Matic rebrands to Polygon in pursuit of ‘Polkadot on Ethereum’ technique

The Matic Community, a venture creating an Ethereum-based layer-two answer and an impartial proof-of-stake blockchain, introduced Tuesday that it might rebrand to Polygon. Whereas the present merchandise and the token would stay largely the identical, the brand new branding indicators a strategic change to grow to be a layer-two aggregator.

Polygon is got down to help different Ethereum scalability options, notably Optimistic Rollups, ZkRollups and StarkWare’s Validium, along with its in-house platforms. The technique might be applied by a brand new Polygon SDK, which can enable builders to construct their DApps on a scalable and Ethereum-anchored infrastructure, with out having to decide on any know-how particularly.

Sandeep Nailwal, co-founder of Matic and Polygon, defined that the method additionally entails quite a lot of interoperability mechanisms. These embrace asynchronous messaging programs primarily based on the Ethereum Digital Machine, meant for EVM-compatible chains; messaging primarily based on state channels, a extra advanced model of the Lightning Community’s core idea; in addition to a possible “overlay rollup” that mixes different layer-two platforms and permits for fast inter-rollup transactions. Polygon would keep full tethering to Ethereum by quite a lot of layer-two safety mechanisms, along with utilizing Matic’s present asset bridging implementation.

As a part of the brand new technique, the venture additionally onboarded notable Ethereum builders and influencers like Hudson Jameson, Ryan Sean Adams, Anthony Sassano and John Lilic as advisors. In line with Nailwal, a few of the advisors described Polygon’s method as a sort of “Polkadot on Ethereum,” which isn’t an official tagline adopted by the staff however nonetheless presents an “simpler to know narrative for the neighborhood.”

Polygon’s SDK and platform would rework Ethereum right into a multi-chain system, which the staff admits just isn’t not like what different tasks like Polkadot, Cosmos or Avalanche do. Nonetheless, Nailwal believes that the Ethereum-centric technique presents a number of vital benefits over competing programs. Polygon would profit from Ethereum’s normal community impact of DApps and adoption, whereas additionally being “inherently safer” as a result of Ethereum being the bigger and extra battle-tested blockchain.

Lastly, Nailwal stated that Polygon is “extra open and highly effective, primarily when it comes to structure sorts it may help.” The platform can incorporate any Ethereum scalability answer, whereas additionally adopting “Ethereum’s ethos of open innovation.”

Polygon’s technique, if efficiently applied, might have main repercussions on the Ethereum ecosystem. Its new “rollup-centric” roadmap would see shards getting used to tether quite a lot of layer-two options. However whereas sharded architectures incorporate cross-shard communication by design, interoperability between layer-two chains is much less rapid and sometimes requires going by the principle Ethereum blockchain first. For tasks in decentralized finance, the place straightforward composability is essential, this difficulty might imply that they must choose “the successful rollup” even when it could be overcrowded or in any other case not appropriate for his or her wants. Thus, straightforward interoperability may very well be key to making sure that Ethereum’s present roadmap presents sensible scalability for DApps.