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The Arcana network will tap on the Polygon Chain Development Kit (CDK) to further enhance the decentralization of its web3 products.
- The Polygon CDK is used by web3 developers to launch zero-knowledge layer two networks on the Ethereum network.
The Ethereum (ETH) network has established itself as a solid cornerstone for web3 development due to its secure smart contracts. The Ethereum network has grown to a vibrant layer-two ecosystem, which consists of more than 40 networks – led by Polygon (MATIC), Optimism (OP), and Arbitrum (ARB), among others.
Meanwhile, DeFi developers have been working on enhanced scalability through added consensus layers on the Ethereum layer twos. Consequently, the congestion on the settlement layer has dramatically decreased, whilst web3 protocols have obtained further decentralization.
Arcana Network Taps on Polygon CDK
According to the announcement, Arcana network will tap on Polygon Chain Development Kit (CDK), an open source codebase for launching zero knowledge-powered layer two chains for the Ethereum network, to enhance its bid for future-proof decentralization and scalability. The Arcana network will leverage the Polygon CDK to enhance its Arcana Validium protocol in a bid to boost user experience.
“Our move toward Polygon CDK signifies a monumental step towards a more decentralized and scalable future for Arcana Network. We are ready to unlock new realms of innovation and collaboration within the blockchain ecosystem,” Arcana network noted.
Onwards, the Polygon CDK tech stack will offer a full sequencer within Arcana’s app-specific Validium design. The integration offers unmatched advantages including secure on-chain scalability through the Polygon CDK ability to condense transactions while still maintaining EVM compatibility. The integration of the Arcana network and the Polygon CDK will also enable the latter’s high modularity, thus enhancing blockchain efficacy.
🚀Exciting News Alert!
As our Validium prepares for its debut, we will be building it with @0xPolygon CDK underneath!💜
Arcana Validium stands as our cornerstone, set to revolutionize the Web3 landscape. With Polygon CDK powering it, the possibilities are endless!👇… pic.twitter.com/xSn7I3b8YD
— Arcana Network $XAR (@ArcanaNetwork) April 3, 2024
Market Impact on Respective Networks
The Arcana network is a fast-growing web3 ecosystem with already three products launched since 2021. On the top list is the Arcana SendIt, which is compared to PayPal since it enables users to send crypto to an email address, thus enabling a seamless adoption of digital assets.
The Arcana Gasless is an ERC-4337-based solution that enables web3 developers to sponsor network fees for their respective users. The other product by Arcana is the Auth SDK, which is marketed as an easy way for developers to onboard users and offer them non-custodial wallets.
The integration of Polygon CDK and Arcana Network solidifies Polygon 2.0’s vision to seamlessly scale the Ethereum network. The Polygon CDK will eventually help the L2 increase in Total Value Locked, which currently stands at about $1 billion.
Price Analysis
The integration of the Arcana network and Polygon CDK will have a tangible impact on the respective coins in the upcoming crypto bull run. According to the latest market data, the XAR token dropped over 41 percent in the past 24 hours to trade around 47 cents on Thursday.
As Crypto News Flash reported, MATIC’s price is at a crucial crossroads that requires quick intervention from the bulls in the short term. Notably, MATIC’s price has dropped around 12 percent in the past seven days to trade about 89 cents at the time of this report.