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

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The Matic Community, a undertaking 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 change into a layer-two aggregator.

Polygon is got down to support other Ethereum scalability solutions, notably Optimistic Rollups, ZkRollups and StarkWare’s Validium, along with its in-house platforms. The technique shall be carried out by way of a brand new Polygon SDK, which is able to permit 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 strategy additionally entails a wide range of interoperability mechanisms. These embody asynchronous messaging techniques based mostly on the Ethereum Digital Machine, meant for EVM-compatible chains; messaging based mostly on state channels, a extra complicated model of the Lightning Community’s core idea; in addition to a possible “overlay rollup” that mixes different layer-two platforms and permits for immediate inter-rollup transactions. Polygon would keep full tethering to Ethereum by way of a wide range of layer-two safety mechanisms, along with utilizing Matic’s present asset bridging implementation.

As a part of the brand new technique, the undertaking additionally onboarded notable Ethereum builders and influencers like Hudson Jameson, Ryan Sean Adams, Anthony Sassano and John Lilic as advisors. In accordance with Nailwal, among the advisors described Polygon’s strategy as a type of “Polkadot on Ethereum,” which isn’t an official tagline adopted by the group however nonetheless gives an “simpler to know narrative for the group.”

Polygon’s SDK and platform would remodel Ethereum right into a multi-chain system, which the group admits isn’t not like what different tasks like Polkadot, Cosmos or Avalanche do. Nonetheless, Nailwal believes that the Ethereum-centric technique gives a number of vital benefits over competing techniques. Polygon would profit from Ethereum’s common community impact of DApps and adoption, whereas additionally being “inherently safer” on account 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 will probably assist.” The platform can incorporate any Ethereum scalability answer, whereas additionally adopting “Ethereum’s ethos of open innovation.”

Polygon’s technique, if efficiently carried out, may have main repercussions on the Ethereum ecosystem. Its new “rollup-centric” roadmap would see shards getting used to tether a wide range of layer-two options. However whereas sharded architectures incorporate cross-shard communication by design, interoperability between layer-two chains is much less speedy and infrequently requires going by way of the primary Ethereum blockchain first. For tasks in decentralized finance, the place simple composability is vital, this difficulty may 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, simple interoperability might be key to making sure that Ethereum’s present roadmap gives sensible scalability for DApps.