Summary
ConsenSys has developed Linea, a layer-2 scaling network for Ethereum that offers quicker throughput and significantly cheaper transaction costs. During testing, Linea processed over 46 million transactions, with performance enhancements resulting in a more efficient user experience. The alpha rollout began on July 11 with over 100 partners already onboarding. Linea is attracting decentralized finance (DeFi) apps due to its rapid finality, capital-efficient bridge, and secure infrastructure inherited from Ethereum’s mainnet.
Introduction
ConsenSys is introducing Linea, a layer-2 scaling network designed to improve the Ethereum ecosystem. Linea utilizes zero-knowledge proofs and is EVM-compatible, enabling seamless communication with the Ethereum blockchain without requiring any additional development. With faster throughput and significantly lower transaction costs than the Ethereum mainnet, Linea is set to revolutionize decentralized applications (dApps) and facilitate the creation and migration of dApps.
Main Points
During Linea’s testing phase, it processed over 46 million transactions from 5.5 million individual wallets. ConsenSys made notable enhancements to Linea, resulting in improved performance, reduced transaction costs, and an overall enhanced user experience. Transaction costs on Linea are 15 times cheaper compared to the Ethereum mainnet, and ConsenSys claims it offers quicker throughput as well.
ConsenSys has already started onboarding partners to the Linea network, with over 100 partners joining the alpha rollout that began on July 11. Users of Linea can utilize MetaMask, the Ethereum browser wallet from ConsenSys, to purchase, sell, and exchange tokens effortlessly. The Linea Ecosystem Investment Alliance (EIA), created by ConsenSys, has also attracted the participation of more than 30 venture capital companies.
Joseph Lubin, the founder and CEO of ConsenSys, recognizes the proliferation of layer 2 Ethereum scaling protocols and solutions as a significant catalyst for the development of Web3 apps and features. Linea’s attributes, including fast throughput, low latency, and affordable gas prices, make it an ideal choice for decentralized apps, blockchain-based games, and social networks.
Conclusion
ConsenSys’ Linea is an EVM-compatible layer-2 scaling network for Ethereum that offers quicker throughput and significantly cheaper transaction costs. Through alpha rollouts and partnerships, Linea aims to revolutionize the Ethereum ecosystem by attracting decentralized finance (DeFi) apps and providing a seamless user experience. With its enhanced performance and secure infrastructure inherited from Ethereum’s mainnet, Linea is poised to become a game-changer in the world of dApps and blockchain technology.