ConsenSys has recently completed the launch of its zkEVM Linea and has onboarded more than 1500 partners. At the same time, a sum exceeding the $26 million mark in Ether tokens has also been bridged till now.
Linea went live with its beta mainnet along with selective partners in July this year, and this made it possible for developers to migrate existing dApps from Ethereum’s mainnet or other scaling solutions. The zkEVM is a layer 2 scaling solution that provides lower transaction costs along with higher throughput for all dApps running on the Ethereum ecosystem.
The senior product manager, Declan Fox, highlighted the co-founder of Ethereum’s belief that zk-rollups would establish themselves as a crucial factor in the wider operation of the Ethereum ecosystem as zk-SNARK technology improves.
It is currently believed that bytecode-compatible zkEVMs like Linea set the stage for the provision of stronger security guarantees in comparison to other existing scaling solutions. These would also maintain the full network effects of the EVM, which is currently regarded as the most widely adopted smart contract execution environment.
Fox also continued to elaborate on how the mainnet of Linea facilitates the seamless bridging between Ethereum and layer 2 within a matter of a few minutes. As a result, this gives rise to the creation of a capital-efficient environment for liquidity to be tied into various rollups. The network has also addressed the disadvantages of optimistic rollup solutions that have a seven-day withdrawal confirmation time.
Linea Vows to Stay True to Expectations
The masses were clarified that Linea would easily support a wide variety of Web3 use cases and how its low transaction costs along with higher throughput make it ideal for DeFi applications.
Furthermore, Linea features default integration with ConsenSys’ browser-based MetaMask wallet which would allow dApps on the network to be accessed by millions of users across the ecosystem.
The public release of the ZKEVM Linea network also experienced ERC-20 token bridge going live. This would enable ERC-20 tokens like stablecoins, liquid staking ETH, as well as meme coins to be bridged via the scaling solution, also ensuring easy accessibility at the same time.