Did L2 Fragment Ethereum? - With Yuval Rooz, Co-founder & CEO of Canton Network

A deep dive into Canton: a privacy-first, composable network bridging TradFi and crypto—DTCC treasury tokenization, supervalidators, and when to use public chains versus private ledgers.

Key Takeaways

Canton is a network-of-networks: sovereign "Cantons" with configurable governance, privacy, and sequencers, composing atomic cross-canton transactions via Mainnet for interoperability.
Privacy by design: Canton shares ledger data only with transaction stakeholders, avoiding anonymity; zero-knowledge can scale but carries exploitable bug risks for trust-sensitive finance.
Use public chains for composability or censorship resistance; use private ledgers for high-frequency, low-cost issuer operations to avoid unnecessary Mainnet fees.
DTCC is piloting tokenized US Treasuries on Canton, enabling native on-chain treasuries, real-time treasury↔stablecoin swaps, and large-scale TradFi settlement use cases.
Supervalidators (~40) provide layer‑1 consensus; selection prioritizes long-term, network-positive commercial operators via governance votes rather than large financial stakes.
Sequencer choice matters: centralized sequencers risk censorship or halted writes; Canton lets canton creators choose sequencer models and control access.

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