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

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 without delay, in keeping with a weblog publish 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 resolution that can proceed to be hosted. Model 1 of the software program growth package (SDK) for layer 2 aggregation will likely 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 strategy, applied by way of Polygon’s modular SDK, will allow tasks to pick out the scaling resolution that most accurately fits their wants fairly than being sure by anybody possibility.”

Polygon’s rebrand and new roadmap comes at a time of elevated stress on the Ethereum fundamental 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 numerous types of rollups like ZKR or OR.

Rollups are a throughput expertise for verifying transactions off-chain which can be then re-published on-chain. They’ve been the popular resolution to Ethereum’s scaling woes, as Vitalik Buterin expressed on this autumn weblog post. 

Polygon can even have the ability to 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 realize safety, Polygon core developer Mihailo Bjelic mentioned in a cellphone interview.

“The Polygon SDK is constructed to accommodate [and] mixture all such sorts of options, rollups being considered one of them. At the moment, the Polygon SDK will allow creation of standalone chains like Polkadot’s substrate,” Nailwal mentioned.