Polkadot (DOT)-based parachain Phala Network (PHA) has launched a new Layer 2 rollup on Ethereum. For this, Polkadot partnered with zero-knowledge (ZK) proof startup Succinct and blockchain rollup infrastructure provider Conduit. The rollup stands out for its integration of OP Succinct, a ZK-based rollup solution. This enables the rollup to maintain security while significantly boosting transaction throughput and scalability on Ethereum. "We believe that this rollup, powered by our trusted execution environment and Succinct's ZK technology, will unlock new possibilities for decentralized applications and smart contracts on Ethereum," said Phala co-founder Marvin Tong. This launch marks a significant milestone in the development of Layer 2 scaling solutions on Ethereum. It is expected to enhance the network's performance, enabling it to handle more transactions at lower costs.

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