ConsenSys Introduces Linea Network for Ethereum Scalability, Onboards Partners
ConsenSys has launched the Linea network, a layer-2 scaling solution for Ethereum, and has begun onboarding partners to utilize its capabilities. Linea operates as an Ethereum layer-2 scaling network, utilizing zero-knowledge proofs and offering compatibility with the Ethereum Virtual Machine (EVM). During its extensive testnet phase, Linea achieved significant scaling milestones, with over 5.5 million unique wallets conducting more than 46 million transactions. Notable improvements in performance, transaction costs, and user experience were observed throughout testing.
The alpha release of Linea commenced on July 11, with over 100 partners already participating. ConsenSys highlights Linea’s faster throughput and transaction fees that are 15 times lower compared to Ethereum’s mainnet. Linea also integrates with ConsenSys’ popular Ethereum browser wallet, MetaMask, providing Linea users with access to token bridging, swapping, and purchasing functionalities.
ConsenSys CEO Joseph Lubin emphasizes the significance of layer-2 Ethereum scaling solutions in driving the development of Web3 applications and enhancing scalability and usability. Decentralized finance (DeFi) applications are expected to migrate to Linea to benefit from its fast finality, capital-efficient bridging, and inherited security from Ethereum’s mainnet. Linea’s high throughput, low latency, and lower gas fees also make it suitable for non-fungible tokens (NFTs), blockchain gaming, and social applications.
ConsenSys has also launched the Linea Ecosystem Investment Alliance (EIA), with over 30 venture capital firms providing capital and advisory support to ecosystem builders. Safeguards have been implemented to protect users, DApps, and the network itself during the alpha mainnet launch, including allowing only launch partners to execute calls to the network during the initial week. Linea is set to open up further during ETHCC in France from July 17, with some withdrawal limits potentially in place for the first 90 days. A bug bounty program will be conducted, and system performance will be closely monitored before opening Linea to end users.
Layer-2 solutions have been a prominent topic in the Ethereum ecosystem in 2023, with Polygon launching its zkEVM network earlier in the year. Starknet, led by zk-proofs pioneer Eli Ben-Sasson, has focused on increasing network throughput.