Polygon Labs, the engineering team behind Polygon, has recently published a groundbreaking proposal to upgrade Polygon PoS (Proof of Stake) to a zkEVM (zero-knowledge Ethereum Virtual Machine) validium. This proposed upgrade represents a significant milestone for the Polygon ecosystem, as it aims to enhance the security, performance, and integration capabilities of Polygon PoS within the Polygon 2.0 framework.
By leveraging zero-knowledge (ZK) proofs, Polygon PoS can potentially become an L2 (Layer 2) solution, reinforcing its position as one of the most successful and widely-used blockchain networks. This article explores the importance of this milestone, its implications for users, developers, and validators, and the utility of the $MATIC token in the upgraded chain.
The Polygon team envisions the mainnet deployment of the upgraded Polygon PoS network with zkEVM validium by the end of Q1 2024.
Validators and $MATIC Utility
In the upgraded Polygon PoS ecosystem, existing validators will play crucial roles in guaranteeing data availability and sequencing transactions. Validators will continue attesting to data availability, ensuring the secure and decentralized nature of Polygon PoS as a validium. Furthermore, validators will decide which transactions to include in blocks and in what order, preserving the decentralization of the network. As a result, transaction fees will flow to validators who stake $MATIC tokens, making Polygon PoS the first L2 solution with a decentralized sequencer set.