Introduction
Polygon Labs co-founder Sandeep Nailwal recently introduced an innovative initiative on the ApeCoin (APE) DAO forum. The proposal aims to foster a collaborative effort between the ApeCoin community and Polygon Labs to create a private Layer-2 (L2) chain based on zero-knowledge (zk) technology, referred to as ApeChain.
Details of the Proposal
The primary objective of this proposal is to establish a symbiotic partnership between the ApeCoin DAO and an implementation partner specializing in the development of Web3 infrastructure and tooling products. Together, they will work on the creation and maintenance of ApeChain, a private L2 chain utilizing zero-knowledge technology. Moreover, the proposal includes plans for ecosystem collaboration with Polygon Labs, enhancing the overall development scope.
Background and Rationale
The ApeCoin cryptocurrency community has long recognized the necessity of transitioning to its own chain for enhanced scalability. This notion was initially introduced by Yuga Labs approximately 18 months ago. However, a previous vote by the ApeCoin DAO favored retaining ApeCoin within the Ethereum ecosystem.
ApeChain Development
If approved, ApeChain will be developed using the Polygon Chain Development Kit (CDK). This open-source toolkit provides developers with a convenient platform to launch zk-powered layer two solutions on Ethereum. The emphasis lies on modularity, ensuring a seamless development process with minimal complexities.
Conclusion
The collaboration proposal between Polygon Labs and the ApeCoin community marks a significant step towards fostering innovation and scalability within the cryptocurrency space. By leveraging zero-knowledge technology and industry expertise, this initiative has the potential to revolutionize the ApeCoin ecosystem, paving the way for a more efficient and decentralized future.
