Matic Network changes its name to Polygon and aims to become an aggregator for scalability solutions for Ethereum

Matic Network, a project to develop a layer 2 solution based on Ethereum and an independent blockchain network to prove its use, announced Tuesday that it would change its name to Polygon. While the existing products and the token would remain largely the same, The new brand indicates a strategic shift to become a Layer 2 aggregator.

Polygon supports other Ethereum scalability solutions, special Optimistic rollups, ZkRollups Y. StarkWare Validiumin addition to its internal platforms. The strategy is implemented through a new Polygon SDK. This allows developers to create their DApps on a scalable infrastructure that is anchored in Ethereumwithout having to choose a specific technology.

Sandeep Nailwal, Co-founder of Matic and Polygon, explained this The approach also includes a variety of interoperability mechanisms. These include asynchronous messaging systems based on the Ethereum virtual machine, intended for EVM-compatible chains; Status channel based messaginga more complex version of the core concept of the Lightning Network; and a potential “overlay digest” that combines other Layer 2 platforms and enables instant transactions between packets. Polygon would maintain full connectivity to Ethereum through a variety of second-tier security mechanisms and additionally use Matic’s existing asset bridging implementation..

Matic Network changes its name to Polygon and aims to become an aggregator for scalability solutions for Ethereum
Matic Network changes its name to Polygon and aims to become an aggregator for scalability solutions for Ethereum

As part of the new strategy The project also brought in well-known Ethereum developers and influencers such as Hudson Jameson, Ryan Sean Adams, Anthony Sassano and John Lilic as consultants.. According to Nailwal, some of the consultants described the polygon approach as a kind of “Polkadot on Ethereum”, which is not an official catchphrase of the team. but still offers an “easier to understand narrative for the community”.

The SDK and Polygon platform would transform Ethereum into a multi-chain systemThe team admits that it is no different from other projects like Polkadot, Cosmos or Avalanche. Even so, Nailwal believes that the Ethereum-focused strategy offers several significant advantages over competing systems. Polygon would benefit from the general network effect of the introduction of DApps and Ethereum while being “inherently more secure” as Ethereum is the largest and most tried and tested blockchain network.

After all, Nailwal said Polygon is “more open and capable, mostly in terms of the types of architecture it can support”.. The platform can integrate any scalability solution from Ethereum while respecting the “Ethereum spirit of open innovation”.

Polygon’s strategy, if successfully implemented, could have a significant impact on the Ethereum ecosystem. Your new roadmap “focused on the rollup” I would see fragments being used to piece together a multitude of Layer 2 solutions. While fragmented architectures involve communication between fragments through design, Interoperability between Layer 2 chains is less immediate and often requires traversing Ethereum’s main blockchain network first. For decentralized finance projects where ease of composition is crucial, this problem could mean they would have to pick “the winning package” even if it is crowded or not suitable for their needs. So, Simple interoperability could be key to ensuring that the current Ethereum roadmap has practical scalability for DApps.

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