Ethereum Scaling Race Heats Up
ConsenSys, the blockchain software company behind the popular MetaMask crypto wallet, has opened up the testnet for its zero-knowledge rollup to developers and users.
Linea is one of several emerging zkEVM solutions seeking to couple Ethereum compatibility with the security and performance of zero-knowledge proofs.
ConsenSys said dApps deployed on Linea will be easily accessible via MetaMask wallet. Linea also offers native integrations with ConsenSys’s infrastructure and tooling for developers.
Linea’s private testnet launched in January and processed 1.5M transactions in the first few weeks following its launch, according to the project.
L2 Season
Ethereum’s Layer 2 ecosystem is becoming increasingly competitive, with Matter Labs’ mainnet launch of its zkEVM solution on March 24 and Polygon following with the beta launch of its zkEVM on March 27. Linea also faces competition from Coinbase’s new Layer 2, Base, and the forthcoming zkEVM from Scroll.
Ethereum’s scaling ecosystem is currently dominated by optimistic rollup solutions Arbitrum and Optimism, the two largest L2s by total value locked. Arbitrum and Optimism represent 66% and 22% of L2 TVL, respectively, according to L2beat.
Rollups work by bundling together transactions on Layer 2 before submitting them to the mainnet in batches for finalization, reducing the transaction fees incurred by each individual transaction.
Optimistic rollups quickly rose to prominence thanks to their high compatibility with the EVM, Ethereum’s core smart contract engine, but require a seven-day delay on mainnet withdrawals for fraud detection.
By contrast, previous zero-knowledge-based rollups offered fast finalization but required developers to rework their code in native coding languages. However, the new generation of zkEVMs promises to combine the EVM compatibility of Optimistic rollups with the fast finalization and security benefits of zero-knowledge-based solutions.
ConsenSys raised $450M in a Series D funding round last March, bringing its valuation to $7B.
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- Source: https://thedefiant.io/consensys-linea-zkevm/
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