Polygon Co-Founder Proposes ‘Validium’ Upgrade to Enhance Security of zkEVM

Upgrade of Polygon Proof of Stake Network

Mihailo Bjelic, co-founder of Polygon, has suggested that the Polygon Proof of Stake (PoS) network be upgraded to a “zkEVM validium” version, as outlined in a forum post from June 20th. The proposed upgrade would use zero-knowledge proofs to increase network security.

Polygon PoS, an Ethereum scaling solution, has a total value of over $900 million locked within its contracts and processes more than 2 million transactions daily. Initially launched in 2019, the Polygon team unveiled a second network, Polygon zkEVM, in March of the same year. This network employs zero-knowledge proof rollups to scale Ethereum.

In Bjelic’s June 20 post, it was suggested to upgrade the existing PoS network to a zkEVM version, making the two networks both rely on zero-knowledge proofs. However, the new version of Polygon PoS will not be a “rollup”, as opposed to the one that was launched in March, as Bjelic clarified. In other words, it will not store the compressed transaction data on Ethereum; rather, it will be a “validium” that stores only validation proofs on layer 1, while the actual transaction data will be kept on a separate chain.

This agreement will enable Polygon PoS to have fees that are lower than those of Polygon zkEVM. It will also bolster the security of Polygon PoS, since it will enable the network to gain the security of Ethereum, the co-founder stated.

What is the need for data availability in ZK-rollups?

Once the upgrade is put into effect, Polygon zkEVM could be used for transactions that require the utmost security, while Polygon PoS may become the network of choice for gaming and social media aficionados, Bjelic proposed, expressing:

He proposed that his informal suggestion could be formalized as a Polygon Improvement Proposal (PIP) by November and be deployed on the mainnet between February and March of 2024.

Polygon 2.0: Creating a Supernet

The team behind Polygon has a grand plan to create a “Supernet” that brings together multiple application-specific chains, beginning with the launch of Polygon zkEVM and the upgrade of Polygon PoS. This project is referred to as “Polygon 2.0”.

On June 13, eToro delisted the native coin of the Polygon ecosystem, named “MATIC”, following the United States Securities and Exchange Commission’s allegation that it had been sold as an unregistered security. Nevertheless, the Polygon team has rejected the idea that their fundraising was in breach of any U.S. regulations.