Road to Web3 Summit | Polygon Ecosystem

[Music] [Applause] [Music] jump right in and introduce sandeep and mihailo on screen and uh let them take it from here so hello welcome we're super excited to have you again and uh loving the shirts yes yes we were saying that we are the polygon twins today like you know mission accomplished yeah yeah yeah we should take a take a picture of it to post on twitter also because you know this looks funny all right so it's been incredible to get the signal going um uh i'll summarize people who are just joining us for this for the summit piece uh this is officially the biggest event that global has done and in our first four years of running things uh we have never seen this much interest in what's happening in web3 especially from people who are uniquely leaving web2 to join the last two weeks we got a record number of applications to attend the hackathon and we had to uh sadly say no to a lot of people because we couldn't support them for free judging so that's already a great start to uh to this day and uh i'll let you kick off with what's happening with poga yes awesome so i will take the first part of the the the presentation and then from there uh mihailo can can pick up so you know let me quickly share my um wait this one um okay um so basically you know like i'll i'll start with a brief uh overview of polygon and uh first of all like you know i i you know welcome everyone uh who has shown interest in this uh you know web wrote to web3 hackathon and then you know i i wish uh for to all the people who are already in web 3 and who are coming from web 2 to web 3 uh fantastic uh you know experience with this hackathon and they get to you know at least a good uh mental framework of you know of their journey into web 3. so uh i mean to to start with like you know polygons uh journey like you know polygon was founded in 2017 uh then we did an io on finance and but you know in june 2020 we launched our mainnet with the proof of stake chain and uh you know by by end of 2020 polygon was already showing signs of very high amount of adoption and uh you know we were previously called matic network uh many of you would have heard that before also but we rebranded from matic to polygon because and and you know some of the things i'm going to talk in the next slide that you know polygon now is a previously matic network was one kind of chain like it was plasma uh chains uh you know to be to be scaling ethereum but now polygon as polygon we have a much larger vision of uh having this multi-chain uh you know internet of of of blockchains for ethereum where developers can choose from various different kind of solutions that we provide and i'll i'm going to talk more about that uh you know going forward then in april 2021 a large amount of d5 started coming onto onto polygon and then uh you know this culminated with the with uni swap uh you know i i think three four weeks back unit swap also deploying which completes the entire uh you know the the ethereum defy community having a store on polygons so they continue to exist on ethereum main chain but they also have their you know you can say uh stores on the polygon chain also and uh it has been absolutely uh fantastic journey from there and and many of these uh protocols have larger number of users on polygon now than the and then the then the main chain of course the the volume of the the transactions uh is smaller but you know the number of users they have there is and that's why like you know the d5 initiative is called d5 for all on polygon because it basically allows retail community to participate in the d5 because of the low gas fees and everything and then uh you know from uh from from june to uh the end of last year we have uh you know we have expanded polygon and you know kind of made polygon as one of the powerhouses of zero knowledge technology now uh you know the some of the the most uh you know famous projects in the zero knowledge space like polygon hermes uh you know polygon zero um one protocol that we are doing with the with ernst young polygon nightfall and uh you know polygon maiden uh uh you know constitute uh the the zero knowledge uh you know suit of uh of polygon and you know pound four pound many people have said that you know probably polygon has uh probably uh one of the best uh if not if not the best like top two teams uh in the in the ethereum scaling space so uh and then there have been like multiple things with polygon zero we announced the plonk k2 which is uh which is the like 100x faster than any other zero knowledge recursive proof generator uh you know to to kind of scale the zero knowledge technology so uh you know what exactly is is polygon so you know polygon as i said that is a multi-chain suit of these blockchains so basically polygon is not one chain like although you many of you will interact with polygon pos chain for now in this hackathon but if you see and if you follow my cursor like polygon you know has a much larger uh you know the the visibility or kind of the mindset for the ethereum scalability we don't believe in one narrow definition of polygon of ethereum scaling which primarily has been you know purely layer two and layer two means like you know you have full security guarantee of ethereum that means both your data as well as your dispute resolution which are the technical terms of layer two are are guarded by ethereum but for for easy easiness perspective just think that you know full-blown layer two means full security from ethereum but then obviously when you are getting full security from ethereum you have to pay for fee for that right so so we believe that you know there are you know each application has its own requirements and uh you know polygon uh you know wants to be present across this spectrum where on the left extreme you see this low security low security from ethereum or almost no security you have sovereign chains like you know and the security of the chain is fully guaranteed by the sovereign validators of that chain and then if you come to the middle you will find a chain like polygon pos which is built on top of ethereum does not derive full security from ethereum but there is you know the staking rewards everything happens on on ethereum and then on the right extreme you can see the full-blown roll-ups where we have four zero-knowledge roll-up efforts going on each of them have their own benefits own trade-offs and you know right now they are all four different products maybe some of them will converge with each other and then in between that we also have a polygon available which is the data availability uh solution from polygon which allows and the people who know zero knowledge is scaling space there which allows for validium where you can have the zero knowledge proofs back on ethereum but the data availability can stay on on the on off chain layer so that's basically again to the idea to take back home is that polygon is you know provides spectrum of these solutions across the board for ethereum scaling and you as a developer you choose what is better for you do you need to are you a d5 application who needs absolute security from ethereum then choose zero knowledge roll-ups if you are if you are building a very casual game where you need a bridge from you know polygon to or your own chain to to ethereum maybe use polygon sdk or you know if you want like somewhere in the middle you want to interact with the larger d5 and nft ecosystem maybe you want to remain on a shared chain still low cost you can be on polygon pos so giving the power back to and the power of choice back to the developer for this web 3 compute right so and polygon actually you know if you see we want to kind of become the aws of web3 where you know today if you are coming from web 2 you are building an application and you want to deploy it you go to aws choose the server you want choose the database you want and then you deploy your application right in web3 you are looking for decentralized compute in web 2 you are looking for centralized compute right so in in that three when you you will be building your application you will probably come to polygon and see okay what is the requirement of my my application whether it's a d fights nft how much security i want and how much controls use censorship resistance i want and you will choose your solution according to that but fully connected with ethereum because that's where the the large network effect slide um so i already mentioned about these you know uh around uh you know seven products that we have polygon pos polygon sdk which is now called polygon edge polygon avail uh you know hermes nightfall maiden and zero are the zero knowledge projects so so so i mean in terms of the investors in our polygon ecosystem like the largest of the largest names uh are there and then all these investors are investing very heavily in polygon ecosystem uh i mean uh you know we we we kind of uh i mean a lot of these investors have committed multiple hundred million dollars into the protocol and if you are building uh into the into the ecosystem and if you are building something you know and it is it is great we are more than happy to you know provide all these investor connections to the uh people who have strong product aspirations uh you know post the hackathon um and and you know in terms of the polygon project these are like very very small number of uh you know uh the projects like ave uh uni swap and and you know decent land like especially let's say meta versus uh you know people talk about meta versus but some of the largest metaverses not some of the in fact the all the largest metabolism in the web3 space are all on polygon decentraland somnium space sandbox uh avecochi all of them are on polygon some of the top games like neon district zed run mega crypto police all of them are on polygon and now brands the big brands like you know uh big brands like adidas and prada dolce and gabanna are launching their nfts and you have access to this large ecosystem now if you are building on polygon um i mean i already spoke about this metaverse and the brand related things also uh you know macy's thanksgiving parade had their nfts launched on polygon nfl had their nfps on polygon polygon and on the on the metal side like all the blue chip meta versus are are integrated with polygon um so yeah i mean in terms of adoption polygon currently i think that by the number daily average users and the number of developers building on polygon uh you know polygon uh has emerged as the most used uh you know polygon pos has emerged as the most used uh blockchain uh globally it has surpassed even the mother chain ethereum and then uh even like all of the other layer ones if you you know take by the number of daily active users and the total number of unique users in the in the ecosystem uh we would be probably five to ten x of any of the even the layer ones uh alternate layer ones which are trying to compete with ethereum right so i mean it's an order of magnitude it's not like poly one has more than that it's orders of magnitude higher uh of these matrices on polygon and uh the benefits like as some of you would already understand that polygon will you know provides full ethereum compatibility scalability that means low cost transactions uh security and sovereignty if you are if you are looking for a polygon sdk related or polygon head chain interoperability you know bridges between these chains uh you know and and user experience related things like meta transactions and all that a developer experience like if you have if you learned solidity which is predominantly the largest and the most used uh you know kind of blockchain programming language uh you have access to all the tooling including hard hat or tenderly or you know rpc providers like infuria alchemy everything so so you know these are some of the benefits but once you start building on it i'm pretty sure you'll love uh the developer experience overall um you know adoption i re i already spoke about like you know many of the as i was saying that many of the other layer ones that even the layer ones if you see you they would have like you know hundred two hundred three hundred application i'll give me some time you know sometime back they posted that polygon has seven thousand plus applications uh we have generally uh you know three to four million average daily number of transactions uh the tvl on the network is around 12 billion dollars and overall market cap of the of the protocol has has reached you know fluctuates between 16 to 20 billion dollars on polygon pos chain you get two second block times which makes it very very very fast uh evm compatibility and and in a lot of other things so and and you know like especially if you are building on nft like all the the biggest nft enablers like openc as a marketplace uh fractionalization protocol like uniquely uh and and and you know like many other things like showtime uh they are all available on uh on polygon and you can if you are building an ft project you get direct access to this entire uh you know nfd ecosystem community wise polygon is now one of the largest uh you know crypto communities and people and the projects which are building on polygon they get visibility directly to all these all these users now even if you are building a gaming platform uh like ndg which is the you know india version of ygg which is the play to one community you have direct access to that also and ndg is also very closely worked upon by polygon studios um and then you know like we have mentioned some of the stats about the you know openc uh uh you know in terms of the nft tech support it has been a constant growth overall uh on on polygon and you know here is a brief self-explanatory comparison of some of these other layer ones which are trying to compete with ethereum but you know we believe that uh you know like polygon already provides all those all those advantages uh on the top of ethereum so you know generally negates the need for any other uh you know other blockchain platform and you know with the ethereum's uh huge community massive massive community you know it gives every reason to you know remain intact in this high network effect community so so i mean in terms of the tooling uh you know you see the wallets i mean almost every wallet uh you know available in the web 3 space is integrated with polygon oracles almost every oracle is integrated with polygon exchanges integrations every exchange is integrated dow dev tooling like you know it is pretty extensive in that sense like everything anything that you are used to use on using on ethereum uh most most likely you will find them those same tools working on polygon like a charm and uh you know nft and gaming you know these are some of the top games that we could mention here uh you know open c super farm battle racers i mean many of these uh are you know uh comet our zora and all that these are big names in the nft space um you know some more names on the nft side of things and this is like a very small list of uh this one's like i think gaming wise will have 500 to a thousand various level of games on polygon uh d5 as i said that the entire d5 ecosystem is is there on polygon like whatever you have on on on ethereum mention if you want to experiment with dex's landing borrowing protocols everything is available on polygon on the main net so you can have uh direct integrations and testings uh of your project that you are building and uh you know this is d5 point you know second slide and then third slide like everything that you can imagine on d5 is available on polygon so that's that's that's all from my side and then uh you know that's the closure of the presentation and then i would also request my uh you know co-founder mihailo who's you know has been uh pretty prolific in the ethereum research community uh to talk more about let's say uh you know what what polygon uh is doing on the zero knowledge side to just give you a brief flavor of like what all we are doing on the on the zero knowledge and why we believe that this is the future of uh you know blockchain scaling yeah of course uh hi everyone first of all thanks kartik and the team for organizing this this is really amazing and uh of course we're we're super thrilled and then humbled to see this level of interest more than 1200 acres already applied and that's really really amazing to see and that's basically why we started this whole thing called polygon and it's yeah we're super happy to see all this uh i think sandeep covered pretty much pretty much everything that is important for for i don't know for the hacker for the builders community uh to to to know maybe as sandeep said i can briefly cover our efforts on the dk side and maybe i can take a step back maybe and cover cover actually more the the vision itself of polygon how it started and how do we see this web free because the the title of of the event the name of the event is road to web free so i was thinking maybe i can just briefly share some some of our thoughts basically and how do we see the whole the free ecosystem what it means for us and what do we want to uh actually do for it so uh for us webfree is that one of the most potentially impactful uh technological movements in the world at this point in time and we believe it can have significant and profound impact on the whole society on the whole planet in general and to try to kind of this is too vague of course but to maybe articulate some of some points is that um one of the one of the things that you're trying to build with webfree is this global network of values so we with internet we established this global internet of information right and we kind of democratized uh access to information so prior to to to internet um information let's say education obtaining certain knowledge or skills was not really uh widely or globally available and maybe people who had better financial status or we are or maybe leaving certain geographies were able to acquire knowledge go to universities etc and internet kind of democratized that so anyone in any remote i don't know village in africa or in whatever philippines can now access this global global pool of of uh information and knowledge and that's really transformative concept of course uh what was lacking there like one major thing that that was lacking there is this global network of values so okay now we democratize knowledge with democratized information how do we now allow these people globally to to monetize this knowledge to actually benefit from the knowledge they acquired in in a lot of parts of the world in many parts of the world this is not really possible like in i don't know i lived in some time in africa in tanzania and for example uh a huge popul part of population doesn't even have ideas not to mention uh bank accounts so they are kind of excluded for this from this uh uh um current financial system and vap3 in establishing this global network of value is really a transformative concept that can actually now also democratize access to this global economy and establish actually this global borderless economy and allow everyone in the world literally to just simply spin up or install a wallet and actually become part of this this uh global open borderless economy and that's for us hugely hugely transformational concept there are some other also important concepts i i guess i can speak about polygon and they're free for for days i'll just be uh try to be mindful of of time and yeah concepts like ownership where people finally uh own their own assets of course digital assets primarily it's usually transformational having no intermediaries you're actually in charge and uh holding actually your assets this is also something that we never had in modern history and several other ways the the ways that free and uh and its concepts can can affect the way we organize ourselves the way companies work all sorts of human organizations from companies uh to to ngos to governments even all of this can be disrupted and we believe taking everything into account web freeze in my opinion the most transformative tech movement in the world now and i i'm also personally very very humbled and excited that i'm uh a small contributor in in this movement and yes that is uh um this primary and unlimited i guess source of inspiration for for us at polygon as us the the founders i guess and and the team overall so um that being said we believe ethereum is our best shot by far to actually build this fab free and we are fully committed as a project to ethereum we are parts we are part of the ethereum community we consider polygon integral part of the ethereum ecosystem that is how we position ourselves ethereum is again when it showed up with its energy with technology this programmer of blockchain uh uh uh emerged as as again our best shot to build this web free the thing that we just realized along the way is that uh um ethereum layer one that we originally all used for building applications and uh trying to realize this this dream that we have uh is basically um highly limited in terms of throughput uh um we can there's only certain amount of activity that can be that can happen not actually layer one soon enough we realize that in order to actually on board the masses we of course want to hold more 1 billion plus people to this new global network that we call web free in order to do that ethereum layer 1 is eventually going to become some sort of a higher court some sort of uh settlement change the central component of this wider ecosystem that is actually tier you multi-chain that we believe polygon represents so that being said uh um i cannot transition to say what is polygon uh we understood that that first thing that ethereum layer one cannot um cannot support this level of activity that we need for for webfree we understood that we have to have the scaling solutions to scale it and we understood also that we are basically in an early phase of building this infrastructure okay so we want to build robust decentralized secure uh uh eventually probably even private infrastructure that can support one billion plus people that is our goal here if you want to have really a global global network we building such infrastructure takes time it cannot be built overnight this is basically a marathon that we that is what we understood and we will probably get there i don't know i hope in five years maybe in 10 or but definitely it's not going to happen this sir next year uh we understood that this is basically right now early phase of innovation in in web free and understanding understood that we decided that the community needs a project like polygon that is supporting all meaningful scaling solutions that is basically a hub of innovation and and r d and in development in general in this field of scaling and infrastructure development ethereum didn't have such a pro project before and we are happy that we managed to start it polygon is an unopinionated platform that supports all major scaling solutions from a sandeep covered from fully for us scaling ethereum is basically scaling ethereum stack so anything from fully standalone ethereum chains up to fully secured layer tools and hold that spectrum in between is something that we uh are interested in and we are working hard on providing uh that being said we are definitely a little bit biased in the long term towards zk-based solutions uh having been involved with ethereum scaling scenes ever since 2017 i guess when plasma was originally introduced as the first formalized scaling i guess approach for for ethereum uh we analyzed all these major approaches to scaling analyze the trade-offs and we believe basically that zk-based solutions are solutions that offer the best set of trade-offs that actually can allow us to to uh um to offer or to satisfy these strict design criterias that the ethereum ecosystem has so ethereum is ethereum as an ecosystem is really making no compromises when it comes to these major design principles like decentralization uh security scalability and and other important design criteria and with zk tech and privacy of course ultimately with dk tech i believe we have a good chance to to kind of deliver on all these uh requirements so several months ago we basically announced or formalized that the bias i guess uh by announcing our zika thesis which is a short basically post that that speaks generally but i just talks about what i said in general now and our commitment to support these dk-based solutions and we also committed uh one billion dollars from our treasury to support all the relevant uh efforts in that in that field since then we introduced a sunday covered several major uh interesting ck projects zk uh polygon polygon hermes polygon midan polygon zero and polymer nightfall for now we have a lot of meaningful efforts happening in the background everything from hardware acceleration to tooling in zk ecosystem etc i don't think we have the time to cover that now but what i would like to say is that with specifically with one of the projects polygon hermes basically polygon hermes is a zk roll up that is currently live on ethereum but it supports like all other zika rollovers it supports payments basically like simple uh transaction logic only until i guess six months ago it was uncertain whether it's even possible practically possible to build zk based evm compatible solution and i think with hermes now and several other projects this is becoming the reality and we are very very optimistic now when it comes to results that we have in polygon hermes we basically have the prover already uh in place we don't see any major uh obstacles on the research and design side uh we are very confident now that within i can i can confidently say within three months from now we will have a test net for full-blown zkvm which is going to be the world's first basically zka evm roll up we are super excited about that and we're preparing a lot of auxiliary activities to support that announcement and and hopefully the testing that should happen three months after that roughly again so yes this is something that uh we're very excited uh about and we're working uh around the clock to to build and to deliver and yeah uh for us also one thing that i forgot to mention ethereum compatibility being of course uh integral part of ethereum ethereum compatibility is very important for us we kind of learned that as a project the the hard way i guess we started originally with this pos chain that most of the people are using now which is fully evm compatible and plasma implementation that we have that is that never really took off and the reason it didn't take off it was because it wasn't tv uncompatible to to use it you actually had to uh learn how these plasma predicates work express your application logic using those predicates etc so it was kind of a new paradigm and we understood that there's so much hunger on the developer side and as you can see there's 1 200 people here now that want to build their applications they want to use solidity is mainstream already evm is mainstream people want to build their dreams basically they don't want to learn new paradigms like these predicates and whatnot so we learned that kind of lesson i guess and all the solutions at least for now that you're working on are fully avm compatible including this pulling on hermes that i'm mentioning so everything you basically learn developing on ethereum and then developing on polygon now polygon pos chain is fully applicable uh for also upcoming polygon hermes and that's something we're also very excited about so you will basically have the same ethereum developer experience like you have on ethereum polygon ps you will have this highly secure robust solution that is polygon hermes and yeah i think i can wrap it up here i mean i could talk i guess a lot more but i hope this was helpful just to put things into perspective and to say it from polygon side we are heads down really working on on more exciting and advanced solutions from our side until then enjoy using uh polygon ps as a super cheap alternative to ethereum and yeah enjoy hacking and thank you so much yeah we always thank you so much for uh for that amazing overview and uh of course lots more to come in terms of brand new primitives and ease of use for uh how their knowledge proofs will just make all this easier so thanks again for that and uh so i don't have enough time for q a but i'll relay them to you directly and we can relay those answers to our audience later but we can answer them so without further ado [Music] [Applause]