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Polygon Cofounder Wants to Build Shibarium Rival

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Wed, 11/10/2023 - 13:14
Polygon Cofounder Wants to Build Shibarium Rival
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Sandeep Nailwal, the cofounder of Polygon Labs, has proposed the creation of a novel zero-knowledge-powered Ethereum Layer 2 network for the ApeCoin ecosystem to rival Shibarium. Nailwal highlighted in a proposal that the potential L2, called ApeChain, will be dedicated to the ApeCoin DAO community and will bring remarkable advancements to the blockchain ecosystem. 

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Utilizing Polygon’s Chain Development Kit (CDK), this Layer-2 solution is expected to provide the ApeCoin community with the necessary scalability for applications such as games and consumer-oriented projects. Additionally, ApeChain is poised to offer staking rewards for validators and lower transaction fees, all while benefiting from Ethereum's robust security features.

According to Nailwal, the implementation of ApeChain could be achieved within a relatively short time frame, spanning 16 weeks over four phases. Once deployed, ApeChain is expected to go through promotional and ongoing development stages, further strengthening its presence in the crypto space.

Integration of ApeChain

Notably, ApeChain will be integrated with Polygon's suite of solutions, including Polygon PoS (which is upgrading to a zkEVM), Polygon zkEVM and Polygon Miden. 

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This integration will enable ApeCoin to be utilized by a wide range of decentralized applications (dApps) within the Polygon ecosystem, both for gas usage and staking-related activities.

It is worth noting that the Polygon CDK is already being utilized for the development of various Layer-2 solutions, including Immutable zkEVM, IDEX and Astar zkEVM, indicating the versatility and potential of this technology.

Nailwal, the driving force behind this initiative, has been quite active in proposing innovative blockchain solutions. Just last month, he floated the idea of facilitating Celo's migration to an Ethereum Layer-2 network using the CDK. These endeavors are in line with Nailwal's vision to expand the reach and capabilities of the Polygon network.

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Meanwhile, Shibarium is currently making waves in the crypto community. An earlier report revealed an astounding surge in the number of new users and total user involvement in the Shiba Inu network. Shibarium is a testament to the possibility of building a new functional L2 from an existing crypto project.

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