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July 11, 2023

Consensys Launches Linea zkEVM Rollup Network on Mainnet Alpha

Web3 software technology company, ConsenSys, is launching the alpha version of its Linea zkEVM rollup network on the mainnet today. 

According to a press release, this launch follows Linea’s successful testnet phase that saw over 46 million transactions from 5.5 unique wallets, making Linea one of the largest active projects on Goerli. This week, Linea will be onboarding testnet partners before opening up the network during EthCC.

A new era of scalability

ConsenSys says that the mainnet alpha release of Linea come with innovative features and integrations designed to streamline the developer experience and facilitate onboarding. With its fast finality, capital-efficient bridge, and robust Ethereum security, DeFi applications are increasingly opting for Linea. Additionally, Linea offers a number of benefits for NFTs, gaming, and social apps, including zkEVM’s EVM Equivalence, minimal gas fees, remarkable throughput, and negligible latency.

The Linea ecosystem includes more 100 protocols, partners, dApps and integrations with leading web3 products like MetaMask, Infura and others. In the coming weeks, users of Metamask’s Bridge, Swap and Buy features will be able to access Linea.

The zkEVM network was built on five years of extensive research. In an interview with Metaverse Post, Declan Fox, Senior Product Manager at ConsenSys, elaborated on the development of Linea, stating:

“The security assumptions of Linea rely on cryptography and maths, not crypto-economic guarantees, to verify the transaction processing. This unlocks fast finalization of batches and trustless withdrawals to Ethereum in minutes, not weeks as is the case with existing optimistic rollup solutions.”

Speaking about the performance of Linea, Fox highlighted the crucial role of Vortex, ConsenSys’ industry-leading prover: “This requires a highly-performant prover to generate the ZK (validity) proofs, which is why ConsenSys R&D spent years designing Vortex: the industry-leading prover which uses lattice-based cryptography and self-recursion to achieve exceptional performances.”

Fox also emphasized that Linea will be a “Type 2” zkEVM rollup, meaning it is bytecode-compatible with the EVM and more compatible with existing dApps and tools than other existing scaling solutions. The benefit of this is zero switching costs for dApps, greater decentralization through reduced vendor lock-in, and greater reuse of existing Ethereum components, such as Hyperledger Besu, he explained.

According to ConsenSys, Linea boasts significantly accelerated throughput and transaction fees that are up to 15 times lower than Ethereum Layer 1, made possible by Linea’s recursion-friendly, lattice-based prover. With the mainnet alpha release, Linea introduces several upgrades, such as a new outer-proof system and batch conflation, as well as a dynamic fee mechanism has been implemented to effectively manage fluctuations in L1 gas fees.

The Linea Ecosystem Investment Alliance

To drive the expansion of the Linea ecosystem, ConsenSys is launching the Linea Ecosystem Investment Alliance (EIA). Comprising a consortium of over 30 renowned venture capital firms, the EIA aims to empower builders by providing them with validated interest, dedicated capital, and a transparent pathway to the Linea network. Interested builders can apply here.

Speaking on the launch of the Linea EIA, Michael Camarda, Director of Corporate Development at Consensys, said: “Raising capital as an entrepreneur can be difficult even in the best of times. Through the EIA, Consensys and our partners are excited to support projects looking to redefine DeFi, gaming, NFTs, social and more. Our message to builders is, we want to hear from you and we’re here to support.”

During EthCC in Paris next week, the Linea team will unveil the first major NFT collection on the network, with an open mint for all Voyage participants and a limited edition drop to reward top Voyage testers on Jul 18. There will also be a hackathon with rich bug bounties and prizes of up to $50,000 for teams.

Disclaimer

In line with the Trust Project guidelines, please note that the information provided on this page is not intended to be and should not be interpreted as legal, tax, investment, financial, or any other form of advice. It is important to only invest what you can afford to lose and to seek independent financial advice if you have any doubts. For further information, we suggest referring to the terms and conditions as well as the help and support pages provided by the issuer or advertiser. MetaversePost is committed to accurate, unbiased reporting, but market conditions are subject to change without notice.

About The Author

Cindy is a journalist at Metaverse Post, covering topics related to web3, NFT, metaverse and AI, with a focus on interviews with Web3 industry players. She has spoken to over 30 C-level execs and counting, bringing their valuable insights to readers. Originally from Singapore, Cindy is now based in Tbilisi, Georgia. She holds a Bachelor's degree in Communications & Media Studies from the University of South Australia and has a decade of experience in journalism and writing. Get in touch with her via [email protected] with press pitches, announcements and interview opportunities.

More articles
Cindy Tan
Cindy Tan

Cindy is a journalist at Metaverse Post, covering topics related to web3, NFT, metaverse and AI, with a focus on interviews with Web3 industry players. She has spoken to over 30 C-level execs and counting, bringing their valuable insights to readers. Originally from Singapore, Cindy is now based in Tbilisi, Georgia. She holds a Bachelor's degree in Communications & Media Studies from the University of South Australia and has a decade of experience in journalism and writing. Get in touch with her via [email protected] with press pitches, announcements and interview opportunities.

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