Canto Takes Flight to Ethereum’s Layer 2, Paving the Way for a Neo-Financial Revolution

"Canto Embraces Migration to Polygon, Unlocking Access to Ethereum Ecosystem and Strengthening User Security"

Canto, a blockchain protocol, has announced its migration to the Polygon ecosystem, allowing it to leverage the unified ecosystem and seamless access to Ethereum. The move aims to enhance user security through the implementation of a ZK prover, which inherits cryptographic security from Ethereum. By eliminating the need for socio-economic incentives of fraud proofs, Canto aims to enhance trust and decentralization. The migration is contingent upon an official agreement reached by Canto Commons, where contributors collaborate on ideas and solutions. If an agreement is reached, Canto’s core developers will construct a ZK rollup on Ethereum’s second layer, aligning with the community’s principles of permissionless sovereignty and public liquidity.

Deep liquidity is crucial for the realization of neofinance at scale, and this is where the migration to an Ethereum ZK-powered L2 becomes significant for Canto. The protocol plans to utilize a Plonky2 ZK proving implementation while maintaining its proof-of-stake validator set for decentralized sequencing. This migration will not affect Canto’s existing validators or stakers.

Canto is not alone in its decision to migrate to Ethereum Layer 2. Earlier this year, Celo and Fantom also announced plans to become Ethereum Layer 2s, indicating a broader industry trend towards Ethereum’s ecosystem. Canto now joins the ranks of Astar, Immutable, IDEX, and Palm Network as ZK-based Layer 2s built by the Polygon network.

On September 13, the Astar team revealed its plans to develop Astar ZK-Ethereum Virtual Machine (EVM), its own Ethereum Layer 2 scaling solution, using Polygon’s CDK. This ZK-powered chain is expected to enable businesses to implement Web3 solutions with increased speed, scalability, and security in Japan and globally.

However, not all protocols are choosing to remain on Ethereum. In early September, decentralized exchange dYdX announced its intention to build a “purely decentralized” order book exchange on Cosmos as part of its migration away from Ethereum. Maker, another Ethereum-native protocol, also signaled its plans to sever ties with Ethereum and build a new, more efficient chain using Solana’s codebase.

Please note that this article was generated with the support of AI and has been reviewed by an editor.

Martin Reid

Martin Reid

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