Dogechain is Addressing the Lapses of Cross-Chain Bridges by Moving to Polygon CDK to Enable Atomic Bridging
Dogechain’s decision is a smart one!
Amidst the many reasons to move from Polygon Edge to Polygon zkEVM, ensuring a safe and secure bridging process between chains was the most crucial.
Cross-chain bridges and atomic swaps are two methods for enabling the exchange of crypto tokens across different blockchain networks.
Fact: I’d choose atomic bridging over multi-chain bridges any day.
Polygon CDK will enable atomic swaps between chains, which is favourable in all the good ways.
Cross-chain bridges establish connections between blockchains by facilitating the transfer of assets via locking/unlocking or minting/burning mechanisms.
When an asset is sent from its chain to another, it is locked in a vault and a new version of it, which represents the value of the asset in the destination chain, is minted
This makes cross-chain bridges very vulnerable because the vault can easily be hacked. Multi-chain and cross-chain hacks have been prevalent recently, leading to a lot of significant losses.
On the other hand, atomic bridging uses a virtual vault or cryptographic escrow account, known as a hash timelock contract (HTLC), to keep user funds safe. They execute only when the correct amount of tokens has been deposited into the contract.
Atomic bridging is trustless and allows any two users to swap digital tokens without relying on a third party to facilitate the transaction, reducing counterparty risks. This has led to an increased adoption of this type of bridge.
Dogechain is the blockchain network that powers Dogecoin, enabling the memecoin to be plugged into the world of interoperability and scalability.
This blockchain network recently proposed a migration to Polygon CDK, a new layer-2 network framework that runs on zero-knowledge cryptography.
Dogechain once suffered from the wiles of cross-chain bridges with the Multichain bridge hack. This hack led to the de-pegging of the stablecoins on the chain.
Although a lot of loss was not invited, Dogechain decided to look into better ways for interoperability and Polygon CDK is it!
After a 2-week community governance voting process, the proposal passed with over 98% of voters in favour of the migration.
In this article, we will discuss the details of the migration and what it means for the future of Dogecoin and the broader blockchain ecosystem.
What is Polygon CDK?
Polygon CDK is a Chain Developer Kit, a new framework for creating different kinds of rollups on Polygon. It allows developers to easily launch their chain, whether it is a testnet or something else, and it is flexible.
Currently, the main option for CDK is zkEVM, a virtual machine that generates zero-knowledge proofs to verify the correctness of smart contracts executed off-chain.
Polygon CDK offers a trustless bridge to Ethereum and other Polygon CDK chains, allowing for smooth communication and interoperability between them.
The Chain Developer Kit consists of various components that enable chains to become rollups of Ethereum and access their full potential.
Polygon zkEVM: The Atomic Bridge for ETH L2s and zkEVMs.
Polygon CDK as a framework is launching zero-knowledge (ZK) L2 chains on Ethereum to achieve unlimited scalability and interoperability through trustless atomic bridging.
Atomic trustless bridging is the ability to transfer assets or data between different L2 chains or L2 and L1 without relying on a third-party intermediary or a long withdrawal period.
Polygon CDK achieves this by using ZK proofs, which are cryptographic guarantees that a state transition is valid and consistent with the chain's rules.
ZK proofs can be verified by anyone, and they cannot be forged or manipulated. Therefore, ZK proofs enable secure and fast bridging between Polygon CDK chains and Ethereum and between different Polygon CDK chains in the future.
Dogechain’s Migration To Polygon CDK
Dogechain’s migration to Polygon CDK is expected to offer several benefits to the network.
- It will enable faster and cheaper transactions, as the new framework is powered by zero-knowledge cryptography.
- It will enhance the security and privacy of the network, keeping sensitive information data safe and enclosed.
- It will allow Dogechain to accommodate more apps, transactions, and users via the ZK technology.
- It will increase the level of interoperability of Dogechain with other networks in the Polygon ecosystem, as well as Ethereum.
This means that Dogechain and other Polygon CDK chains can all connect without relying on any intermediaries. All these chains will be able to cooperate smoothly using trustless bridging.
Conclusion
Dogechain’s migration to Polygon CDK marks an important step for the network and the broader blockchain ecosystem. This move is expected to offer a more integrated and unified environment that benefits developers, users, and the broader ecosystem alike.
This is a step towards a more secure and scalable solution. It is clear that cross-chain interoperability is a critical piece of infrastructure for the Web3 ecosystem, and the move is a promising development in this direction.
We await the roadmap for the migration. Anticipate!
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