Enhancing Security: Polygon Co-founder Proposes ‘zkEVM Validium’ Upgrade

Mihailo Bjelic, co-founder of Polygon, has put forth a proposal to upgrade the Polygon proof-of-stake (PoS) network to a “zkEVM validium” version, as revealed in a forum post on June 20. This proposed upgrade aims to leverage zero-knowledge proofs to bolster the network’s security.

Polygon PoS, a scaling solution built on Ethereum, currently boasts more than $900 million in total value locked within its contracts and facilitates over 2 million transactions per day. Initially launched in 2019, Polygon expanded its offerings in March by introducing Polygon zkEVM, a network that employs zero-knowledge proof rollups to enhance Ethereum’s scalability.

In Bjelic’s recent post, he suggested upgrading the existing PoS network to a “zkEVM” version, aligning both networks to rely on zero-knowledge proofs. However, unlike the network launched in March, the upgraded Polygon PoS version would not function as a “rollup,” as clarified by Bjelic. In other words, it would not store compressed transaction data on the Ethereum network. Instead, it would adopt a “validium” model, where only validation proofs reside on layer 1, while the actual transaction data is stored on a separate chain.

This approach would allow Polygon PoS to maintain lower transaction fees compared to Polygon zkEVM. Furthermore, it would enhance the security of Polygon PoS by inheriting the security protocols of Ethereum, explained the co-founder.

Following the implementation of this upgrade, Bjelic proposed that Polygon zkEVM could be utilized for high-value transactions requiring utmost security, while Polygon PoS could serve as the preferred network for gaming and social media enthusiasts. He highlighted the benefits, stating:

“The upgraded Polygon PoS (zkEVM validium) would offer very high scalability and very low fees, with the tradeoff of storing transaction data locally instead of on Ethereum. It would be a great fit for applications that have high transaction volume and require low transaction fees, e.g., Web3 gaming and social.”

Bjelic offered a timeline for the potential implementation, suggesting that his informal proposal could evolve into a formal Polygon Improvement Proposal by November, with the implementation on the mainnet slated for sometime between February and March 2024.

The launch of Polygon zkEVM and the proposed upgrade to Polygon PoS are integral components of Polygon’s larger vision to establish a “Supernet” that unifies various application-specific chains. This ambitious project, dubbed “Polygon 2.0,” is underway.

It’s worth noting that the native coin of the Polygon ecosystem, known as “”, was recently delisted by eToro on June 13. This action followed allegations by the United States Securities and Exchange Commission claiming that the coin had been sold as an unregistered security. The Polygon team, however, has denied any violations of U.S. laws related to their fundraising activities.

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