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ConsenSys is set to deploy Linea, its ZK-rollup network, on the Ethereum mainnet.
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Linea uses zero-knowledge (ZK) cryptography to provide cheaper and faster blockchain transactions; ConsenSys claims that fee rates, known as gas prices, will be 15 times lower on Linea than on Ethereum.
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ConsenSys says it currently has no plans for a Linea token.
ConsenSys, the research and development company behind the popular Metamask crypto wallet, plans to deploy its layer 2 network, Linea, to the Ethereum mainnet this week.
The so-called rollup network is known as zkEVM, meaning it leverages zero-knowledge cryptography (ZK) – one of this year’s hottest blockchain trends – and is compatible with The Ethereum Virtual Machine (EVM) programming environment, so existing Ethereum applications based on these technologies can be ported without significant additional work. Rollups are considered a critical part of the Ethereum blockchain roadmap, as they provide users with cheaper and faster transactions compared to the often congested parent network.
Application developers will be able to deploy their projects on Linea’s “alpha” network on Friday, and the general public will have access to them starting next week.
With the mainnet alpha launch, Linea joins a series of recent zkEVM projects aimed at expanding accessibility to Ethereum, the second largest blockchain by transaction volume. Cumulative networks like Linea are expected to eventually become the primary method by which users access Ethereum, considered impractical for many users and use cases due to its high fees.
“As gas prices on layer 2 are 15 times lower than on layer 1, many use cases become possible,” Nicolas Liochon, global product manager for Linea, told CoinDesk.
ConsenSys is led by Ethereum co-founder Joe Lubin and is building some of the ecosystem’s core infrastructure, including MetaMask and Infura.
Stressing that ConsenSys remains “dedicated to Ethereum,” Liochon said that “by moving activities to layer 2, we are fundamentally able to increase, by several orders of magnitude, the number of people who will be able to use the network” .
The first Ethereum rollups to come to market, Optimism and Arbitrum, were so-called “optimistic” rollups – based on a slightly different technology that has the disadvantage of long settlement times.
New ZK rollups like Linea work the same way – grouping together large groups of transactions and “settling” them en masse on Ethereum’s ledger – but their developers are betting that ZK crypto will ultimately make them faster, cheaper and safer than optimistic alternatives.
Unlike some of its zkEVM competitors, ConsenSys has chosen to make its network bytecode compatible with EVM – a technical nuance that could theoretically make Linea easier to use with existing Ethereum development tools.
Many existing Layer 2 networks, like Arbitrum and Optimism, have “airdropped” tokens to early adopters after launching on the Ethereum mainnet. Tokens could be sold for a quick profit or used as votes to help manage protocol updates; Dangling the prospect of an airdrop is seen as a way to encourage users to try new networks.
ConsenSys could potentially launch a token for Linea for a long time. While Liochon doesn’t rule out the possibility of a Linea token, he said that if it ever arrives, it won’t be for some time.
“What do we want to do? Do we want to get rich quick or do we want to build something? Liochion asked. “Yeah, basically, I think we should build things.”
The cumulative landscape of Ethereum
Linea’s launch comes after zkSync and Polygon, the first two zkEVM networks to launch on Ethereum mainnet, released software development kits (SDKs) allowing coders to clone their code to create their own cumulative networks .
ConsenSys says Linea will become fully open source in the coming weeks, meaning developers will be able to freely use its code (although ConsenSys has no current plans to release an SDK).
Zero-knowledge accumulation technology is new and continues to advance. As Linea enters its alpha launch, it will still have some points of centralization in its system – which Liochon calls “training wheels” – to protect users from unforeseen bugs and other hiccups.
For now, ConsenSys will still be the only party allowed to submit zero-knowledge proofs to Linea smart contracts on Ethereum. In simple terms, this means that the company will act as a sort of transaction traffic agent for the time being – directing transactions and packaging them into the packets it sends to Ethereum.
“If you’re fully decentralized, the idea is that anyone can submit evidence,” Liochon said. “But you have to be 100% sure that there are no problems in your proof system. We’re not there yet.
Edited by Bradley Keoun.
https://www.coindesk.com/tech/2023/07/11/metamask-developer-consensys-brings-layer-2-blockchain-linea-to-ethereum-mainnet/?utm_medium=referral&utm_source=rss&utm_campaign=headlines