Canto Migrates to Ethereum ZK-Powered Layer 2 Using Polygon CDK
Canto, a Cosmos-based layer-1 blockchain, is making a move to a zero-knowledge layer 2 solution on Ethereum with the help of the Polygon Chain Development Kit (CDK). The migration aligns with Canto’s vision of building a blockchain ecosystem dedicated to real-world assets. Initially focused on decentralized finance (DeFi), Canto now aims to create a “neofinance” future by protocolizing traditional finance.
Migrating to Ethereum ZK-powered L2
Canto, launched in 2022, provides an EVM execution layer and essential financial tools. The project is governed by the Canto Commons, an open framework that enables consensus among developers. By leveraging the Polygon CDK and integrating the Plonky2 ZK, Canto will maintain its proof-of-stake validator set for decentralized sequencing while enhancing decentralization and trustless assurances for users engaging in asset bridging.
The migration allows Canto to tap into the liquidity of the unified Polygon ecosystem and gain easy access to Ethereum. The use of a shared ZK bridge will enable Canto’s developers to handle canonical assets more efficiently.
Advancing Neofinance with Ethereum’s ZK-powered Layer 2
The migration to an Ethereum ZK-powered Layer 2 represents a significant step towards achieving neofinance goals. Neofinance aims to leverage blockchain technology for greater financial efficiency at scale. The modular infrastructure provided by Polygon CDK ensures deep liquidity while maintaining security and trustlessness through Ethereum’s ZK-powered Layer 2.
“By joining a growing number of chains that extends blockspace, the move reflects a significant step toward a ‘neofinance’ future or the protocolization of existing finance. Neofinance envisions a new era of financial efficiencies, unlocked at scale, by deploying offchain assets on protocol rails. Blockchain-specific advantages of efficiency, access, and composability can be unlocked for offchain assets through the modular design of Polygon CDK.”
Joining the Ethereum Ecosystem
Canto’s decision to migrate to Ethereum’s ZK-powered Layer 2 is part of a trend among various projects. Astar, Gnosis, and IDEX are among those building ZK layer-2 solutions using Polygon’s Chain Development Kit. The collaboration between Canto and Ethereum represents a significant step towards achieving the neofinance revolution.
Big news. @CantoPublic is joining the Ethereum ecosystem! Built with @0xPolygon CDK, Canto is migrating to a ZK-powered Ethereum L2 that will turbocharge the neofinance revolution.
I’m a big fan of @scott_lew_is and excited to work with him and other core Canto contributors on…
— Sandeep Nailwal | sandeep. polygon
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