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Polygon co-founder proposes zkEVM validium upgrade to improve security Polygon co-founder Mihailo Bjelic has put forward a proposal to upgrade the Polygon proof-of-stake (PoS) network to a zkEVM validium version. This upgrade would rely on zero-knowledge proofs to enhance security. The Polygon PoS is a scaling solution built on Ethereum with over $900 million in total value locked and more than 2 million transactions per day. The network was first launched in 2019. In the proposal Bjelic suggests upgrading the old PoS network to a zkEVM (zero-knowledge Ethereum Virtual Machine) version. This would align both the Polygon PoS and the recently launched Polygon zkEVM networks to rely on zero-knowledge proofs. However the new version of the Polygon PoS will not be a rollup unlike the network launched in March. Instead it will be a validium that stores only validation proofs on layer 1 while keeping the actual transaction data on a separate chain. Implementing this upgrade will allow Poly...
Polygon co-founder proposes zkEVM validium upgrade to improve security Polygon co-founder Mihailo Bjelic has put forward a proposal to upgrade the Polygon proof-of-stake (PoS) network to a zkEVM validium version. This upgrade would rely on zero-knowledge proofs to enhance security. The Polygon PoS is a scaling solution built on Ethereum with over $900 million in total value locked and more than 2 million transactions per day. The network was first launched in 2019. In the proposal Bjelic suggests upgrading the old PoS network to a zkEVM (zero-knowledge Ethereum Virtual Machine) version. This would align both the Polygon PoS and the recently launched Polygon zkEVM networks to rely on zero-knowledge proofs. However the new version of the Polygon PoS will not be a rollup unlike the network launched in March. Instead it will be a validium that stores only validation proofs on layer 1 while keeping the actual transaction data on a separate chain. Implementing this upgrade will allow Poly...
**Polygon co-founder proposes zkEVM ‘validium’ upgrade to improve security** Polygon co-founder Mihailo Bjelic has put forward a proposal to upgrade the Polygon proof-of-stake (PoS) network to a “zkEVM validium” version. This upgrade would rely on zero-knowledge proofs to enhance security. The Polygon PoS is a scaling solution built on Ethereum, with over $900 million in total value locked and more than 2 million transactions per day. The network was first launched in 2019. In the proposal, Bjelic suggests upgrading the old PoS network to a zkEVM (zero-knowledge Ethereum Virtual Machine) version. This would align both the Polygon PoS and the recently launched Polygon zkEVM networks to rely on zero-knowledge proofs. However, the new version of the Polygon PoS will not be a rollup, unlike the network launched in March. Instead, it will be a “validium” that stores only validation proofs on layer 1, while keeping the actual transaction data on a separate chain. Implementing this upgrade will allow Polygon PoS to have lower transaction fees compared to Polygon zkEVM. Moreover, it will bolster the security of Polygon PoS by leveraging Ethereum’s security features. This compromise creates a network with scalability, low fees, and enhanced security, making it ideal for applications like Web3 gaming and social media. Bjelic proposes a timeline for the upgrade, suggesting that the informal proposal could transform into a formal Polygon Improvement Proposal by November. The implementation on the mainnet could then follow between February and March 2024. The upgrade to Polygon zkEVM and the enhancement of Polygon PoS are steps towards the creation of a “Supernet” by the Polygon team. This Supernet aims to unite various application-specific chains in what is referred to as “Polygon 2.0.” Recently, the native coin of the Polygon ecosystem, MATIC, faced delisting on eToro due to allegations of being sold as an unregistered security by the United States Securities and Exchange Commission. The Polygon team has denied any violation of U.S. laws in their fundraising efforts. **Editor Notes** Polygon co-founder Mihailo Bjelic’s proposal to upgrade the Polygon PoS network to a zkEVM validium version highlights the team’s commitment to enhancing security while maintaining scalability. This move can potentially streamline high-value transactions while catering to the needs of gaming and social media enthusiasts. As the Polygon ecosystem evolves with its grand plan for a Supernet, it will be interesting to see how the upgrade unfolds and contributes to the overall growth of the network. For more news and updates on the crypto industry, visit [Uber Crypto News](https://ift.tt/2xL9TON) https://ift.tt/TSEQrOd
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Polygon co-founder proposes zkEVM validium upgrade to improve security Polygon co-founder Mihailo Bjelic has put forward a proposal to upgrade the Polygon proof-of-stake (PoS) network to a zkEVM validium version. This upgrade would rely on zero-knowledge proofs to enhance security. The Polygon PoS is a scaling solution built on Ethereum with over $900 million in total value locked and more than 2 million transactions per day. The network was first launched in 2019. In the proposal Bjelic suggests upgrading the old PoS network to a zkEVM (zero-knowledge Ethereum Virtual Machine) version. This would align both the Polygon PoS and the recently launched Polygon zkEVM networks to rely on zero-knowledge proofs. However the new version of the Polygon PoS will not be a rollup unlike the network launched in March. Instead it will be a validium that stores only validation proofs on layer 1 while keeping the actual transaction data on a separate chain. Implementing this upgrade will allow Poly...