ConsenSys has initiated the onboarding process for its Linea network, another layer-2 scaling solution integrated into the Ethereum ecosystem, which has demonstrated notable scaling achievements during its testing phase.
Linea, an Ethereum layer-2 scaling network, enables developers to create or transfer decentralized applications for Ethereum, utilizing zero-knowledge proofs and providing compatibility with the Ethereum Virtual Machine (EVM), allowing seamless interaction with the Ethereum blockchain.
During the extended testnet period, over 5.5 million unique wallets conducted more than 46 million transactions, leading to ConsenSys highlighting Linea’s enhanced performance, reduced transaction expenses, and improved user experience.
Commencing on July 11, the alpha release of Linea involved over 100 partners, and ConsenSys boasts of its superior performance with increased throughput and transaction fees that are 15 times lower than those on Ethereum’s mainnet.
Linea is integrated with ConsenSys’ Ethereum browser wallet MetaMask, allowing Linea users to utilize its token bridge, swap, and buy functionalities.
ConsenSys’ CEO and founder, Joseph Lubin, acknowledged that the proliferation of various Ethereum scaling protocols and solutions is a crucial factor motivating the evolution of Web3 applications and their features.
“With the Merge to Proof of Stake and the broad traction of the rollup-centric roadmap, Ethereum L2s are set to play a crucial role in making great advances in scalability and usability.”
Based on the information shared by Cointelegraph, decentralized finance (DeFi) applications are moving to Linea to leverage its speedy finality, cost-effective bridge, and security obtained from Ethereum’s mainnet.
ConsenSys has recently unveiled the Linea Ecosystem Investment Alliance (EIA), an initiative that will involve the participation of over 30 venture capital firms who will provide financial support as well as advisory assistance to ecosystem builders.
As Linea’s alpha mainnet goes live, several measures will be put in place to safeguard users, DApps, and the network as a whole. One such measure is the restriction of call execution to launch partners alone during the first week, among other protective mechanisms.
ConsenSys plans to make the network accessible to the public during ETHCC in France starting July 17th. However, there may be certain restrictions on withdrawals during the initial 90 days. Prior to fully opening Linea to end users, the company will conduct a bug bounty program and closely monitor the performance of the system.
In 2023, Ethereum layer 2 solutions have been a significant topic of discussion. Polygon, a development company specializing in layer 2 solutions, publicly launched its zkEVM network in March 2023. At the same time, Starknet, founded by Eli Ben-Sasson who is recognized for his work on zk-proofs, has been primarily focused on enhancing the throughput of its network this year.
#Ethereum #ConsenSys #Linea #zkEVM
