April 19, 2024
Canto, Astar Blockchains Plan Migration to Ethereum Ecosystem as Layer 2s
Latest Cryptocurrency News

Canto, Astar Blockchains Plan Migration to Ethereum Ecosystem as Layer 2s

Canto, a layer-1 blockchain on the Cosmos network, is following the path of Astar in migrating to Ethereum as a layer-2 zero-knowledge rollup solution. Canto, an Ethereum Virtual Machine (EVM)-compatible blockchain, aims to facilitate the adoption of traditional financial institutions into the decentralized finance (DeFi) ecosystem. After an official agreement within Canto Commons — a framework for contributors — its core developers will build a ZK rollup on Ethereum’s second layer, allowing easy access to the Polygon ecosystem through a shared ZK bridge. Polygon Labs explained on Sept. 18:

“By leveraging a shared ZK bridge, Canto will eventually tap the liquidity of a unified Polygon ecosystem with easy access to Ethereum.”

Polygon Labs said Canto will “inherit” Ethereum’s security, enabling more decentralization and trustless guarantees when bridging assets over:

“User security comes by way of a best-in-class and in-production ZK prover, meaning community security is ensured by cryptography and inherited from Ethereum, rather than the social-economic incentives of fraud proofs.” There will be no changes to Canto’s validators or staking system, Polygon Labs added.

Canto joins the likes of Astar, Gnosis Pay, Palm, and IDEX to have announced plans to build ZK layer 2s using Polygon’s Chain Development Kit in recent months, according to Polygon Labs co-founder Sandeep Nailwal.

On Sept. 13, the Astar team announced it will soon begin 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 right out-of-the-box, so dApp developers can use existing tools to build solutions across our entire ecosystem,” the Astar team explained in a Sept. 14 statement.

https://twitter.com/sandeepnailwal/status/1701990949319254345?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1701990949319254345%7Ctwgr%5E04d9b1fa6b036208e18eaa6b9a79b70cf3c78ef8%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fcanto-and-astar-blockchains-plan-migration-to-ethereum-ecoystem

Polygon Labs hopes 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.

Image by Freepik

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