Polygon PoS：以太坊擴充的未來

**Key Insights**

**重要見解**

Polygon, initially known as MATIC Network, was founded in October 2017 as a scaling solution to address blockchain scalability and usage issues, particularly on Ethereum. At its core, Polygon is built on the concept of blockchain modularity, which aims to enhance scalability by separating the core functions of a blockchain—execution, settlement, data availability (DA), and consensus—into different layers. However, this approach has inadvertently led to two unattended consequences: fragmentation of state and liquidity.

Polygon 最初稱為 MATIC Network，成立於 2017 年 10 月，作為解決區塊鏈可擴展性和使用問題（尤其是在以太坊上）的擴展解決方案。 Polygon 的核心是建立在區塊鏈模組化概念之上，旨在透過將區塊鏈的核心功能（執行、結算、數據可用性（DA）和共識）分離到不同的層來增強可擴展性。然而，這種做法無意中導致了兩個意想不到的後果：狀態碎片化和流動性。

Today, Optimistic Rollups require users to pay expensive fees, up to 0.5% of the transaction value, to third-party bridges to avoid the seven-day challenge period to withdraw from the bridge. Zero-Knowledge Rollups, which reduce these wait times by eliminating the need for a challenge mechanism, still face delays as users are required to round trip on Ethereum for cross-chain transactions. These delays and costs highlight the inefficiencies that arise from the current modular approach, underscoring the need for more innovative solutions.

如今，Optimistic Rollups 要求用戶向第三方橋樑支付昂貴的費用，最高可達交易價值的 0.5%，以避免從橋樑中退出的 7 天挑戰期。零知識總結透過消除挑戰機制來減少等待時間，但仍面臨延遲，因為使用者需要在以太坊上往返進行跨鏈交易。這些延誤和成本凸顯了目前模組化方法帶來的低效率，並強調了對更具創新性解決方案的需求。

In response to these challenges, Polygon has evolved into an aggregated network with a number of scaling solutions, including public chains and a chain development kit (CDK), to address scalability and interoperability challenges without compromising on trust assumptions. This technological landscape includes:

為了應對這些挑戰，Polygon 已發展成為一個具有多種擴展解決方案的聚合網絡，包括公鍊和鏈開發套件（CDK），以在不損害信任假設的情況下解決可擴展性和互通性挑戰。這種技術格局包括：

**Polygon Proof-of-Stake (PoS)**

**Polygon 權益證明 (PoS)**

Polygon Proof-of-Stake (PoS) is the flagship Polygon protocol, one of the first chains that launched, explicitly designed to improve Ethereum's scalability and efficiency. It operates as an EVM-compatible scaling solution that utilizes its own set of validators through a Proof-of-Stake consensus mechanism.

Polygon 權益證明 (PoS) 是 Polygon 的旗艦協議，是最早推出的鏈之一，明確旨在提高以太坊的可擴展性和效率。它作為與 EVM 相容的擴展解決方案運行，透過權益證明共識機制利用自己的一組驗證器。

As of Q2 2024, Polygon PoS has processed over 4.1 billion total transactions. Following this, Polygon has consistently maintained its cost-effective advantage over many L2s engineered to be more economical. In Q2 2024, Polygon's average transaction fee was around $0.01, down 41% QoQ, while Optimism’s Bedrock average transaction fee was $0.06.

截至 2024 年第二季度，Polygon PoS 已處理超過 41 億筆交易。此後，Polygon 始終保持其相對於許多更經濟的 L2 的成本效益優勢。 2024 年第二季度，Polygon 的平均交易費用約為 0.01 美元，較上季下降 41%，而 Optimism 的 Bedrock 平均交易費用為 0.06 美元。

**Key Performance Metrics**

**關鍵績效指標**

As of July 2024, Polygon is the 4th largest Ethereum scaling solution in terms of TVL, trailing behind Arbitrum’s $2 billion, Base’s $1 billion, and Blast’s $1 billion but ahead of Optimism’s $709 million. Among all blockchain networks, Polygon boasts the 8th-highest TVL.

截至2024 年7 月，就TVL 而言，Polygon 是第四大以太坊擴容解決方案，落後於Arbitrum 的20 億美元、Base 的10 億美元和Blast 的10 億美元，但領先Optimism 的7.09 億美元。在所有區塊鏈網路中，Polygon 擁有第八高的 TVL。

The largest protocols by TVL on Polygon PoS include Aave, Uniswap, QuickSwap, and Polymarket. Polymarket, a decentralized information markets platform that allows users to trade on real-world events, has particularly shown an impressive recent growth in TVL. The protocol has increased 237% quarter-over-quarter, from $17.04 million at the end of Q1 2024 to $40.2 million at the end of Q2 2024, driven by increased betting activity surrounding the upcoming US Presidential elections.

TVL 在 Polygon PoS 上最大的協議包括 Aave、Uniswap、QuickSwap 和 Polymarket。 Polymarket 是一個去中心化的資訊市場平台，允許用戶根據現實世界的事件進行交易，最近 TVL 的成長尤其令人印象深刻。由於圍繞即將到來的美國總統選舉的投注活動增加，該協議環比增長了 237%，從 2024 年第一季末的 1704 萬美元增至 2024 年第二季度末的 4020 萬美元。

Additionally, daily active addresses on Polygon PoS are up 47% QoQ to 1.2 million. Over the past 12 months, Polygon PoS has processed 452 million DeFi transactions, more than Arbitrum, Base, and Optimism combined. These transactions include $1.5 billion in value from various DeFi use cases, e.g. trading and lending.

此外，PoS 上的每日活躍地址較上月成長 47%，達到 120 萬個。在過去 12 個月裡，Polygon PoS 處理了 4.52 億筆 DeFi 交易，超過 Arbitrum、Base 和 Optimism 的總和。這些交易包括來自各種 DeFi 使用案例（例如交易和借貸）的價值 15 億美元。

In Q2 2024, Polygon’s gaming sector experienced the highest network activity across its leading sectors, with 382,000 daily active addresses increasing by 85% QoQ. This growth is attributed to the popularity of Matr1x’s Matr1x FIRE game, a first-person shooter game. Matr1x accounts for 74% of the average daily active addresses among the top five applications on Polygon PoS.

2024 年第二季度，Polygon 的遊戲產業在其領先產業中經歷了最高的網路活動，每日活躍位址數為 382,​​000 個，較上季成長 85%。這一成長歸功於Matr1x 的Matr1x FIRE 遊戲（一款第一人稱射擊遊戲）的流行。在 Polygon PoS 前五大應用程式中，Matr1x 佔日均活躍地址的 74%。

The number of unique addresses active on Polygon PoS has risen by 205% YTD, while daily engaged wallets have also seen an increase of 50% YTD. In March 2024, the Ethereum network underwent the Dencun upgrade, implementing proto-dank sharding (EIP-4844) and improving data availability on Ethereum. This upgrade led to a substantial reduction in fees across the Ethereum ecosystem, including Polygon, where total transaction fees decreased by 41% QoQ to $4 million.

今年以來，PoS 上活躍的唯一地址數量增加了 205%，而每日活躍錢包數量今年迄今也增加了 50%。 2024 年 3 月，以太坊網路進行了 Dencun 升級，實施了原始分片 (EIP-4844) 並提高了以太坊上的資料可用性。這項升級導致整個以太坊生態系統的費用大幅降低，其中包括 Polygon，總交易費用較上季下降 41% 至 400 萬美元。

Stablecoins on Polygon continued to grow, with their total market cap increasing 40% QoQ, up to $1.8 billion by the end of Q2 2024. Daily active addresses in stablecoins also rose 35% YTD. Tether (USDT) and Circle's USDC maintained their dominance, collectively representing 80% of the stablecoin market cap on Polygon, with approximately

Polygon 上的穩定幣持續成長，其總市值季增 40%，到 2024 年第二季末達到 18 億美元。 Tether (USDT) 和 Circle 的 USDC 保持了主導地位，合計佔 Polygon 穩定幣市值的 80%，約