The Near Foundation and Eigen Labs are teaming up to make Ethereum rollups more efficient and reduce transaction costs.
The Near Foundation and Eigen Labs have announced a partnership that will significantly enhance the functionality and efficiency of Ethereum rollups. The Near Foundation, known for developing the Near Protocol, and Eigen Labs, creator of the rehypothecation protocol Eigen Layer, are joining forces to address some of the current challenges in the Ethereum (ETH) ecosystem.
The core goal of this collaboration is to reduce the cost of Ethereum rollups and increase transaction speeds. According to the official statement, the collaboration will achieve transaction times of three to four seconds, which is a significant improvement over the current standard.
Additionally, the initiative aims to facilitate low-latency communication across Rollups, thereby reducing liquidity fragmentation between different Layer 2 solutions.
A key aspect of this collaboration is focused on enhancing the Near-Ethereum Rainbow Bridge, a trustless, permissionless, and decentralized bridge that allows users to transfer assets and data between Ethereum and NEAR by converting it into an actively validated service.
The upgrade promises faster transaction finalization, enhanced security, and improved decentralization, creating a more seamless bridging experience between Nearchain and the Ethereum blockchain.
From Eigen Labs’ perspective, this collaboration is an opportunity to demonstrate the utility of re-staking in cross-aggregation transactions, highlighting its adoption not only within the Ethereum ecosystem, but also its potential to expand beyond other ecosystems. This collaboration is also in line with Near’s ongoing goal of making the open web more accessible and efficient.
The Eigen Layer allows for re-collateralization of ETH and adjustments within the consensus layer without the need for a new blockchain. #Near #ETH