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ConsenSys has successfully launched its Ethereum scaling rollup, Linea, bringing on board over 150 partners and facilitating the transfer of more than $26 million in Ether (ETH) thus far.
Linea became operational with a select group of partners on the alpha mainnet in July 2023, enabling developers to transition existing decentralized applications (DApps) from Ethereum’s mainnet or other scaling solutions. The zero-knowledge Ethereum Virtual Machine (zkEVM) serves as a layer-2 scaling solution that offers reduced transaction fees and increased throughput for DApps within the Ethereum ecosystem.
Cointelegraph had an exclusive conversation with Linea senior product manager Declan Fox to discuss significant achievements since the launch of the zkEVM. Fox emphasized Ethereum co-founder Vitalik Buterin’s view that zero-knowledge rollups (ZK-rollups) will be essential for the functioning of the broader Ethereum ecosystem as the Zero-Knowledge Succinct Non-Interactive Argument of Knowledge (zk-SNARK) technology advances.
“Bytecode-compatible zkEVMs, such as Linea, deliver enhanced security assurances compared to current scaling solutions and preserve the complete network effects of the EVM — the most widely utilized smart contract execution environment.”
According to Fox, Linea’s mainnet enables trustless bridging between Ethereum and layer 2 in a matter of minutes, fostering a capital-efficient setting for liquidity to be integrated into rollups. Linea also mitigates the drawbacks of optimistic rollup solutions, which require a seven-day withdrawal confirmation period.
“Similar to how nations without foreign exchange controls in financial markets are more competitive, zkEVM solutions will soon surpass optimistic solutions in terms of user and liquidity acquisition.”
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Fox further mentioned that Linea accommodates a range of Web3 applications, while its low transaction fees and high throughput make it especially advantageous for decentralized finance (DeFi) applications.
“Linea is designed to be seamless for existing DeFi protocols and DApp developers to construct composable money legos that collaborate to deliver innovative user experiences.”
Linea also includes default integration with ConsenSys’ browser-based MetaMask wallet, enabling DApps on the network to reach millions of users throughout the ecosystem.
Fox also remarked that the potential of the Linea ecosystem is “boundless,” highlighting the capabilities of ZK-rollup technology to offer lower costs, greater throughput, and Ethereum-based security while providing a capital-efficient connection to the layer-1 mainnet.
The public launch also marked the activation of Linea’s ERC-20 token bridge, allowing ERC-20 tokens — including stablecoins, liquid staking ETH, and memecoins — to be bridged and made accessible through the scaling solution.
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Magazine: Here’s how Ethereum’s ZK-rollups can become interoperable
