Mihailo Bjelic, co-founder of Polygon, recently revealed a proposal to upgrade the Polygon proof-of-stake (PoS) network to a "zkEVM validium" version. The upgrade, based on zero-knowledge proofs, aims to bolster the network's security . Polygon PoS, an Ethereum scaling solution, has gained significant traction since its launch in 2019, boasting over $900 million in locked value and processing more than 2 million daily transactions. In March, the Polygon team introduced Polygon z kEVM, which utilizes zero-knowledge proof rollups to scale Ethereum.
Bjelic's proposal suggests upgrading the existing PoS network to a zkEVM version, aligning both networks to rely on zero-knowledge proofs. However, unlike the recently launched network, the new Polygon PoS version would not utilize rollups. Instead, it would adopt a "validium" " approach, storing validation proofs at layer 1 while housing actual transaction data on a separate chain. This compromise would enable Polygon PoS to offer lower transaction fees compared to Polygon zkEVM, while still benefiting from the enhanced security inherited from Ethereum.
Bjelic envisions that, once implemented, Polygon zkEVM could be utilized for high-value transactions demanding stringent security measures, while Polygon PoS could cater to gaming and social media enthusiasts. The upgraded Polygon PoS (zkEVM valid ium) would deliver high scalability, low fees, and the ability to store transaction data locally. This configuration would be ideal for applications like Web3 gaming and social platforms. The timeline proposed by Bjelic suggests that the informal proposal could evolve into a formal Polygon improvement proposal by November, with the upgrade p potentially being implemented on the mainnet between February and March 2024. These developments align with Polygon's broader vision of creating a "supernet," known as Polygon 2.0, that unifies various application-specific chains.
Additionally, it is worth noting that the native token of the Polygon ecosystem faced a delisting by eToro on June 13 due to the SEC's claim that it had been sold as an unregistered security. The Polygon team, however, has refused any violations of US laws in their fundraising activities.
