The zero-knowledge #Ethereum Virtual Machine (zkEVM) has been given the name "Linea" by the Ethereum software company ConsenSys, and it has been made available for public testing.

#ConsenSys established a private testnet for its #zkEVM in December, and more than 350,000 transactions have been completed since then. In a blog post, the developers behind Linea said that:

“Linea represents the next evolution of ConsenSys zkEVM, powering a new generation of dapps built on Ethereum.”

Moreover, ConsenSys tweeted that its well-known #MetaMask wallet and Truffle, its developer tools, will be fully integrated into Linea.

Many believe that zero-knowledge technology is the best way to scale blockchains since it lowers transaction costs and speeds up transactions.

A ZK rollup that works with the Ethereum Virtual Machine, the program that runs smart contracts, is known as a zkEVM. Developers may switch their apps over to Ethereum without experiencing any issues if there is a ZK rollup that is compatible with the EVM.

Recently, there has been a lot of activity in the Ethereum ecosystem's zero-knowledge area. Both Matter Labs and Polygon released their own zkEVMs, putting an end to the competition to make Ethereum-compatible ZK rollups available to consumers.

This news is republished from https://coinaquarium.io/

ConsenSys, the team behind the popular Metamask wallet, has announced the launch of its zkEVM testnet network, now called Linea, after a successful private testing phase. Linea is a Layer 2 (L2) solution built on zero-knowledge technology that is fully compatible with the Ethereum network, providing developers with a seamless experience in building decentralized applications (dapps).

The launch of Linea is expected to help Ethereum scale by providing a high-performance infrastructure to support the development of dapps. Linea is designed to empower Ethereum builders to innovate without worrying about the limitations of cost or scalability. By offering faster transaction speeds, reduced gas costs, and native integrations with popular tools like MetaMask and Truffle, ConsenSys has made it easy for developers to focus solely on innovation.

The zkEVM protocol ensures that developers can create scalable dapps or migrate existing ones without changing the code or rewriting smart contracts. Linea is also highly composable, offering flexibility and scalability to developers who are not experts in zero-knowledge technology.

@azcoinnews

During the private testing phase, Linea surpassed expectations, with over 1.5 million transactions completed in just a few weeks. ConsenSys is grateful for the contributions of its early partners and testers who helped shape and prepare Linea.

ConsenSys has always aimed to build Ethereum and make web3 universally useful and accessible. In line with this spirit, Linea is designed to provide a seamless developer experience on an L2 network. To encourage developers to build on Linea, the company has made it available as a default testnet option on the MetaMask extension.

The launch of Linea is a significant milestone for ConsenSys and the Ethereum ecosystem. As the community works towards scaling Ethereum and fulfilling the promise of Ethereum 2.0, Linea represents an important step towards achieving this goal. Developers who want to build innovative dapps on a high-performance infrastructure should check out Linea today.

#ConsenSys #Linea #zkEVM #Ethereum #azcoinnews

This article was republished from azcoinnews.com

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📍 What is Linea?

➡️ Linea is a zkRollup platform built and developed on Ethereum. The platform is sponsored by Consensys, a blockchain technology company that is involved in many important projects on Ethereum such as Metamask and Infura. Linea uses zkRollup technology to speed up and optimize transactions on Ethereum.

➡️ Linea also built its own zkEVM, which is an optimized version of the Ethereum Virtual Machine (EVM). zkEVM enhances the performance and reduces the cost of executing smart contracts on Linea. This platform provides many advanced features and scalability for transaction layering on Ethereum.

📍 Highlights of the project

➡️ Linea is a zkRollup platform built and developed by Consensys on Ethereum. Linea provides the zkRollup mechanism to enhance the performance and expand the capabilities of the Ethereum network. This platform helps to reduce the burden on resources and speed up transaction processing on Ethereum.

➡️ In addition, Linea also launched zkEVM, an optimized version of the Ethereum Virtual Machine (EVM). zkEVM makes it easy for developers to switch from Ethereum to Linea without investing too much effort, money and time. The platform focuses on optimizing smart contract execution and providing extensive features for applications built on Linea.

➡️ Linea focuses on building a comprehensive web3 platform, including DeFi, NFTs, Gaming, Payments and Infrastructure. This is achieved by combining puzzle pieces to form a powerful ecosystem on Linea.

➡️ Linea has a number of significant advantages over other zkRollup platforms. Here are the main advantages:

Compatibility: Linea built zkEVM, an optimized version of the Ethereum Virtual Machine (EVM), that simplifies the transition from Ethereum to Linea. This allows existing projects on Ethereum to easily scale and deploy on Linea without much code change.

Performance and Scalability: Thanks to zkRollup technology, Linea has the ability to increase transaction speed and reduce costs. The #zkRollup integration helps Linea to process a large number of transactions on a secondary blockchain, and at the same time only send the valid certificates of these transactions to the main blockchain, reducing the load on the Ethereum network.

Security and privacy: zkRollup uses zero-knowledge (zero-knowledge proof) technology to ensure privacy and security during transaction validation. Linea inherits this benefit, helping users and projects on the platform with high safety and security.

➡️ With these advantages, Linea is facilitating the development and provision of a diverse and powerful web3 platform for DeFi, NFTs, Gaming, Payments and Infrastructure.

📍Roadmap

December 2022: Project Linea launches Private Beta, reaches over 490k transactions and allows developers to test on Goerli network.

January 2023: Opened Private Testnet and reached more than 1 billion transactions immediately

March 2023 : The project changed its name from ConsenSys zkEVM to Linea and opened the Public Testnet for users in the experience market.

Q2/2023: The #Linea project is expected to launch its mainnet version this quarter.

📍 Project team

Linea is developed by the people of ConsenSys team (Metamask wallet parent company), in which:

Joseph Lubin: The man who founded ConsenSys in 2014.

Kavita Gupta: Executive in Residence at ConsenSys and director of ConsenSys Ventures.

📍 Investors & Partners

📍 Investors

➡️ ConsenSys has raised more than 727 million USD, specifically:

➡️ + In the Series C round: ConsenSys raised more than 200 million USD at a valuation of 3.2 billion USD from large funds such as Animoca Brands, Coinbase Ventures.

➡️ Series D: #ConsenSys raised $450 million, raising its valuation to $7 billion, backed by ParaFi Capital, #Microsoft , SoftBank and Temasek.

📍 Partner

Relatively good partners with names like UniSwap, Hop Protocol, Lens Protocol, Celer Bridge, Layer zero and now these projects have launched on Linea's ecosystem.

📍 Project comments

➡️ Currently, the project has not launched a token, so the price forecast is not very informative, but it can be seen through the funding rounds and the magnitude of the investors and partners, thereby showing us. there will be an explosive project in the upcoming Layer 2 #zkEVM array. Besides, it is also possible that the project will Airdrop for early users, so take advantage of the experience!

📍 Summary

➡️ Let's find out and evaluate to have the best investment opportunity in the near future. Wish you luck!!!

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ConsenSys, a leading company known for being behind the MetaMask cryptocurrency wallet, is strengthening Ethereum's Layer-2 ecosystem with a new participant. This week, ConsenSys announced a new Layer-2 network called Linea. Linea has been developed as an integrated solution to the Ethereum main blockchain and will include partners they will collaborate with in the near future.

Features and Advantages of Linea:

Linea is a Layer-2 scaling solution that utilizes zero-knowledge proofs (zkEVM) to address Ethereum's scalability issues. ConsenSys is the latest company to join the trend of utilizing zero-knowledge proofs. It is reported that Linea has successfully passed a testing phase and has become one of the largest projects on the rapidly growing Goerli testnet. By combining the power of zero-knowledge proofs with the Ethereum Virtual Machine (EVM) equation, Linea allows developers to build scalable decentralized applications (dApps) or migrate existing applications without the need to modify or rewrite them. #evm

The advantages offered by Linea include an increase in transaction capacity and a reduction of transaction fees by 15% compared to Ethereum Layer-1. Additionally, Linea is said to have the capability for deeper integrations with MetaMask. ConsenSys has announced that Linea will be available to users next week and their partners will begin integrating their dApps and infrastructure. #Ethereum

ZkEVM Technology:

ZkEVM is an EVM-compatible rollup secured by zero-knowledge proofs. This technology enhances the interaction between zero-knowledge proofs and smart contracts and decentralized applications (dApps) used on Ethereum while maintaining EVM compatibility. ConsenSys' Linea project aims to make the Ethereum ecosystem more scalable by utilizing this technology.

ConsenSys' Previous Work and Other Players in the Industry:

ConsenSys' Linea project demonstrates the active involvement of a well-known company in the Ethereum ecosystem in the Layer-2 space. Notably, examples of successful projects in this area include zkSync by Matter Labs, announced in March, and Polygon's zkEVM product, both of which have received significant attention.

In Summary:

ConsenSys' new Layer-2 network called Linea aims to provide scalability and low transaction fees to the Ethereum ecosystem. Developed using zero-knowledge proofs, Linea enables developers to create scalable decentralized applications (dApps) or migrate existing applications without the need for extensive modifications or rewrites. ConsenSys' Linea project stands out as an established player in the Ethereum Layer-2 space, continuing its efforts to bring more scalability to the Ethereum ecosystem. #layer-2 #ConsenSys #linea $ETH