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.

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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

📍 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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