As you may have noticed, Polygon (MATIC) has been one of the best-performing cryptocurrencies today, outperforming both Bitcoin and Ethereum:
One of the most recent developments on Polygon is the migration of Canto, a Layer 1 blockchain focused on decentralized finance, to a zero-knowledge Layer 2 on Ethereum powered by Polygon Chain Development Kit (CDK). This is a significant development for Polygon, as it shows that the platform is capable of attracting high-profile projects.
CDK is a permissionless and open source technology that can be used to design and build ZK chains. Chains designed with CDK retain independence without sacrificing modularity, and will join a unified ecosystem of ZK L2s connected to one another.
The migration of Canto to Polygon is a positive development for both projects. For Canto, it will provide access to a larger and more liquid market. For Polygon, it will add a new and exciting project to its ecosystem.
However, it is important to note that a short-term correction is likely for Polygon. The cryptocurrency market is volatile, and even the best-performing assets can experience sell-offs. Therefore, it is important to invest carefully and to do your own research.
Disclaimer: This article is not financial advice. I am not a financial advisor. Please do your own research before investing in any cryptocurrency.
