Matic Community Strategically Rebrands to ‘Polygon’ in a Bid to Construct the Finest Ethereum Layer 2 Options
- Matic Community rebrands to ‘Polygon’ and expands their strategic technological mission of offering quicker layer 2 options for Ethereum blockchain.
Polygon, previously Matic Community, introduced its pivoting in a shift to allow Ethereum to compete with its rival, Polkadot, by constructing sturdy, quick and environment friendly multi-chain options.
In accordance with a blog post, the Indian-based startup will incorporate a layer 2 aggregation software program improvement package (SDK), permitting initiatives to host a number of initiatives directly. This may enable builders to connect with any of their most well-liked scaling options, decreasing the burden on Ethereum, as properly.
6/ With Polygon, Ethereum turns into a full-fledged multi-chain system (aka Web of Blockchains); akin to Polkadot, Cosmos, Avalanche and so forth, however with some main upsides:
– The safety of Ethereum
– Capacity to inherit Ethereum’s community results
– Openness and better flexibility
— Polygon (beforehand Matic) (@maticnetwork) February 9, 2021
Polygon introduces a brand new safe layer 2 scaling resolution that depends on Ethereum for safety functions and sidechains that fully take care of their very own safety. The previous permits startups to give attention to their craft relatively than fear about security and make sure the initiatives attain the very best safety ranges. The standalone sidechains even have their advantages for corporations, reminiscent of sovereignty and velocity of transactions.
“The Polygon SDK is constructed to accommodate [and] combination all such sorts of options, rollups being one among them. At the moment, the Polygon SDK will allow the creation of standalone chains like Polkadot’s substrate.”
Sandeep Nailwal Polygon Co-Founder
Polygon, including to the Plasma chains already obtainable on Matic, will “help different main Layer 2 options reminiscent of Optimistic Rollups, zkRollups, Validium, and so forth., thus principally turning into one-of-a-kind “Layer 2 aggregator”, the report reads.
“Polygon SDK will help and supply a number of auxiliary options and merchandise which can lengthen Polygon functionalities, enhance the developer expertise and introduce help for particular use circumstances.”
The Polygon community goals to overpower different scalability options reminiscent of Avalanche (AVAX), Polkadot (DOT), and Cosmos (ATOM). Having constructed on the Ethereum (ETH) Community, Polygon may get pleasure from better safety ranges and develop into extra open and sturdy, feeding off the second-largest blockchain.
The previous Matic Community model will stay absolutely practical, and the MATIC token will proceed to be the native token of the community.