Ethereum’s transition to proof of stake (PoS) scheduled for mid-September has already been hailed as a significant milestone in the crypto-verse for a more open, decentralized, and equitable web. The crypto community has been closely watching all the necessary updates regarding the merge.
Not to fall behind is its Layer-2 solution scaling solution Polygon [MATIC], a sidechain” that runs alongside the Ethereum providing for speedy transactions and low fees. The team behind the layer 2 protocol has published a blog explaining what the upcoming merge meant for Polygon.
According to the post, the merge would transform the network to be more environmentally friendly. “But it will not lower Eth’s gas fees or increase its speed. In fact, the network depends on Polygon and other Layer 2 solutions to solve this”, it claimed.
Most importantly, the merge would reduce the massive carbon footprint of Ethereum, ramp up the network’s security, and reduce ETH inflation.
The team wrote that it stands to benefit from Eth’s improved security and overall growth in the ecosystem–just like Ethereum gains from the Polygon companies’ suite of scaling solutions, like the recently announced Polygon zkEVM.
“So proof of stake changes the narrative: ETH is now like Polygon, a significantly more environmentally-friendly network”, the blog read.
In addition to that, the switch to PoS is also aimed at cutting down the network’s energy consumption by nearly 99.95%.
Ethereum becomes future-proof, just like Polygon, in a global moment when cutting back CO2 matters more than ever before. The merge lines up with our Green Manifesto, and our commitment to becoming a carbon-negative chain by the end of 2022.
“Ethereum Merge Will Make Web3 A Reality”
Polygon team also pondered on the future roadmap of Ethereum and its vision of becoming a settlement layer for Layer 2 solutions. As per the blog, any growth in the settlement layer is a win-win situation for Polygon, and “ease of use would help make Web3 a reality”.
Terming the future of Polygon and Ethereum as symbiotic, the post then took note of Polygon’s recent zkEVM breakthrough, which it claims will process transactions at “dramatically reduced costs and increased speeds–necessary to onboard a billion users to the Eth ecosystem.”