Canto, a Cosmos-native layer-1 blockchain, has announced plans to migrate to Ethereum as a layer 2 zero-knowledge rollup. The move will enable Canto to tap into Ethereum’s liquidity and inherit its security, allowing for more decentralization and trustless guarantees when bridging assets. Canto aims to onboard the traditional financial sector to decentralized finance applications. The migration to Ethereum follows similar moves by other blockchains like Astar, Gnosis Pay, Palm, and IDEX. Polygon Labs, the co-founder of Canto, hopes that the ZK-powered chain will enable businesses to implement Web3 solutions with increased speed, scalability, and security. Meanwhile, some protocols like dYdX and Maker are moving away from Ethereum to explore other ecosystems like Cosmos and Solana.
