Markets News Report
October 11, 2023

Scroll Signals Mainnet Launch, Aims for Ethereum’s Scalability

In Brief

Scroll officially announced the launch of its mainnet, marking a significant milestone in its development journey.

Scroll has catapulted itself into the limelight by announcing its much-anticipated mainnet, signaling an era of amplified efficiency and scalability for the Ethereum network.

The newly launched Scroll mainnet aims to emerge as an advanced EVM zkRollup, designed explicitly to augment the Ethereum network’s performance. Its mission is straightforward: equip users with instantaneous, cost-friendly transactions while ensuring thorough decentralization and unmatched privacy.

For the tech-savvy, eager to jump on board, a dedicated bridge and an explorer are already live. Additionally, one can now easily add Scroll to their MetaMask, enhancing their crypto operations.

Investors Show Faith in Scroll’s Potential

Scroll’s compelling vision has garnered a whopping $30 million investment, with high-profile backers such as Polychain Capital, Bain Capital Crypto and Geometry DAO. Not to mention, influential names from the Ethereum community, including Anthony Sassal, Ryan Adams and Santiago Santos, have also shown their support. With recent funding from industry giants like Qiming Venture Partners, Scroll’s valuation hovers impressively around $1.8 billion.

DeFi titan, Aave v3, sensing Scroll’s potential, has proposed deploying its v3 Minimum Viable Product on the Scroll mainnet. Should the DAO give its nod, come August 2023, Aave v3 could be among the pioneering DeFi dApps gracing Scroll’s mainnet. This move symbolizes a strategic alliance that positions Aave v3 to harness Scroll’s state-of-the-art capabilities.

Scroll’s Unique Selling Point: Ethereum’s Extension

Scroll isn’t just another blockchain; it’s an extension of Ethereum, offering native compatibility with its tools and applications. By leveraging zero-knowledge technology and achieving EVM equivalence, Scroll acts as a second-layer (L2) blockchain, masterfully crafted by Ethereum developers for their community.

Making Ethereum’s scaling accessible, retaining its core ethos of being secure, open-source, and trust-minimized. As with any unfolding narrative, Scroll’s journey will see adaptations, but its commitment to Ethereum’s future remains steadfast.

The crypto and blockchain landscape continually evolves, with innovations like Scroll cementing Ethereum’s position as a dominant force. As Scroll steers Ethereum towards a more scalable future, industry watchers await the transformative impact this mainnet will have on decentralized applications and transactions.

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

Nik is an accomplished analyst and writer at Metaverse Post, specializing in delivering cutting-edge insights into the fast-paced world of technology, with a particular emphasis on AI/ML, XR, VR, on-chain analytics, and blockchain development. His articles engage and inform a diverse audience, helping them stay ahead of the technological curve. Possessing a Master's degree in Economics and Management, Nik has a solid grasp of the nuances of the business world and its intersection with emergent technologies.

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Nik Asti
Nik Asti

Nik is an accomplished analyst and writer at Metaverse Post, specializing in delivering cutting-edge insights into the fast-paced world of technology, with a particular emphasis on AI/ML, XR, VR, on-chain analytics, and blockchain development. His articles engage and inform a diverse audience, helping them stay ahead of the technological curve. Possessing a Master's degree in Economics and Management, Nik has a solid grasp of the nuances of the business world and its intersection with emergent technologies.

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