Canto, a Cosmos-native layer-1 blockchain, has recently made the decision to migrate to Ethereum as a layer 2 zero-knowledge rollup. This follows a similar move by Astar, another layer-1 blockchain, which announced its plans to transition from the Polkadot ecosystem to Ethereum.
Canto is an Ethereum Virtual Machine (EVM)-compatible permissionless general-purpose blockchain that aims to bring the traditional financial sector into decentralized finance applications. As part of an agreement reached by Canto Commons, the framework where contributors collaborate on ideas and solutions for the protocol, the core developers will build a ZK rollup on Ethereum’s second layer.
The migration to Ethereum’s layer 2 will allow Canto to tap into the liquidity of the unified Polygon ecosystem. By leveraging a shared ZK bridge, Canto will have easy access to Ethereum and inherit its security measures. This will provide more decentralization and trustless guarantees for bridging assets.
Polygon Labs, the team behind Canto’s migration, stated that there will be no changes to Canto’s validators or staking system. The goal is to maintain continuity while benefiting from the enhanced features and security offered by Ethereum’s layer 2 solution.
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Canto is not alone in its decision to migrate to Ethereum’s layer 2 solution. Other projects, such as Astar, Gnosis Pay, Palm, and IDEX, have also announced plans to build ZK layer 2s using Polygon’s Chain Development Kit. This trend reflects the growing popularity and potential of Ethereum’s layer 2 solutions.
The move to Ethereum’s layer 2 is expected to have significant implications for the adoption of Web3 solutions in Japan and around the world. Polygon Labs hopes that the ZK-powered chain will enable businesses to implement solutions with increased speed, scalability, and security, further promoting the growth of decentralized finance.
Ryan Sean Adams, co-host of the Ethereum show Bankless, believes that the recent migrations to Ethereum could be the start of a rollup avalanche. With the largest chain from Polkadot (Astar) and the largest public commons chain from Cosmos (Canto) moving to Ethereum, there is a growing recognition of the benefits and potential of Ethereum’s layer 2 solutions.
However, not all protocols are sticking around on Ethereum. Decentralized exchange dYdX recently 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, has also signaled its plans to cut ties with Ethereum and build a more efficient chain using Solana’s codebase.
These migrations reflect the dynamic nature of the blockchain industry, with projects exploring different ecosystems to find the best fit for their needs. While Ethereum’s layer 2 solutions have gained significant traction, other platforms like Cosmos and Solana offer unique advantages that may be appealing to certain projects.
In conclusion, Canto’s migration to Ethereum’s layer 2 solution is a significant development in the blockchain industry. As more projects recognize the benefits of layer 2 solutions, Ethereum’s ecosystem is likely to continue growing and evolving. The competition between different platforms will drive innovation and provide more options for developers and users alike.
