Home | Crypto News | Consensys Introduces Linea Zkevm To Scale Ethereum Even More

Consensys Introduces Linea Zkevm To Scale Ethereum Even More

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ConsenSys launched the scaling network Linea, which outperformed Ethereum’s layer 1 in terms of throughput and transaction costs by 15 times.

As ConsenSys begins onboarding partners to their Linea network, which has achieved important scaling milestones in testing, the Ethereum ecosystem welcomes yet another layer-2 scaling solution.

Developers can create or migrate decentralized Ethereum applications using the Linea layer-2 scaling network. Since it uses zero-knowledge proofs and is identical to the Ethereum Virtual Machine (EVM), its applications can communicate with the Ethereum blockchain without any issues.

During the network’s protracted testnet period, nearly 46 million transactions were made by 5.5 million different wallets. Through its testing phase, ConsenSys identified enhancements to Linea’s functionality, transaction costs, and user experience.

With more than 100 partners, the gradual alpha release started on July 11 and ConsenSys boasts 15 times lower transaction fees than those carried out on the mainnet of Ethereum.

Linea users get access to MetaMask’s token bridge, swap, and buy features thanks to its integration with ConsenSys’ Ethereum web wallet.

Joseph Lubin, the founder and CEO of ConsenSys, emphasized the variety of layer 2 Ethereum scaling protocols and solutions as a significant factor influencing the creation of Web3 applications and functionality:

“Ethereum L2s are set to play a crucial role in making great advances in scalability and usability,” according to the Merge to Proof of Stake and the widespread traction of the rollup-centric roadmap.

Decentralized finance (DeFi) applications are moving to Linea to take advantage of its rapid finality, capital-efficient bridge, and inherited security from Ethereum’s mainnet, according to the announcement shared with Cointelegraph.

Additionally, the network provides lower gas fees, fast throughput, and low latency, all of which are essential for running non-fungible tokens, blockchain gaming, and social applications.

ConsenSys also unveiled the Linea Ecosystem Investment Alliance (EIA), through which more than 30 venture capital firms will support ecosystem builders with funding and advice.

Users, DApps, and the network itself will all be protected throughout the alpha mainnet launch of Linea. This includes restricting calls to the network from launch partners during the first week.

ConsenSys plans to launch the network starting on July 17 during ETHCC in France, with some withdrawal restrictions maybe put in place for the first 90 days. Before completely releasing Linea to end users, the company will conduct a bug bounty and keep track of system performance.

Ethereum layer 2s have generated a lot of discussion in 2023. In March 2023, Layer 2 development company Polygon also made its zkEVM network publicly available. Starknet, whose creator Eli Ben-Sasson invented zk-proofs, has instead concentrated on boosting network throughput this year.

Jay Solano

Jay Solano

Jay is a crypto and NFT enthusiast dedicated to exploring the dynamic world of digital assets. As a crypto blog writer, he is sharing his knowledge of the latest trends, breakthroughs, and investment opportunities in the blockchain world.

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