Ethereum

ConsenSys To Launch Linea, Its ZK-Rollup Network, On Main Ethereum Network

MetaMask developer ConsenSys plans to deploy its layer-2 network, Linea, on the main Ethereum network this week. Linea incorporates the use of zero-knowledge (ZK) cryptography, which is regarded as one of the most significant blockchain trends of the year.

Zero-knowledge (ZK) cryptography, provides more cost-effective and expedited blockchain transactions. This layer-2 network aims to improve scalability and transaction processing on Ethereum, addressing network congestion and high gas fees. According to ConsenSys, the fee rates for transactions on Linea will be 15 times lower than those on Ethereum main network.

The roll-up network implemented by Linea is commonly referred to as zkEVM, which stands for zero-knowledge Ethereum Virtual Machine. This roll-up network is designed to be fully compatible with the Ethereum Virtual Machine (EVM) programming environment. Roll-ups are also regarded as a crucial component of Ethereum’s development plan.

Related Reading: Bulls Remain Resilient Despite Litecoin’s Fall Below $100, Key Levels To Watch

Linea is being launched following a successful testnet phase, during which 5.5 million unique wallets performed over 46 million transactions in three months. According to ConsenSys, this achievement makes Linea one of the most active initiatives on Ethereum’s Goerli testnet.

App developers can deploy their projects to Linea’s “alpha” network on Friday, and the general public will have access to it starting next week.

Key Features Of Linea’s Alpha Mainnet Phase

Linea has introduced several significant upgrades with the release of its alpha mainnet stage. This includes a new outer-proof system and a dynamic fee mechanism.

Linea’s alpha mainnet stage includes a feature called batch conflation. This feature optimizes the number of layer-2 transactions and blocks that can fit into a layer-1 submitted batch. By doing so, Linea is able to reduce the fixed costs associated with layer 1 and provide a more cost-effective transaction experience.

Ethereum was priced at $1,860 on the one-day chart | Source: ETHUSD on TradingView

In addition to the lower transaction fees, the launch of Linea’s alpha mainnet stage is expected to reduce friction for developers and improve onboarding with fast finality, a capital-efficient bridge, and inherited Ethereum security. These upgrades will enable Linea to offer transaction costs that are substantially cheaper than Ethereum’s base layer.

MetaMask To Include Linea Support As Well

Featured image from The Information, chart from TradingView.com

Source link

Leave a Reply

Your email address will not be published. Required fields are marked *