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The Ethereum ecosystem welcomes another layer-2 scaling solution as ConsenSys begins onboarding partners to its Linea network, which has created significant scaling milestones in testing.
Linea is an Ethereum layer-2 scaling network that allows developers to build or migrate decentralized applications to Ethereum. It operates using zero-knowledge proofs and is the Ethereum Virtual Machine (EVM).EVM) peer-to-peer, meaning its applications can interact seamlessly with the Ethereum blockchain.
The network went through a lengthy testnet period in which approximately 5.5 million unique wallets conducted over 46 million transactions. ConsenSys outlined improvements to Linea’s performance, transaction costs, and user experience during its trial period.
A gradual alpha release began on July 11 with over 100 partners and ConsenSys features faster throughput and 15x lower transaction fees than those executed on Ethereum’s mainnet.
Linea also integrates with ConsenSys’ Ethereum browser wallet MetaMask, giving Linea users access to its token bridge, swap and purchase functionality.
Joseph Lubin, Founder and CEO of ConsenSys, highlighted the number of Layer 2 Ethereum scaling protocols and solutions as a key component driving the growth of Web3 applications and functionality:
“With Proof of Stake merging and a Rollup-focused roadmap gaining widespread traction, Ethereum L2s are poised to play a key role in making great strides in scalability and usability.”
The announcement shared with Cointelegraph highlights decentralized finance (DeFi) applications moving to Linea to take advantage of the fast finality, capital efficient bridge and security inherited from Ethereum’s mainnet.
Meanwhile the network also offers low gas fees, high throughput and low latency, which are key components needed to power non-fungible tokens, blockchain gaming and social applications.
Related: Is ZK-Proof the Answer to Bitcoin’s Ordinal and BRC-20 Problems?
ConsenSys also launched its Linnea Ecosystem Investment Alliance (EIA), in which more than 30 venture capital firms will lend capital and advisory support to ecosystem builders.
The launch of Linea’s Alpha mainnet will use security measures to protect users, dApps and the network. This includes only allowing launch partners to execute calls on the network in the first week.
ConsenSys intends to open the network during the ETHCC in France from July 17, while some limits may be imposed on withdrawals in the first 90 days. The firm will conduct bug bounties and monitor system performance before fully opening up LIna to end users.
Ethereum Layer 2 has been a major talking point in 2023. Layer 2 development firm Polygon has also made its zkEVM network public in March 2023. Meanwhile Starknet, whose founder Eli Ben-Sasson leads zk-proof, has this time focused on increasing the throughput of its network. Year.
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