Golden Finance reports that the Polygon project, which has considerable influence in the blockchain field, has witnessed significant personnel changes. Its co-founder, Sandeep Nailwal, has been officially appointed as the CEO of the Polygon Foundation. This appointment aims to strengthen Polygon’s strategic layout in the blockchain field, accelerate the project decision-making process, and cope with the increasingly fierce competition in the current industry.
As the co-founder of Polygon, Sandeep Nailwal has played a crucial role in the development process of the project. His career began as a software engineer and he worked successively at Computer Sciences Corporation and Deloitte. Since then, with his acute insight and profound understanding of blockchain technology, he resolutely threw himself into the entrepreneurial wave and founded Scope Weaver, a blockchain solution provider. During the continuous in-depth exploration in the blockchain field, Sandeep Nailwal met Jaynti “JD” Kanan. The two jointly discussed and decided to use the second-layer Plasma technology to solve the scalability problem of Ethereum. Subsequently, Anurag Arju also joined in. The three officially launched the Matic Network project in early 2018, which was the predecessor of Polygon. After years of efforts and development, Polygon has grown into an important scalability solution in the Ethereum ecosystem, supporting over 40,000 decentralized applications (dapps) worldwide. The market capitalization of its native token MATIC once exceeded 7 billion US dollars.
In his new position, Sandeep Nailwal will be fully responsible for the work of the Polygon Foundation and supervise all matters related to the development and growth of Polygon. In the short term, Polygon will focus on expanding AggLayer applications. AggLayer, as the core component of Polygon 2.0, carries the vision of Polygon to build an infinitely scalable blockchain ecosystem. It aims to unify the current fragmented blockchain world by aggregating and ensuring atomic cross-chain transactions, addressing the issues of scattered liquidity and fragmented states in the existing blockchain ecosystem, and providing users with a seamless experience at the single-chain level.
From the perspective of technological innovation, AggLayer has adopted a new verification mechanism called “pessimistic Proof”. This mechanism assumes that all access chains are insecure and ultimately guarantees the accuracy of cross-chain operations with the help of zero-knowledge proofs. Meanwhile, AggLayer also introduces a unified bridge. Its workflow is to collect and summarize the status of all access chains to the aggregation layer, and then the aggregation layer generates a unified proof to Ethereum. During this process, there are three stages of status: pre-confirmation, confirmation, and final determination, to verify the transaction validity of all access chains. Through these innovative technological means, AggLayer is committed to achieving more efficient inter-chain interaction and promoting the free flow of assets, information, etc. among different blockchains.
At present, some projects have been integrated into the AggLayer ecosystem. For example, the Ethereum Layer2 project X Layer established based on Polygon CDK, which connects Ouyi and the Ethereum community, is expected to introduce extensive liquidity for projects within the AggLayer; The zero-knowledge infrastructure layer Union constructed based on Cosmos has achieved a deep connection between EVM and Cosmos by accessing AggLayer. As the first fully integrated chain of AggLayer, Astar Network has directly connected to a liquidity sharing pool worth tens of billions of dollars. With the leadership of Sandeep Nailwal, Polygon is expected to achieve greater breakthroughs in expanding AggLayer applications, attract more projects to join, and further improve its ecosystem layout.
In the current era when the blockchain industry is booming but competition is becoming increasingly fierce, Polygon’s recent personnel appointments and its emphasis on the expansion of AggLayer applications may have a profound impact on its future development. All market participants are closely watching Polygon’s strategic advancement and business expansion under the new leadership structure.
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