- Polygon 2.0 is devised to expand Ethereum’s capabilities to internet-scale, introducing unlimited scalability and unified liquidity.
- The proposal aims to merge the advantages of ‘Megachains’ and ‘Multichains’, addressing the challenges in current blockchain ecosystems.
In a notable move towards harnessing unlimited scalability and unified liquidity, Polygon 2.0 is setting out to amplify Ethereum to the scale of the internet. By introducing a new architectural approach, this proposal could revolutionize the way we perceive blockchain ecosystems, aiming to build the value layer of the internet.
2/ First, definitions. What does it mean to “scale” Ethereum?
It boils down to a single, precious resource: Blockspace.
How much demand is there for inclusion in a block, what is the supply available, and how is that supply delivered?
— Polygon (@0xPolygon) June 22, 2023
To understand the significance of this leap, we need to clarify what ‘scaling’ Ethereum means. Fundamentally, it pertains to the resource of ‘blockspace’, reflecting the demand for inclusion in a block, the supply available, and its delivery mechanism.
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Various protocol designs have, up until now, pursued two primary methods to augment blockspace: ‘Megachains’ and ‘Multichain’ environments. Megachains, such as Polygon’s Proof of Stake (PoS), simply expand node requirements, allowing more transactions (txns) per block. Although effective, this design faces certain drawbacks.
Over time, the accumulating data, or ‘state bloat’, could potentially impair performance, leading to network lags. Furthermore, ‘contention’ arises since even megachains have a limit to the number of transactions interacting with the same state. Consequently, users may encounter stringent throughput limitations for popular applications.
Conversely, ‘Multichain’ ecosystems like Polygon Supernets leverage numerous independent chains for scalability. Despite each individual network possibly having lower throughput than a megachain, the aggregate throughput is higher. However, this approach fragments liquidity and value, which is a trade-off.
When multichain ecosystems amplify blockspace, they do so at the cost of unity. Chains with high liquidity tend to experience the most activity, as users consistently seek abundant blockspace and profound liquidity. Having either of the two simply doesn’t suffice.
Traditional blockchain ecosystems encounter a dilemma; scalability reaches a limit, or liquidity gets fractured. Thus, both megachains and multichains are incomplete solutions to the scalability question. In light of this, the principles steering Polygon 2.0 take a bold step to reimagine these models.
Polygon 2.0 aims to integrate the superior features of megachains—access to deep, unified liquidity—and multichains—increased blockspace. This strategy represents a radical shift in how we can optimize blockchain capabilities, potentially paving the way for a more scalable, liquid, and efficient future in the realm of digital assets.
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