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Linea zkEVM launched by ConsenSys to enhance Ethereum's scalability

Linea zkEVM launched by ConsenSys to enhance Ethereum’s scalability

ConsenSys has introduced Linea, a layer-2 scaling network for Ethereum that offers faster throughput and significantly lower transaction costs compared to Ethereum’s layer 1. Linea operates using zero-knowledge proofs and is compatible with the Ethereum Virtual Machine (EVM), allowing seamless interaction with the Ethereum blockchain. During its testnet period, Linea processed over 46 million transactions from 5.5 million unique wallets. The alpha release of Linea began on July 11, with more than 100 partners onboarded. The network integrates with ConsenSys’ Ethereum browser wallet MetaMask, providing users with access to token bridge, swap, and buy functionalities. ConsenSys CEO Joseph Lubin emphasized the importance of layer 2 scaling protocols in advancing scalability and usability in Web3 applications. DeFi applications are migrating to Linea to leverage its fast finality, capital efficiency, and security features. ConsenSys also launched the Linea Ecosystem Investment Alliance, with over 30 venture capital firms providing capital and advisory assistance. Safeguards will be implemented during the alpha mainnet launch, with full opening to end users planned after bug bounties and system performance monitoring. Other layer 2 solutions, such as Polygon’s zkEVM network and Starknet, have also made strides in increasing scalability.