ConsenSys is a blockchain development company. Since 2022, the company has been competing with Polygon, zkSync, Starknet and Scroll to develop a new layer 2 solution. It is a network based on zkEVM or zero-knowledge EVM technology. After several months of research and development, ConsenSys seems ready to launch its zero-knowledge network, ZK-Rollup.
The characteristics of the new network based on zkEVM technology
So far, the zkEVM technology has remained in the testing phase. Still, analysts believe this is the next big step in building Layer 2 solutions. In this context, ConsenSys decided to develop a zero-knowledge network compatible with the Ethereum blockchain. The blockchain development company recently announced that it will launch the new network’s testnet on March 28. Previously, the ZK-Rollup network successfully completed its private beta phase.
It appears that ZK-Rollup performs off-chain calculations on a secondary layer, while guaranteeing the security of Ethereum. This allows him process transactions faster and at lower fees. ConsenSys has revealed that the network was able to process more than 490,000 transactions during its private beta phase. The transactions in question came from different decentralized applications.
The icing on the ConsenSys cake
In addition, thanks to its link with Ethereum Virtual Machine, ZK-Rollup can easily migrate existing dApps to it. ConsenSys has indicated that developers will be able to embed applications based on Ethereum to use them on the new network. Also, this operation will be done without making significant changes to the applications.
The new network development team said:Our zkEVM is the culmination of years of research by ConsenSys R&D and offers fast finality, high throughput, and Ethereum settlement security“. She pointed out that ZK-Rollup will be added to different popular Ethereum tools. Among them, the RPC Infura service and the MetaMask wallet stand out.
Polygon has scheduled a launch ahead of ConsenSys. Indeed, the blockchain company plans to publish its zkEVM on the Ethereum mainnet on March 27. It is therefore only the next day that we will be able to witness the launch of the ConsenSys testnet. At the same time, the company zkSync will launch its zkEVM solution on Ethereum in the coming months. She launched the latter in October, restricting it to internal use.
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