Cosmos-based layer-1 blockchain – Canto – is migrating to a zero-knowledge layer 2 on Ethereum powered by Polygon Chain Development Kit (CDK). The transfer aligns with Canto’s plans to construct a blockchain devoted to real-world belongings.
The event comes amidst a big shift within the Ethereum layer-2 house.
Migration to Ethereum ZK-powered L2
Canto is a layer-1 blockchain initially centered on decentralized finance (DeFi) and is now migrating to a zero-knowledge Layer 2 answer on Ethereum utilizing Polygon CDK. This transfer goals to create a blockchain ecosystem devoted to real-world belongings. Canto, which was launched in 2022, presents an EVM execution layer and important monetary instruments, with its improvement ruled by the Canto Commons, an open framework.
As soon as consensus is achieved inside the Canto Commons, core devs can be ready to construct a ZK L2. With the assistance of a shared ZK bridge, Canto will ultimately leverage the liquidity of a “unified Polygon ecosystem” with easy accessibility to Ethereum.
In accordance to the official blog post, Canto is ready to combine the Plonky2 ZK, proving implementation and sustaining its proof-of-stake validator set for decentralized sequencing. This transition is not going to affect Canto’s validators or stakers, making certain continuity for them whereas enhancing decentralization and trustless assurances for customers participating in asset bridging.
Moreover, Canto’s builders will shift in direction of using a shared ZK bridge for dealing with canonical belongings.
The migration to an Ethereum ZK-powered Layer 2 represents a step in direction of a “neofinance” future, emphasizing the protocolization of conventional finance.
The principle goal of neofinance is leveraging blockchain know-how for higher monetary effectivity at scale, whereas Polygon CDK is tasked with offering the mandatory modular infrastructure. This strategy prioritizes deep liquidity whereas sustaining safety and trustlessness by means of Ethereum’s ZK-powered Layer 2.
“By becoming a member of a rising variety of chains that extends blockspace, the transfer displays a big step towards a ‘neofinance’ future or the protocolization of present finance. Neofinance envisions a brand new period of monetary efficiencies, unlocked at scale, by deploying offchain belongings on protocol rails. Blockchain-specific benefits of effectivity, entry, and composability might be unlocked for offchain belongings by means of the modular design of Polygon CDK.”
With the most recent improvement, Canto joins a rising listing of initiatives, together with Astar, Gnosis, and IDEX, which have revealed their intentions to construct ZK layer-2 options using Polygon’s Chain Development Kit over the previous few months.
Large information. @CantoPublic is becoming a member of the Ethereum ecosystem! Constructed with @0xPolygon CDK, Canto is migrating to a ZK-powered Ethereum L2 that can turbocharge the neofinance revolution.
I’m an enormous fan of @scott_lew_is and excited to work with him and different core Canto contributors on… https://t.co/XlRofpdyAO
— Sandeep Nailwal | sandeep. polygon 💜 (@sandeepnailwal) September 18, 2023
Polygon ‘Chain Development Kit’ for ZK-Powered Networks
The scaling answer released a toolkit designed for builders, enabling them to construct blockchain networks powered by ZK proofs.
This open-source codebase, referred to as the Chain Development Kit (CDK), permits builders to construct customizable layer-2 chains utilizing Polygon’s ZK know-how, with the power to interconnect these chains by means of a ZK-based bridge, making a unified ecosystem referred to because the “Worth Layer.”
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