Polygon Co-founder Proposes New zk-Powered Ethereum L2 Chain for ApeCoin

Polygon co-founder Sandeep Nailwal has filed a new proposal in a bid to launch a new zk-powered Ethereum Layer-2 scaling solution for ApeCoin.

The proposal was published on the ApeCoin forum and titled “AIP Idea: ApeChain – A zk-Powered Polygon Layer-2 to Support ApeCoin Growth.” As one of the most brilliant innovators in the Web 3.0 ecosystem, the proposal has sparked a lot of thesis across the board.

The Proposal, Scope, and Goal

The proposal targets the ApeCoin ecosystem with the right tool to chart a new growth course. Per the proposal, Sandeep Nailwal wants the ApeCoin DAO to develop its zk-based L2 using the Polygon Chain Development Kit (CDK).

The Polygon Chain Development Kit (CDK) is an open-source code foundation that allows developers to forge their unique layer two blockchains, enriched with Polygon’s advanced ZK technology.

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As he highlighted, the venture will feature the emergence of a “dedicated ApeCoin zk-L2 chain” maintained by an “implementation partner.” 

While an ecosystem partnership with Polygon will bootstrap the entire venture, Nailwal also proposed that a dedicated fund should be earmarked from the ApeCoin Treasury to incentivize the emergence of Decentralized Applications (DApps) and user-focused innovations.

The history of the ApeCoin ecosystem dates back to the debut of the Bored Ape Yacht Club (BAYC) Non-Fungible Token (NFT) collection by Yuga Labs. As an Ethereum-based digital collectible, the team behind the collectible decided to create a new protocol to bypass the growing fees on the Ethereum network.

The proposal from the Polygon co-founder, which promises some benefits, including the ability to scale, is one of the most ambitious received since the plan was first unveiled.

Precedent to Follow

Building an entirely new L2 blockchain protocol based on the CDK of an existing one is not uncommon in the crypto scene. This model was what powered the emergence of Coinbase’s Base layer-2 network. Base, built from Optimism’s development stack, has charted its growth path with impressive milestones to show today.

While Polygon has recently birthed the Polygon zkEVM protocol, Nailwal has been largely insatiable in wooing other protocols to leverage his inventions. Like ApeCoin, he once proposed that Shibarium embrace the Polygon zkEVM for scalability.

 Nailwal is optimistic that ApeChain will contribute to broader crypto evolution as it will “ultimately bring not only more users into the ApeCoin ecosystem but also additional activity and creation of all types of value (content, assets, data, and the like).”

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• Source: https://thecryptobasic.com/2023/10/11/polygon-co-founder-proposes-new-zk-powered-ethereum-l2-chain-for-apecoin/?utm_source=rss&utm_medium=rss&utm_campaign=polygon-co-founder-proposes-new-zk-powered-ethereum-l2-chain-for-apecoin