Proposed upgrade to improve security zkEVM ‘validium’.
On June 20, Polygon co-founder Mihailo Bjelic proposed upgrading the Polygon proof-of-stake (PoS) network to a “zkEVM validium” version, which would rely on zero-knowledge proofs to increase security. This proposal was shared on a forum.
There may be huge changes to Polygon in the near future. Mihailo Bjelic shared a polygon improvement proposal a few hours ago which discussed upgrading polygon POS to zkEVM Validium. Polygon POS is facing three key challenges…
— Hitesh Malviya (@hmalviya9) June 20, 2023
Polygon PoS is a solution for scaling Ethereum, with over $900 million in total value locked within its contracts and over 2 million transactions per day. It was first launched in 2019. In March, the Polygon team launched a second network, Polygon zkEVM, that uses zero-knowledge proof rollups to scale Ethereum.
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In the June 20 post, Bjelic proposed upgrading the old PoS network to a zkEVM version, making both networks rely on zero-knowledge proofs. However, the new version of Polygon PoS will not be a “rollup” and will not store compressed transaction data on Ethereum. Instead, it will be a “validium” that stores only validation proofs on layer 1, while the actual transaction data will be kept on a separate chain.
This compromise will allow Polygon PoS to have lower transaction fees than Polygon zkEVM. It will also increase the security of Polygon PoS, since it will allow the network to inherit Ethereum’s security. Once the upgrade is implemented, Polygon zkEVM may be used for high-value transactions where security is of the utmost importance, whereas Polygon PoS may become the network for gaming and social media enthusiasts.
Bjelic suggested that this upgrade could be implemented by November and could be implemented on mainnet between February and March 2024.
The launch of Polygon zkEVM and upgrading of Polygon PoS is part of a larger plan by the team to create a “Supernet” uniting many different application-specific chains. The project is called “Polygon 2.0.”
The native coin of the Polygon ecosystem, called ”MATIC,” was delisted by eToro on June 13 after the United States Securities and Exchange Commission claimed that it had been sold as an unregistered security. The Polygon team has denied that its fundraising violated any U.S. laws.