ConsenSys Launches Linea Network To Boost Ethereum Scalability
- Linea uses zero-knowledge proofs and is EVM-compatible.
- ConsenSys claims quicker throughput and 15 times cheaper transaction costs.
ConsenSys is beginning to onboard partners to their Linea network, which has generated substantial scaling milestones in testing. And this is great news for the Ethereum ecosystem as a whole.
Linea is a layer-2 scaling network for Ethereum that facilitates the creation of, and migration to, decentralized applications. It uses zero-knowledge proofs and is EVM-compatible, thus its applications may communicate with the Ethereum blockchain without any further development.
Quicker Throughput and Cheaper Transactions
During the testnet phase, about 5.5 million individual wallets processed over 46 million transactions. ConsenSys detailed the enhancements made to Linea during testing that enhanced performance, reduced transaction costs, and enhanced the user experience.
ConsenSys claims quicker throughput and 15 times cheaper transaction costs than those processed on Ethereum’s mainnet. And the gradual alpha rollout started on July 11 with more than 100 partners. Users of Linea may use the Ethereum browser wallet MetaMask from ConsenSys, allowing them to purchase, sell, and exchange tokens.
The proliferation of layer 2 Ethereum scaling protocols and solutions was singled out by Joseph Lubin, founder, and CEO of ConsenSys, as a major factor propelling the development of Web3 apps and features.
In light of Linea’s rapid finality, capital-efficient bridge, and the security inherited from Ethereum’s mainnet, a recent announcement was made that highlights decentralized finance (DeFi) apps making the switch.
Meanwhile, the network provides low latency, fast throughput, and cheap gas prices, all of which are essential for decentralized apps, games built on the blockchain, and social networks. More than 30 venture capital companies are participating in the Linea Ecosystem Investment Alliance (EIA), which was also created by ConsenSys.
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Read more: https://thenewscrypto.com/consensys-launches-linea-network-to-boost-ethereum-scalability/
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
