Canto, a blockchain originally native to Cosmos’s layer-1, is the latest blockchain to embark on a migration journey to Ethereum, where it will function as a layer 2 solution utilizing zero-knowledge rollup technology. Astar, another layer-1 blockchain, previously unveiled similar plans as it transitioned from the Polkadot ecosystem to Ethereum.
Canto, an EVM-compatible permissionless blockchain, has set its sights on bridging the traditional financial sector with decentralized finance applications. Following a formal agreement reached through Canto Commons—a collaborative framework for contributors to align on ideas and protocol solutions—its core developers are poised to construct a zero-knowledge rollup on Ethereum’s second layer, as outlined by Polygon Labs on September 18th.
Polygon Labs affirmed that Canto will “adopt” Ethereum’s security measures, fostering increased decentralization and trustless assurances when facilitating asset bridging. They emphasized that user security will be fortified through the utilization of a top-tier, operational zero-knowledge (ZK) prover, ensuring that the community’s security relies on cryptography and is inherited from Ethereum, rather than being contingent on the social-economic incentives of fraud proofs.
Polygon Labs also noted that there will be no alterations to Canto’s validators or staking system.
Polygon Labs also made it clear that there will be no modifications to Canto’s validators or staking system.
Canto is the latest addition to a growing list of projects, including Astar, Gnosis Pay, Palm, and IDEX, that have recently revealed their intentions to develop zero-knowledge (ZK) layer 2 solutions using Polygon’s Chain Development Kit (CDK), as highlighted by Polygon Labs co-founder Sandeep Nailwal.
Notably, on September 13, the Astar team announced their plans to construct their Ethereum layer-2 scaling solution, referred to as the Astar ZK-Ethereum Virtual Machine (EVM). This initiative also leverages Polygon’s CDK. In a statement released on September 14, the Astar team explained that they are in the process of establishing a trustless bridge to Ethereum with a high EVM equivalence right from the start. This approach enables dApp developers to utilize existing tools to create solutions across the entire Astar ecosystem.
Polygon Labs envisions that the ZK-powered blockchain will empower businesses, both in Japan (where Astar is headquartered) and globally, to swiftly adopt Web3 solutions while enjoying enhanced speed, scalability, and security.
Ryan Sean Adams, co-host of the Ethereum-focused show Bankless, expressed the idea that the recent migrations to Ethereum by Astar and Canto could potentially trigger a cascade of rollup-based transitions, marking the beginning of a significant trend.
Not every protocol is opting to remain on Ethereum.
Conversely, some protocols are embarking on a different trajectory.
For instance, decentralized exchange dYdX declared its intention in early September to construct a “completely decentralized” order book exchange on Cosmos, signaling a move away from Ethereum.
Another Ethereum-native protocol, Maker, also indicated its plans in September to sever its ties with Ethereum and create a new, more “efficient” blockchain using Solana’s codebase. Maker’s co-founder, Rune Chistensen, cited Solana as the “most promising” ecosystem to explore, highlighting its resilience during the FTX incident and its impressive pool of talented developers actively contributing to Solana’s development.
The nonfungible token collection known as OnChainMonkey is undergoing a full-scale migration of its 10,000 NFTs from Ethereum to Bitcoin. The rationale behind this decision, as stated by the protocol’s team, primarily revolves around the desire for a more secure foundational layer and the flourishing Bitcoin Ordinals ecosystem.