Monday, April 15, 2024
Blockchain

Polygon Co-Founder Proposes zk-Powered ApeChain

On October 11, a proposal titled “AIP Idea: ApeChain – A zk-Powered Polygon Layer-2 to Support ApeCoin Growth” was presented by Sandeep Nailwal, Co-Founder of Polygon Labs, to the ApeCoin DAO community. The proposition entails the creation of a zero-knowledge powered Layer-2 (zk-L2) network, termed “ApeChain,” employing Polygon’s Chain Development Kit (CDK) to bolster ApeCoin ecosystem’s expansion. The endeavor would encompass a dedicated ApeChain constructed and sustained by an Implementation Partner, alongside collaborative efforts with Polygon Labs and a development fund from ApeCoin DAO to nurture the progress of ApeCoin-integrated ventures and ApeChain-related public assets.

The ApeCoin community has recognized the necessity for ApeCoin to transition to its own chain for enhanced scalability, a sentiment echoed by Yuga Labs around 18 months prior. While an ApeCoin-specific chain’s deliberation continues, this proposal steps in to recommend a dedicated ApeChain using Polygon CDK, which facilitates developers in launching their Ethereum-based zk-powered L2 networks effortlessly with a focus on modularity.

ApeChain aims to provide a dedicated, cost-effective, and ultra-premium blockspace for ApeCoin DAO and its members, potentially offering sequencer fees and staking rewards to network validators, thereby addressing the scalability issue. Chains developed using Polygon CDK have witnessed significant adoption due to its flexibility in scaling Ethereum while ensuring maximal decentralization and security.

With an extensive network of decentralized applications (dApps) and millions of daily transactions, Polygon’s architecture stands as a robust and stable Ethereum L2 scaling solution. The proposal suggests that ApeChain will provide an efficient, secure, and decentralized execution environment for ApeCoin DAO projects, propelling the ApeCoin ecosystem towards remarkable growth.

The estimated cost for developing, deploying, and maintaining ApeChain is projected at approximately $200,000 annually from ApeCoin DAO. The proposal underscores the critical juncture ApeCoin DAO is at, and by deploying ApeChain using Polygon CDK, it continues to stride towards its mission of evolving into a decentralized protocol layer for community-led initiatives advancing culture into the metaverse.

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