POLY

Astar Announces Ethereum L2 but is “Not Ditching Polkadot”

by BSC News

September 19, 2023

chain

Polygon's zkEVM protocol facilitates Astar Network's transition to Polygon 2.0, providing greater scalability without compromising Ethereum-based dApp interoperability.

Astar Unveils Ethereum Layer-2 (L2) Solution 

Japan-based blockchain platform Astar Network has revealed its strategic partnership with Polygon Labs to introduce a ZK-powered Layer 2 (L2) chain on the Ethereum network. By harnessing the Polygon Cross-Chain Developer Kit (CDK) and the power of zero-knowledge (ZK) technology, Astar Network aims to provide an L2 solution that revolutionizes the capabilities of blockchain technology.

Sota Watanabe, the founder of Astar Network, emphasized that the partnership with Polygon Labs would enable enterprises to kickstart their blockchain initiatives. 

Astar Network's approach allows developers to leverage its platform to deploy dApps on various blockchain networks. The addition of zkEVM to the Astar ecosystem enhances this multichain functionality. 

The project envisions serving as a gateway for enterprise adoption not only in Japan but also on a global scale.

The Power of zkEVM

This integration combines the capabilities of zero-knowledge technology with the Ethereum Virtual Machine (EVM). The result is enhanced scalability without compromising the interoperability of Ethereum-based dApps.

Developers can seamlessly launch existing EVM smart contracts on zkEVM with minimal modifications to the codebase. This transition reduces transaction costs, enhances the user experience, and bolsters the potential for broader blockchain adoption.

In a recent tweet, Astar Network made it explicitly clear that its collaboration with Polygon Labs does not signify a departure from its commitment to Polkadot. This clarification comes in response to earlier reports that suggested otherwise. 

Worth noting, on Sept. 12, Sony announced a joint venture with Astar Network to develop a blockchain. Despite recent developments within the Astar network ecosystem, its native token fell by 13.5% in a week. Astar Network (ASTR) is trading at $0.05135 as of writing. 

Astar Network (ASTR) weekly price chart (Source: CoinMarketcap)

Disclaimer

Disclaimer: The views expressed in this article do not necessarily represent the views of BSCNews. The information provided in this article is for educational and informational purposes only and should not be construed as investment advice. BSCNews assumes no responsibility for any investment decisions made based on the information provided in this article

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