Polygon will close ZKEVM and renew its strategy and leadership with Sandeep Nailwal as CEO
By Canuto
Sandeep Nailwal, co -founder of Polygon, assumes the direction of the foundation and conducts a strategic restructuring that implies the closure of the ZKEVM network, the exit of Jordi Baylina and a renewed commitment to the post chain.
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- Sandeep Nailwal is appointed CEO of the Polygon Foundation, marking a strategic and leadership change.
- Polygon will close its Zkevm by low adoption and technical difficulties, while reinforcing its focus on after.
- Jordi Baylina, Zero Knowledge Research Leader, will leave the company to start a new project.
- The redesign project its strategy to compete in the growing layer 2 of Ethereum.
Polygonone of the most important projects in the search for scalability for Ethereumhas announced a significant turn in its direction and strategy. Sandeep Nailwal, co -founder of the organization, has been appointed CEO of the Polygon Foundation.
The changes, which were first reported by news means such as COINDESK and Bloombergare framed in a context where competition between scalability solutions linked to Ethereum (Eth) has never been so intense.
Born in 2017 under the name of MATIC NETWORK, Polygon pursues the objective of reducing costs and increasing the speed of transactions in Ethereum. Its initial approach in an lateral participation test chain (POS) quickly attracted the attention of developers and users, catapulting the network as an alternative solution to congestion and high rates of the ETH ecosystem.
However, the project is not exempt from competition, since the appearance of competitors such as layers of layers 2 (Layer 2 or L2) – specifically Optimism and Arbitrum– They have relegated the prominence of Polygon In recent years.
The fall of the TVL and the pressure of layers 2
At its peak, Polygon registered a total blocked value (TVL) of USD $ 9,790 million in June 2021, according to data from Defill. Currently, the network barely maintains USD $ 1 billion, a fall close to 90% compared to its historical maximum, which has generated concern about its ability to retain users and developers.
Faced with this increasing competition, Polygon He has seen how the adoption of its ZKEVM solution – a zero -knowledge roll supposedly called to compete with the best L2 – has been disappointing. According to L2beat, Zkevm barely occupies the 27th position in Layer 2 projects, far from its most recent rivals.
ZKEVM closure and new roadmap
Reorganization includes one of the most transcendental decisions for the network: the planned closure of its main ZKEVM network by 2026. Polygon He argues that the low level of adoption, the technical limitations, and the complexity facing the community of developers have promoted the foundation to give this decisive turn. To guarantee a transition without difficulties, the ZKEVM sequencer will continue to operate for at least the next twelve months.
This structural change also translates into an important adjustment in the team: Jordi Baylina, who led the zero -knowledge research for Polygonwill leave the company to create Ziska new independent project based on ZK technology.
Baylina’s departure represents, according to the Foundation, an opportunity for renewal and new blood to face the challenges to come.
A return to the origins: reinforcing pos
According to the co -founder and new CEO, Sandeep Nailwal, Polygon It seeks to return to a “zero to one” mentality, in which courage and flexibility are the engine for a new phase of innovation. The nucleus of this new strategy will be the strong impulse to its POS side chain, especially oriented to the real world financial asset sector (RWAS).
This lateral chain or Sidechain emblematic will be the focus of a road map “ambitious”, According to Nailwal, which includes milestones to transform the chain into a“ gigagas ”network capable of processing up to 100,000 transactions per second (TPS) and with the sights set to ensure billion in tokenized assets. It is a direct reaction to the movements of the Ethereum Foundation itself, which also made recent restructuring under the leadership of Vitalik Buterin.
Agglayer and interoperability: the great bet for the future
One of the main axes of the renewed vision of Polygon is Agglayera new protocol designed to allow interoperability between different networks and offer a liquidity without borders within the cryptocurrency universe.
With nailwal at the head, the team plans to consolidate efforts in the development of this protocol, seeking to work as a unification point for Blockchains diverse in a decentralized, efficient and scalable environment.
The commitment to Agglayer will allow, according to the team of Polygonproactively face the current challenges of the sector and prepare the land to be again protagonists in the growth of web3.
POL IMPACT AND FUTURE PERSPECTIVE
For the owners of the Token Pol (previously called Matic), these changes represent an encouraging signal. Pol remains the native token of the network, used to protect the safety of the post chain through staking mechanisms, and the promise Foundation, ”More value and clarity”Aimed at these participants.
Nailwal also acknowledged that the recent decision of the US regulators. Exchange Global
The look to the future is optimistic: reorganization, renewed commitment to post technology and the development of interoperable solutions emerge Polygon to recover part of the lost terrain in front of the new wave of L2. Although the zkevm closure is the end of a stage, this movement could mark the beginning of a new and more ambitious era for Polygon and its ecosystem.
MBIC is negotiated around USD $ 0.223, 0.67% less in the last 24 hours and more than 16% lower in the last month, according to data from Coinmarketcap at the time of publication.
Article written with the help of AI, edited by Hannah Pérez / Diariobitcoin
Image of Depositphotos
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