Polygon Blockchain: Functioning and Explanation
In the rapidly evolving world of cryptocurrency, Polygon continues to make waves with its innovative approach to blockchain technology. This article delves into the workings of Polygon, particularly its latest addition, the Avail data availability layer.
Polygon, formerly known as MATIC Network, was launched in 2019 and rebranded to Polygon in 2021. It employs a hybrid system of Heimdall architecture and Proof of Stake (PoS), offering faster transaction confirmation times of 2.1 seconds. The blockchain operates using a Proof-of-Stake consensus method, with Polygon not having its own standalone blockchain network; instead, it operates on top of the Ether (ETH) blockchain.
The Polygon architecture consists of three layers: Bor, Heimdall, and an unspecified layer. Bor is responsible for grouping transactions into blocks and periodically confirming them on the Heimdall node using Merkle tree hashes. Heimdall, on the other hand, enables the PoS mechanism on Polygon and is in charge of block validation, committee selection, and representation checking for sidechain blocks for Ether (ETH).
Avail, the newest addition to the Polygon ecosystem, serves as a specialized data availability layer. It enhances the scalability, security, and interoperability of blockchain networks on the Polygon platform. Avail ensures that blockchain data is reliably published and available to verify, which is crucial for rollups, sidechains, and standalone chains to operate trust-minimized and decentralized.
Avail acts as an independent blockchain that supports multiple execution environments, facilitating a versatile environment for different types of chains and scaling technologies across Polygon. It uses data availability sampling and validity proofs to allow light clients to confirm data availability efficiently, enabling resource-efficient but secure data verification.
Techniques such as erasure coding protect against data withholding by malicious actors, ensuring data integrity across the network. Avail contributes to Polygon’s broader horizontal scaling strategy, allowing many chains to run in parallel with finality guaranteed on Ethereum.
MATIC, the native token of Polygon, is limited to network transactions and cannot be used for regular purchases. However, since MATIC is an ERC-20 token, it can be used along with other cryptocurrencies based on Ether (ETH). Network users who accredit transactions on the Polygon network are rewarded with MATIC.
The potential drawback is that Ether 2.0 might render Polygon unnecessary as a second layer. Nevertheless, the Polygon blockchain's validation system makes it more trustworthy.
In summary, Avail forms a critical data availability backbone for Polygon’s multi-chain architecture, enabling scalable, secure, and interoperable blockchain networks by providing robust data availability guarantees off-chain or on separate sidechains, interconnected with the Polygon mainnet and Ethereum.
Technology plays a pivotal role in the operation of Polygon, as it employs a hybrid system of Heimdall architecture and Proof of Stake (PoS) for faster transaction confirmation times. Furthermore, the Avail data availability layer, a new addition to Polygon's ecosystem, leverages technology to enhance scalability, security, and interoperability of blockchain networks on the Polygon platform.
