Tuesday, July 11, 2023

"ConsenSys Introduces Linea: A Zero-Knowledge Rollup Network Bringing Cheaper and Faster Transactions to Ethereum Mainnet"



ConsenSys, the developer behind MetaMask, is bringing its ZK-rollup network called Linea to the main Ethereum network. Linea utilizes zero-knowledge (ZK) cryptography to provide faster and more cost-effective blockchain transactions, with gas prices expected to be 15 times lower than Ethereum. 

Unlike some competitors, ConsenSys aims to make Linea bytecode-compatible with the Ethereum Virtual Machine (EVM), making it easier for existing Ethereum applications to transition. Linea's alpha network will be available for app developers on Friday, followed by public access next week. 

ConsenSys sees rollup networks like Linea as essential for expanding Ethereum's accessibility due to their ability to offer cheaper and faster transactions. The launch of Linea marks the increasing popularity of zkEVM projects within the Ethereum ecosystem. 

ConsenSys has no immediate plans to introduce a Linea token but remains committed to Ethereum and aims to increase the network's user base by moving activities to layer 2. Linea's developers believe that ZK rollups will eventually outperform optimistic rollups in terms of speed, cost, and security. 

ConsenSys has already seen over 5 million unique wallets transact on Linea's test network since its launch in March. While a token for Linea is not ruled out, the focus for now is on building rather than quick financial gain. Linea's release follows the launch of zkSync and Polygon, the first two zkEVM networks on Ethereum's mainnet, and Linea plans to become fully open-source in the future.

 Initially, there will be some centralization to safeguard users, with ConsenSys being the only entity allowed to submit zero-knowledge proofs to Linea's smart contracts. This cautious approach aligns with the incremental steps taken by other layer 2 teams towards full decentralization.

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