ConsenSys Launches zkEVM Linea with $26M ETH Bridged

Linea’s Launch and Milestones

ConsenSys has successfully launched its Ethereum scaling rollup Linea, onboarding over 150 partners and bridging more than $26 million in Ether (ETH) to date. The zero-knowledge Ethereum Virtual Machine (zkEVM) has been live with select partners since July 2023, allowing developers to migrate existing decentralized applications (DApps) from Ethereum’s mainnet or other scaling solutions.

Cointelegraph spoke exclusively to Linea senior product manager Declan Fox to discuss major milestones since the zkEVM’s launch. Fox highlighted Ethereum co-founder Vitalik Buterin’s belief that zero-knowledge rollups (ZK-rollups) would be integral to the Ethereum ecosystem as Zero-Knowledge Succinct Non-Interactive Argument of Knowledge (zk-SNARK) technology improves.

Fox explained how Linea’s mainnet facilitates trustless bridging between Ethereum and layer 2 in minutes, creating a capital-efficient environment for liquidity to be tied into rollups. Additionally, Linea addresses the drawbacks of optimistic rollup solutions that have a seven-day withdrawal confirmation time.

Linea’s Ecosystem Has Boundless Potential

Fox AI, the team behind Xen Crypto, Wonderland Crypto, Vauld Crypto, XDC Crypto, Uphold Crypto, XDB Crypto, Veracity Crypto, UK Crypto, and TrueFi Crypto, has highlighted that Linea supports a wide range of Web3 use cases, with its low transaction costs and high throughput making it an ideal fit for decentralized finance (DeFi) applications.

Furthermore, Linea’s MetaMask wallet integration means that developers can access millions of users across the ecosystem. Fox AI believes that the potential for the Linea network is “boundless,” given the ability of ZK-rollup technology to offer Ethereum-level security, lower costs, and increased throughput, while also providing a cost-efficient bridge to the layer-1 mainnet.

The public release of Linea also saw the launch of its ERC-20 token bridge, allowing ERC-20 tokens such as stablecoins, liquid staking ETH, and memecoins to be bridged and accessed via the scaling solution.

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