Polygon Labs Unveils AggLayer: A Protocol for Unifying the Blockchain Landscape
Summary:
Polygon Labs, a company specializing in Ethereum-scaling solutions, has introduced a new protocol called AggLayer. The protocol aims to integrate various blockchain networks into a seamless network, similar to the internet, eliminating the need for repeated bridging. AggLayer gathers zero-knowledge proofs from multiple blockchains to merge layer 1 and 2 networks into a single entity. According to Polygon, the concept simplifies user experience and removes the limitations of scalability and interoperability currently faced by blockchains. The first version of AggLayer is set for a February release, with an upgraded version to follow later in the year.
Polygon Labs, a company specializing in Ethereum-scaling solutions, has unveiled a new protocol aimed at bridging the gap in the currently fragmented blockchain landscape. The protocol, known as AggLayer, intends to turn a variety of networks into a consolidated chain, according to an announcement made by Polygon on January 24. Beginning next month, the AggLayer solution will gather zero-knowledge (ZK) proofs from diverse blockchains and facilitate the merging of layer 1 and 2 networks into a single entity.
The proposed user experience has been likened to browsing the internet by Polygon Labs, negating the need for the tedious and repeated process of bridging for the usage of other systems.
A graphic illustrating the AggLayer protocol was provided by Polygon Labs. For instance, it demonstrated a scenario where an Ethereum L2 chain X1 user possessing Dai (DAI) can acquire a nonfungible token (NFT) on Polygon's zero knowledge Ethereum Virtual Machine (zkEVM) without pre-emptive bridging of DAI to the zkEVM.
Polygon Labs emphasized that using this system would give users the impression of operating on a single chain, making it easier to interact with decentralized applications without needing to understand that they're accessing a different chain.
The creation of the AggLayer protocol is driven by Polygon’s assertion that the potential of blockchain lies in a fused and scalable network, akin to the Internet. However, these possibilities are hampered by the current state of blockchain, which is characterized by isolated systems that lack compatibility, creating obstacles for users and limiting scalability.
Polygon Labs anticipates that AggLayer will enhance both the primarily used monolithic and modular blockchain systems. It pointed out that monolithic systems such as Bitcoin contain functions like transactions and data availability on one layer, while modular blockchains, like post-Merge Ethereum, spread these functions among different layers to boost efficiency.
According to Polygon Labs, AggLayer, with the help of ZK technology, combines the advantages of both monolithic and modular systems. It revealed that the first version will be launched in February, with an upgraded version, capable of handling asynchronous cross-chain transactions, set for a later release during the year.
Published At
1/25/2024 6:50:00 AM
Disclaimer: Algoine does not endorse any content or product on this page. Readers should conduct their own research before taking any actions related to the asset, company, or any information in this article and assume full responsibility for their decisions. This article should not be considered as investment advice. Our news is prepared with AI support.
Do you suspect this content may be misleading, incomplete, or inappropriate in any way, requiring modification or removal?
We appreciate your report.