Governance Vote: Will Dogechain Migrate From Polygon Edge to Polygon zkEVM Roll-up?
This month, the Dogechain team proposed a governance proposal that is currently up for debate on Dogechain Reddit’s Page: “Should Dogechain migrate from Polygon Edge to Polygon zkEVM?”. To have a valid debate, let’s take a look a Polygon zkEVM and why the team thought this migration to be wise. Here we go!
What is Polygon zkEVM?
Polygon zkEVM is a scaling solution for the Ethereum blockchain that uses zero-knowledge proofs to reduce transaction costs and increase throughput while maintaining compatibility with the Ethereum Virtual Machine (EVM). This means that most of the existing smart contracts, developer tools, and wallets that work on Ethereum can also work on Polygon zkEVM without any changes.
Zero-knowledge (zk) proofs are a way of proving something without revealing any info. For example, proving that you know the password to a website without actually typing it.
In the blockchain context, zk proofs can be used to compress many transactions into one proof. This one proof can be verified by anyone on the network. It reduces the amount of data and computation needed to process transactions, which lowers the fees and increases the speed.
Polygon zkEVM is a type of ZK-Rollup, which is a layer 2 technology that bundles many transactions together and submits a validity proof to the Ethereum main chain, ensuring security and correctness. It aims to bring Ethereum scalability to everyone by leveraging the power of ZK proofs and EVM equivalence.
To explain Polygon zkEVM in layman’s terms, you can use an analogy like this:
Imagine that Ethereum is a busy highway with many passengers (chains & transactions) trying to get to their destinations. However, the highway has limited lanes (bandwidth) and each car has to pay a toll (gas fee) to use it. This causes congestion and high costs for the drivers.
Now, Polygon zkEVM is like a fast auto train (ZK-Rollup) that can carry many passengers (transactions) at once & only pays one toll (proof) to use the highway. The train is compatible with cars (EVM chains), so anyone in a car can also ride the train without changing their vehicle (smart contract). This way, Polygon zkEVM can help more people travel faster and cheaper on the Ethereum highway.
But Why Polygon zkEVM?
With Polygon zkEVM, people will be able to do atomic swaps between all the CDK and EVM chains without the need for third-party bridges.
Note: Polygon’s Chain Development Kit (CDK) is an open-source codebase that developers can use to create their own customizable layer 2 chains using Polygon’s ZK technology.
How can it be done without third-party bridges? Although it is bridging, the term for this type of bridge is “atomic swaps”. No liquidity in bridges is necessary. The tokens get removed from one chain, minted on another, and verified on the ETH mainnet
In other words, on Polygon zkEVM, you can make an atomic swap straight from Polygon to Dogechain, or zkEVM to Dogechain, or Astar to Dogechain, etc. in seconds, with the FULL security of Ethereum. This will be a Layer 2 for DOGE and Ethereum.
Perks of Polygon ZkEVM for Dogechain!
By adopting this tech, Dogechain could become a true layer-2 of Ethereum and:
- Obtain Iron-clad Security: Dogechain will inherit the security of the Ethereum main chain, as every transaction on Polygon zkEVM will be verified by a zero-knowledge proof that is submitted to Ethereum. This means that no one can tamper with or revert the transactions on Dogechain, even if the validators are malicious or compromised.
2. Remove the Need for Third-party Bridges and Increase Decentralization
Dogechain will not rely on any third-party bridges or intermediaries to connect with Ethereum or other chains. Instead, it will use atomic swaps, which are trustless and permissionless exchanges of tokens between different chains. Atomic swaps ensure that the tokens are either transferred to the desired chain or refunded to the original chain, without any risk of losing them in the process.
3. Open the Path for Seamless Interoperability.
Dogechain will be able to communicate and exchange value with all the Polygon Ecosystem Layer 2s, including Polygon PoS and Polygon zkEVM and other ZkEVM chains like Astar, and others, using atomic swaps. This will create a network effect and increase the utility and liquidity of the tokens on Dogechain. Users will be able to move their tokens across different chains in seconds, with the full security of Ethereum.
4. High Scalability of Zero-knowledge Proofs
Dogechain will benefit from the high scalability of zero-knowledge proofs, which can process thousands of transactions per second at a fraction of the cost of Ethereum. This will enable Dogechain to support more users and applications while maintaining a low and predictable fee structure.
The ZkEVM will eventually provide cross-chain liquidity, allowing seamless and trustless asset bridging from one chain to another.
So what do you think? Make your opinion known here
After the discussion and debate, comes the vote. I think I pretty much know what the majority of your vote will be.
Stay tuned for updates and announcements by joining the Dogechain Family community on all channels: https://linktr.ee/dogechain