Matic Community Now ‘Polygon’ as Platform Targets Ethereum’s L2 Woes

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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 directly, in response to a weblog put up 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 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 assist a number of layer 2 options akin to Optimistic Rollups (OR), zkRollups (ZKR), and Validium, successfully making it an L2 aggregator,” the weblog reads. “This method, carried out through Polygon’s modular SDK, will allow initiatives to pick the scaling answer that most closely fits their wants quite than being sure by anybody possibility.”

Polygon’s rebrand and new roadmap comes at a time of elevated stress on the Ethereum foremost community, which has been struggling historic payment charges. For instance, the common 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 typically turned to varied types of rollups like ZKR or OR.

Rollups are a throughput expertise for verifying transactions off-chain which are 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 may also be capable to launch entire 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 one in every of them. At present, the Polygon SDK will allow creation of standalone chains like Polkadot’s substrate,” Nailwal mentioned.

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