Sandeep Nailwal, the cofounder of Polygon, a leading Ethereum scaling solution, has put forward a proposal to build a custom Layer 2 network for ApeCoin, a decentralized autonomous organization (DAO) that aims to foster innovation and collaboration in the crypto space.
The proposal, posted on the ApeCoin DAO forum, suggests creating ApeChain, a zero-knowledge-powered Ethereum Layer 2 network that will be dedicated to the ApeCoin community and its ecosystem. ApeChain will leverage Polygon’s Chain Development Kit (CDK), a set of tools and frameworks that allows developers to easily create and deploy scalable and secure blockchain networks.
ApeChain Proposal Could Compete Directly with Shibarium
According to Nailwal, ApeChain will offer several benefits to the ApeCoin community, such as:
- High scalability and low transaction fees for applications such as games and consumer-oriented projects.
- Staking rewards for validators who secure the network.
- Compatibility and interoperability with Polygon’s suite of solutions, including Polygon PoS, Polygon zkEVM, and Polygon Miden.
- Access to a wide range of decentralized applications (dApps) within the Polygon ecosystem that use ApeCoin as a gas or staking token.
Nailwal estimates that the development and deployment of ApeChain could be completed within 16 weeks, divided into four phases: design, implementation, testing, and launch.
He also outlines the promotional and ongoing development strategies for ApeChain, such as creating a dedicated website, social media channels, documentation, and tutorials, as well as conducting audits, bug bounties, hackathons, and partnerships.
The proposal has received positive feedback from the ApeCoin community, with many members expressing their support and interest in the project. Nailwal has also invited the community to share their opinions and suggestions on the proposal, as well as to vote on whether to proceed with the project or not.
ApeChain is one of the many initiatives that Nailwal has been involved in to expand the reach and capabilities of the Polygon network. He has also proposed facilitating Celo’s migration to an Ethereum Layer 2 network using the CDK, as well as building a rival network to Shibarium, a Layer 2 solution for Shiba Inu.
Polygon is one of the most popular and successful Ethereum scaling solutions, with over 600 dApps running on its network. Polygon aims to provide a scalable, secure, and user-friendly platform for Ethereum-compatible blockchain networks.