Polygon Plans To Merge PoS Chain With zkEVM
MATIC Is Down 30% In June...
- Polygon plans to unify its PoS sidechain and zkEVM Layer 2 as part of its Polygon 2.0 overhaul.
- Unifying the two blockchains would create the third-largest Layer 2 network with nearly $1B in total value locked.
- The PoS Chain hosts the majority of Polygon TVL, while zkEVM offers improved performance and security guarantees.
- Users on both chains would be able to interact and transact seamlessly without bridging back to Ethereum.
- Polygon's MATIC token has seen a 30% decrease in the past month after being claimed as an unregistered security by the SEC.
- Polygon has allocated $1B to investing in zero-knowledge technologies in 2021.
- Engineers have proposed converting the Polygon PoS sidechain into a Layer 2 zkEVM validium, which could take place in Q1 2024.
- The plan to unify the PoS Chain and zkEVM Layer 2 is contingent on the proposal passing.
- Polygon aims to leverage multi-chain architecture for scalability gains without liquidity fragmentation.
- Polygon 2.0 will introduce shared infrastructure, including a cross-chain bridge and staking layer.
- PancakeSwap, a leading decentralized exchange, has launched on Polygon zkEVM.
The article primarily focuses on the developments and plans of Polygon, highlighting the potential benefits of unifying its PoS sidechain and zkEVM Layer 2. However, it also mentions the decline in MATIC token value and the SEC's claim of it being an unregistered security.