Cosmos-native layer-1 blockchain Canto has become the latest chain to migrate to Ethereum as a layer 2 zero-knowledge rollup, after another layer-1 blockchain, Astar, announced similar plans to migrate from Polkadot ecosystem to Ethereum.
Canto is a permissionless general-purpose blockchain, which is Ethereum Virtual Machine (EVM)-compatible with the goals of onboarding the traditional financial sector to decentralized financial applications.
In an official agreement reached by Canto Commons — a framework where contributors coordinate ideas and protocol solutions — its core developers will build a ZK rollup on Ethereum’s second layer, the Polygon Labs explained on Sept. 18:
“By using a shared ZK bridge, Canto will eventually tap into the liquidity of a unified Polygon ecosystem with easy access to Ethereum.”
Polygon Labs says Canto will “inherit” Ethereum’s security, enabling more decentralization and trustless guarantees when linking assets:
“User security comes through a best-in-class and production ZK prover, meaning community security is ensured through cryptography and inherited from Ethereum, rather than social-economic incentives of fraud evidence .”
Neofinance at scale – Canto has migrated to a ZK-powered Ethereum L2, built with @0xPolygon CDK.
the @CantoPublic The community will tap into Ethereum’s deep liquidity through the shared ZK bridge without sacrificing user security – a huge step towards neofinance.https://t.co/8uDhLYk1G9
— Polygon (Labs) (@0xPolygonLabs) September 18, 2023
There will be no changes to Canto’s validators or staking system, Polygon Labs added.
Canto followed the movements from Astar
Canto joins the likes of Astar, Gnosis Pay, Palm and IDEX that have announced plans to build ZK layer 2 using Polygon’s Chain Development Kit in recent months, according to Polygon Labs co-founder Sandeep Known.
On Sept. 13, the Astar team announced that it will soon start building its own Ethereum layer-2 scaling solution, named Astar ZK-Ethereum Virtual Machine (EVM), also using Polygon’s CDK.
“We are building a trustless bridge to Ethereum with high EVM equivalency out of the box, so dApp developers can use existing tools to build solutions across our ecosystem,” Astar team explained in a statement on Sept.
I’m excited to welcome @AstarNetworkthe leading @Polkadot Ethereum chain. They will launch a chain using zkEVM @0xPolygon CDK, an Ethereum L2 secured by ZK!@AstarNetwork is Japan’s leading blockchain. After the launch, it quickly became one of the most popular… pic.twitter.com/0SgYE6ENet
— Sandeep Nailwal | sandeep. polygon (@sandeepnailwal) September 13, 2023
Polygon Labs hopes that the ZK-powered chain will enable businesses to implement Web3 solutions with increased speed, scalability, and security in Japan – where Astar is based – and around the world.
Ryan Sean Adams, co-host of the Ethereum show Bankless said that the two latest migrations to Ethereum could be the beginning of a rollup avalanche.
The largest chain from polkadot has recently moved to Ethereum. (Aster)
The largest public commons chain from Cosmos has just become Polygon Validium. (Canto)
And…I heard that the world’s first Solana Virtual Machine (SVM) L2 is dropping tomorrow.
Ethereum rollups are eating the world.
— RYAN SΞAN ADAMS – rsa.eth (@RyanSAdams) September 18, 2023
Not all protocols remain on Ethereum
Meanwhile, some protocols appear to work the other way around.
Decentralized exchange dYdX has announced its intention to build a “purely decentralized” exchange on the Cosmos order book as part of a plan to migrate from Ethereum in early September.
Another Ethereum-native protocol, Maker, signaled plans to move to cut ties with Ethereum and build a new, more “efficient” chain with Solana’s codebase in September as well.
Related: Idealistic Ethereum built on zkEVM Scroll launched in weeks
Maker co-founder Rune Chistensen added that Solana currently stands as the “most promising” ecosystem to explore because it proved its resilience during the FTX debacle and has a high-quality pool of talent developers. who founded Solana.
The final phase of Endgame is the launch of a native blockchain for the Creator with the codename NewChain
This will make the ecosystem more secure and efficient
After some research, I believe that the Solana codebase should be considered the basis of NewChainhttps://t.co/KyGxBBGlVH
— Rune (@RuneKek) September 1, 2023
Nonfungible token collection OnChainMonkey also transferred the entire collection of 10,000 NFTs from Ethereum to Bitcoin. The team behind the protocol cited a more secure base layer and a thriving Bitcoin Ordinals ecosystem as the main reasons behind the migration plan.
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