Dialogue with Polygon Co-founder: From Matic to POL, the Endgame of Polygon 2.0
Sandeep Nailwal said that their goal is to end the era of Web3 infrastructure, making applications, rather than infrastructure, the main focus of the ecosystem.Organization & Compilation: Deep Tide TechFlow
Polygon is one of the most commonly used chains in crypto, and its various initiatives to expand beyond the ecosystem are a significant achievement in itself. However, in the past, some have criticized Polygon, claiming it is "just a sidechain" and cannot "align with Ethereum."
But with the release of Polygon 2.0, these criticisms may fade away. Regarding the ultimate goal of Polygon, the renaming of the Matic token, ZK Supernets, and the subsequent development strategy of Polygon, the two co-founders, Nailwal & Mihailo Bjelic, shared their views and insights.
Their goal is to "end the era of Web3 infrastructure, making applications, rather than infrastructure, the protagonists of the ecosystem."
Here are the main points from this conversation, compiled by Deep Tide:
- Host: David, bankless
- Speakers: Sandeep Nailwal (@sandeepnailwal) & Mihailo Bjelic (@MihailoBjelic), co-founders of Polygon
- Video attribution: Bankless Podcast
About the Design of Polygon 2.0
The design philosophy of Polygon 2.0: Sandeep Nailwal emphasized that the design philosophy of Polygon 2.0 is derived from the Web 2.0 internet, particularly its two key features: infinite scalability and unified liquidity.
He explained that if Web 3.0 wants to reach the scale of Web 2.0 (the current internet), it needs to possess these two characteristics. Infinite scalability means that as more applications and software are created, the network can continue to grow. Unified liquidity means that information and value can flow seamlessly within the network.
The technical architecture of Polygon 2.0: Sandeep and Mihailo discussed the technical architecture of Polygon 2.0 in detail. They mentioned a concept called the "aggregation layer," which can recursively combine ZK (zero-knowledge proofs) and submit a single proof on Ethereum. This way, a transaction on one chain can be verified on another chain, enabling cross-chain transactions.
The development history of Polygon: Mihailo Bjelic reviewed the development history of Polygon, where they encouraged experimentation, developed multiple clients, conducted several ZK projects, and even experimented with data availability. They learned a lot from this process and gradually moved towards a more concrete architecture. He emphasized that this process has lasted nearly two years, and they are now very confident in this architecture.
Future plans for Polygon: They also mentioned future plans for Polygon, including the transition of Polygon POS (Proof of Stake) to ZK and their confidence in this new architecture. They stated that this new architecture is the result of their collaboration with multiple ZK teams over the past two years, and they are very satisfied and confident in it.
The Role of ZK and PoS Upgrade
The application of zero-knowledge proofs (ZK) in Polygon 2.0: Sandeep explained how zero-knowledge proofs (ZK) are used to scale blockchain networks. In a blockchain network, if you need to prove the validity of a transaction, you do not need to provide all the transaction data; you only need to provide a ZK proof that proves the transaction is valid, which can greatly enhance the scalability of the blockchain network.
Advantages of ZK: Sandeep highlighted the advantages of ZK, including its validity and security. Since ZK proofs are validity proofs, once you submit a ZK proof on Ethereum, Ethereum can confirm that the transaction is valid without needing to wait for a 7-day withdrawal period.
Moreover, due to the lower computational cost of ZK proofs, you can submit a large number of ZK proofs on Ethereum, achieving large-scale scalability.
Upgrade of the Polygon POS chain: Sandeep and Mihailo discussed the POS upgrade. They emphasized that they do not want the Polygon POS chain to be forgotten in the vision of Polygon 2.0. Therefore, they plan to upgrade the Polygon POS chain to ZK EVM technology.
This upgrade has two main outcomes: first, the Polygon POS chain will become one of the most widely used chains, and second, this upgrade will provide higher security and consistency.
Future plans for ZK: Sandeep and Mihailo also mentioned future plans for Polygon, including continuing to optimize the performance of ZK proofs, reducing the cost of ZK proofs, and promoting the development of Polygon 2.0. They expressed confidence in the vision of Polygon 2.0 and look forward to seeing more applications and software created on Polygon 2.0.
What Users Need to Do, When to Upgrade?
During the upgrade process of the Polygon POS chain, it will be seamless for end users.
They do not need to take any special actions, as this upgrade process mainly involves validators and developers. Validators will need to upgrade their clients, similar to other upgrades or hard forks they frequently perform. Additionally, since assets on the Polygon POS chain will need to be bridged with new interoperability, the Polygon community will need to participate through voting and governance processes.
The Polygon POS chain will upgrade to a solution called "validium." In validium, the consensus layer is achieved on Ethereum, while the data layer is achieved off Ethereum.
This solution can provide higher throughput and lower transaction fees. As for the timing of the upgrade, it will depend on community feedback and the governance process.
They plan to release a formal Polygon Improvement Proposal (PIP) for community discussion within a few weeks.
After the actual PIP is released, it may take one to two months to gather community consensus. Then, the implementation process will occur in several phases.
Sandeep and Mihailo are very excited about this upgrade process, as it will make the Polygon POS chain the first decentralized layer two network in the Ethereum ecosystem.
$MATIC and $POL, the Concept of Super Tokens
The Matic token will upgrade to the POL token on a one-to-one basis. This upgrade is necessary because the token itself needs to evolve and gain new functionalities.
For all practical purposes and uses, it is simply due to the nature of the Matic ERC20 contract being non-upgradable that a new ERC20 contract, namely the POL token, needs to be deployed.
Super tokens: Sandeep Nailwal explained why they refer to the Matic token as a third-generation token. The first generation is Bitcoin, which serves as the token for the network but has no utility for holders within the network. Then came Ethereum, where each Ethereum holder can participate in the Ethereum main chain and help secure the network through staking. But this can only happen on the Ethereum network itself.
In the case of Polygon, you can use a single token to validate across hundreds of chains and play multiple roles on-chain, such as validator, sequencer, data availability provider, etc. This is the concept of the "Work Token," meaning you can use this token to perform work across a broader network, providing value to the network.
Why call it POL: Host David asked why it was named "POL" instead of "POLY," as that seems to align better with the Polygon network theme.
Sandeep Nailwal explained that they did consider naming the new token "Poly," but they found that there was already a token called "Polymath," which is a 2017 ICO project.
They did not want to confuse it with that project, so they chose the name "POL." They wanted to maintain a high-quality, three-character token name, similar to Bitcoin. Therefore, the naming of the "POL" token was primarily to avoid confusion with existing tokens and to keep a concise, high-quality token name.
Additionally, based on the new token, they proposed a new governance framework consisting of three components: protocol governance, system smart contract governance, and community treasury governance. This governance framework was developed in collaboration with the community, and they are pleased to see positive feedback from the community.
The Ultimate Goal of Polygon, ZK Supernets
Sandeep Nailwal stated that their ultimate goal has always been to create an infinitely scalable network where all chains can operate as layer two networks of Ethereum, and all chains can interoperate through ZK proofs.
He believes that this architecture can achieve infinite scalability and seamless interoperability, which is key to achieving mass adoption.
Sandeep Nailwal and Mihailo Bjelic mentioned the concept of "zkSupernets." In this architecture, multiple chains can operate as layer two networks of Ethereum, and all chains can interoperate through zero-knowledge proofs (ZK). This means that each chain can operate independently while being able to interact seamlessly with other chains.
Sandeep Nailwal explained their zkSupernets plan. They plan to upgrade the existing Polygon network to zkSupernets, which will enable the Polygon network to achieve infinite scalability and seamless interoperability. Many projects are already developing or have deployed zkSupernets, and they look forward to seeing more projects join.
Mihailo Bjelic also emphasized the importance of zkSupernets. He believes that as Web3 develops, we will see more and more dedicated chains, similar to dedicated servers in Web2. All these dedicated chains will be securely protected through ZK proofs and will connect to the same liquidity source, achieving seamless interoperability.
Sandeep Nailwal further explained that their goal is to end the era of Web3 infrastructure, making applications, rather than infrastructure, the protagonists of the ecosystem. He believes that this goal can only be achieved when the infrastructure is strong enough to support Web3's expansion to hundreds of millions of users.
