Canto, a layer-1 blockchain native to the Cosmos ecosystem, has recently announced its migration to Ethereum as a layer 2 zero-knowledge rollup. This move follows a similar decision by Astar, another layer-1 blockchain transitioning from the Polkadot ecosystem to Ethereum. Canto is a permissionless blockchain that aims to attract traditional financial institutions to decentralized finance applications. The agreement reached by Canto Commons, a framework for coordinating ideas and solutions to the protocol, will see the development of a ZK rollup on Ethereum’s second layer. This will allow Canto to access the liquidity of the unified Polygon ecosystem with ease. The migration to Ethereum will also enhance Canto’s security and decentralization, as it will inherit Ethereum’s security features. Canto’s validators and staking system will remain unchanged during this transition. Other projects, such as Astar, Gnosis Pay, Palm, and IDEX, have also announced plans to build ZK layer 2 solutions using Polygon’s Chain Development Kit. Polygon Labs co-founder, Sandeep Nailwal, believes that these moves to Ethereum could mark the beginning of a rollup trend. However, while some projects are migrating to Ethereum, others are moving away from it. For example, decentralized exchange dYdX intends to build a “purely decentralized” order book exchange on Cosmos, signaling its departure from Ethereum. Additionally, Maker plans to cut ties with Ethereum and develop a more efficient chain using Solana’s codebase. OnChainMonkey, a nonfungible token collection, is also shifting its entire collection from Ethereum to Bitcoin, citing a more secure base layer and a thriving Bitcoin Ordinals ecosystem as the main reasons behind the migration.
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About the author - J-S Tremblay
I've been involved in the cryptocurrency world since 2016 and trading since 2019. I started Moon and Lambo in 2021. I'm passionate about crypto and love to share my knowledge. I hate bankers and I hope that cryptocurrency will change the financial world for the better. View full profile...
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