CryptoMediaClub
Friday, August 1, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home Ethereum

$26M ETH bridged: ConsenSys completes public launch of zkEVM Linea

16.08.2023
A A
0
126
VIEWS
ShareShare

ConsenSys has completed the launch of its Ethereum scaling rollup Linea, onboarding over 150 partners and bridging more than $26 million in Ether (ETH) to date.

Linea went live with select partners onboarded to the alpha mainnet in July 2023, allowing developers to migrate existing decentralized applications (DApps) from Ethereum’s mainnet or other scaling solutions. The zero-knowledge Ethereum Virtual Machine (zkEVM) is a layer-2 scaling solution that provides lower transaction costs and higher throughput for DApps running in the Ethereum ecosystem.

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

“Bytecode-compatible zkEVMs, like Linea, provide stronger security guarantees than existing scaling solutions and maintain the full network effects of the EVM — the most adopted smart contract execution environment.”

According to Fox, 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. Linea also addresses the disadvantages of optimistic rollup solutions that have a seven-day withdrawal confirmation time.

“Much like how countries without foreign exchange control in the financial markets are more competitive, zkEVM solutions will soon outperform optimistic solutions in terms of user and liquidity acquisition.”

Fox added that Linea supports a variety of Web3 use cases, while its low transaction costs and high throughput makes it particularly useful for decentralized finance (DeFi) applications.

“Linea is seamless for existing DeFi protocols and DApp developers to build composable money legos that work together to create innovative user experiences.”

Linea also features default integration with ConsenSys’ browser-based MetaMask wallet, allowing DApps on the network to access millions of users across the ecosystem.

Fox also noted that the potential for the Linea ecosystem is “boundless,” reflecting on the capabilities of ZK-rollup technology to provide lower costs, higher throughput and Ethereum-based security while providing a capital-efficient bridge to the layer-1 mainnet.

The public release also saw Linea’s ERC-20 token bridge go live, allowing ERC-20 tokens — like stablecoins, liquid staking ETH and memecoins — to be bridged and accessible through the scaling solution.

Collect this article as an NFT to preserve this moment in history and show your support for independent journalism in the crypto space.

Magazine: Here’s how Ethereum’s ZK-rollups can become interoperable

Share10Tweet6ShareSharePin2

Related Posts

ProShares announces launch of short Ether-linked ETF
Ethereum

ProShares announces launch of short Ether-linked ETF

02.11.2023
0

ProShares, a major issuer of exchange-traded funds (ETF), announced the launch of the short Ether-linked ETF on Nov. 2.ProShares’s new...

Read moreDetails
Slumdog billionaire 2: ‘Top 10… brings no satisfaction’ says Polygon’s Sandeep Nailwal

Slumdog billionaire 2: ‘Top 10… brings no satisfaction’ says Polygon’s Sandeep Nailwal

02.11.2023
Top Swiss bank launches Bitcoin and Ether trading with SEBA

Top Swiss bank launches Bitcoin and Ether trading with SEBA

02.11.2023
Elon Musk slams NFTs but ends up arguing the case for Bitcoin Ordinals

Elon Musk slams NFTs but ends up arguing the case for Bitcoin Ordinals

02.11.2023
3 reasons why Ethereum price is down against Bitcoin

3 reasons why Ethereum price is down against Bitcoin

02.11.2023
Load More
Next Post
Coinbase wins NFA approval to offer Bitcoin and Ether futures in US

Coinbase wins NFA approval to offer Bitcoin and Ether futures in US

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

Singapore’s Financial Regulator Mandates Trusts for Crypto Exchanges

Singapore’s Financial Regulator Mandates Trusts for Crypto Exchanges

2 years ago
Hong Kong court rules cryptocurrencies as property

Hong Kong court rules cryptocurrencies as property

2 years ago

QuickNode Now Available in AWS Marketplace

2 years ago
Bitcoin Price Prediction as Billionaire Michael Saylor Plans to Raise $600M to Buy More Bitcoin – Here’s the Latest

Bitcoin Price Prediction as Billionaire Michael Saylor Plans to Raise $600M to Buy More Bitcoin – Here’s the Latest

1 year ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

23% of CFOs in North America Ready to Implement Crypto

Coinbase Accuses FDIC of Hiding Operation Chokepoint 2.0 Files 

Altcoins lead crash as $751M liquidated in last 24 hours and Bitcoin falls to July low

Trump Tariffs Return — What Does It Mean for Bitcoin, Ether, XRP, Crypto?

Senator Warren Presses US Banking Regulator Over Trump Family’s Crypto Business Links

Ex-OpenSea Employee Cleared in First NFT Insider Trading Appeal — Here’s What Changed

Trending

Tourists in South Korea to Exchange USDT via Crypto ATMs
All news

Tourists in South Korea to Exchange USDT via Crypto ATMs

01.08.2025
0

Visitors to popular tourist spots in South Korea will be able to exchange the stablecoin USDT for...

BNB Holders Can Now Earn Daily Passive Income Through the Officially Launched BNB Payment Integration by Find Mining

BNB Holders Can Now Earn Daily Passive Income Through the Officially Launched BNB Payment Integration by Find Mining

01.08.2025
BlackRock’s BUIDL fund hit by $447M outflow after 18-month record breaking $2.8B inflow

BlackRock’s BUIDL fund hit by $447M outflow after 18-month record breaking $2.8B inflow

01.08.2025
23% of CFOs in North America Ready to Implement Crypto

23% of CFOs in North America Ready to Implement Crypto

01.08.2025
Coinbase Accuses FDIC of Hiding Operation Chokepoint 2.0 Files 

Coinbase Accuses FDIC of Hiding Operation Chokepoint 2.0 Files 

01.08.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz