other applications on the blockchain. Many protocols, like Eigenlayer, have recently accepted resets.
The expected transition to Polygon 2.0 is scheduled for the first quarter of next year.
“Polygon 2.0 aims to create an ecosystem where we can continuously add block space and unify them with a shared bridge and an interoperability layer (…). Unified liquidity is everything for Polygon in the coming year.” Polygon co-founder Brendan Farmer said in an interview with The Block.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Foxy
Coincu News
Other Posts
Related Posts
Latest
USDC and CCTP to launch on Aptos, with Stripe adding Aptos support in crypto products
Best Cryptos to Buy: Qubetics Set to Rise, Bitcoin Knocks at $100k Milestone, Avalanche to Release 1.67M Tokens
Ike Goes Live on Mainnet: Unlocking Liquid Staking on Aleph Zero
Press Release
USDC and CCTP to launch on Aptos, with Stripe adding Aptos support in crypto products
Best Cryptos to Buy: Qubetics Set to Rise, Bitcoin Knocks at $100k Milestone, Avalanche to Release 1.67M Tokens
