Polygon, rising from India, will bring Ether to ‘All Chains Connect’

This crypto bull market, which has lasted more than a year, is built on the infrastructure built in the last round (mainly Ether).

Polygon, rising from India, will bring Ether to 'All Chains Connect'

This crypto bull market, which has lasted for more than a year, is built on the infrastructure built in the previous round (mainly Ether).

And in the current round of ‘infrastructure movement’, it is far from proceeding to the stage of eating dividends.

For example, the “cross-chain” concept of Polka Ecology has only started the slot auction of the test network, the “storage” concept of Filecoin has not really been commercialized, while the “privacy computing” concept of Oasis and PlatON are still exploring landing cases, and Dfinity, which has the potential to reconfigure the Internet, is only the first step of the long march, and other emerging “high-performance” concept of public chains are caught in homogeneous competition.

Ether is criticized by the crypto world, but the crypto world cannot do without it. It has to be admitted that the ethereum ecosystem still occupies the center of the crypto world.

All the optimistic expectations for emerging public chains are based on one major premise – there is a window of time for emerging public chains because of the limited performance of Ether at the moment and the long-distant arrival of Ether 2.0.

The recent rise of Polygon – an aggregator of Ether Layer2 and sidechain solutions – makes the above premise no longer valid.

It is almost certain to say that the certainty of Ether becoming a ‘super application ecosystem’ has become more certain.

We can even say that we can foresee an Ether boom coming soon, without having to wait for Ether 2.0.

Before the name change: Matic, a Layer2 project rising from India

Polygon may be slightly unfamiliar to some people, and that’s because it was only changed to Polygon in February this year by the Matic Network brand upgrade.

Matic Network, which is the star Layer2 project of Ethernet, may be better known to everyone.

After all, Matic Network was launched in 2017 and had previously received seed round funding from Coinbase Ventures and had also received widespread attention as an IEO project for Coinan.

Matic has spent the last three years developing Ether Layer2 – Matic Plasma Chains, and Ether Sidechain – Matic PoS Chain.

With Layer2 and the sidechain, Matic provides a faster and extremely low cost transaction solution, supporting over 80 applications on the ethereum ecosystem, providing 7 million transactions to over 200,000 user addresses and over $75 million in funding.

This small startup team, which started in India, has also grown into a big team with more industry pattern and foresight than many public chains in these three years –

For example, they have provided over $1 million in Grants to developers, sponsored multiple hackathon, etc. (had to cue EOS ……).

In the big explosion of infrastructure layer (emerging public chains) as well as application layer (DeFi) in 2020, many developers, users and money flowed out of Ether because of the scalability and user experience issues of Ether.

This is a big challenge for Ether, but the way to deal with the challenge – Ether 2.0 – is far from quenching the thirst.

But the Matic team, which focuses on scaling for Ether, deeply perceives that most developers and projects actually prefer to build their scaling solutions in the Ether ecosystem, after all, there is no one else in the whole public chain market with its advantages in security and network effect.

While Polkadot, Cosmos, etc. are much better than Ether’s scaling environment, they are not able to share security and network effect with Ether (of course there is still great potential for future growth).

This means that there will be an unprecedented market for Ethernet extension ecosystem (Layer2 and sidechain), but the previous solution is still chicken-hearted, not smooth for users and complicated for developers, which finally led to the fragmentation of the liquidity of Ethernet extension ecosystem.

So the Matic team began to upgrade Matic to Polygon, expanding its mission and technical scope (which had to be reminiscent of Dfinity, which also met greater possibilities in the process of development).

Polygon: Let Ether go to the “interconnection of all chains

During the long development process of the Matic team for an extended Ether solution, instead of limiting itself to just going live with an easy-to-use product, it has very solidly built a series of core components, such as a wallet, a PoS token bridge, Dagger (a real-time Ether notification engine), etc.

Therefore, when the concept of “cross-chain” of Cosmos and Polkadot is becoming more and more widely accepted, Matic, which already has a lot of technical accumulation, proposes to “cross-chain” the Layer2 chains and side chains of the extended Ethernet ecosystem, which is naturally a natural step.

Matic’s brand upgrade to Polygon is not just a name change, but can be fully understood as a new Cosmos or Polkadot, providing a modular solution ecology.

Only this ecology is not independent, but built on top of the Ethernet ecology, which can easily integrate all the resources of Ethernet.

The core component of Polygon is the Polygon SDK, which supports developers to modularly build their own Layer2 chains or sidechains and makes them easy to cross-chain.

Specifically, Layer2’s scaling solution relies on Ether security rather than building its own pool of validators, which means both sufficient security and low cost, making it ideal for small DApps.

It is worth mentioning that Polygon currently only supports Plasma, but in the future will support Optimistic Rollups, zkRollups, Validium and other mainstream Layer 2 solutions, thus becoming a “Layer 2 aggregator”.

The sidechain, on the other hand, is independent of the Ethernet mainnet and has its own validator pool, which means that security is its own responsibility, and of course, it is more flexible.

Essentially, both BSC and HECO belong to Ethernet sidechains, which is the fundamental reason why BSC and HECO are rapidly gaining ground compared to other emerging public chains.

Therefore, both large projects and small applications can develop their own products (independent sidechains or Layer2 chains) based on Polygon.

Compared to the cross-chain systems of Cosmos or Polkadot, developing on Polygon allows you to share the security and network effects of Ether directly – rather than participating in an ecosystem built from scratch, which is full of unknowns (but then again, that’s where the opportunity lies).

If Polygon can really achieve the “interconnection of all chains” directly in the ethereum ecosystem, it seems that the arrival of ethereum 2.0 is not so urgent and important.

The biggest variables in the blockchain industry

Of course, this is only a theoretical prospect, if Polygon wants to build a complex and large organic ecosystem, then it is not only a matter of providing a framework standard.

After all, the complexity of developing one chain is high enough, let alone developing a cross-chain ecosystem, which inevitably requires taking into account a large number of scenarios and developing corresponding solutions and products.

In terms of the current Polygon SDK development plan, the future will provide a large number of functional modules that address scalability and improve developer experience, such as inter-chain messaging protocols and modules, data availability services, shared security services, adapters for external blockchain networks, etc.

Ultimately, developers will be able to quickly and easily develop scalable DApps and run the network using their own tokens as settlement fees, and all chains developed based on the Polygon SDK will be able to interoperate through the Matic Network.

Polygon has been making an intense series of releases lately, and it is impossible to ignore the presence of both marketing and technical products.

It is worth mentioning that Okcoin’s US branch has partnered with Polygon to enable users to directly access DeFi in the Polygon ecosystem without using an ethereum wallet.

Polygon is a dark horse that was overlooked in the crypto bull market in the past year, and now it is its turn to debut and will probably become the biggest variable in the blockchain industry, so it is necessary to revise our judgment on the future of the blockchain industry.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/polygon-rising-from-india-will-bring-ether-to-all-chains-connect/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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