Introducing Linea: ConsenSys’ Game-Changing Layer 2 Solution revolutionizes blockchain scalability and efficiency. Explore the future of decentralized applications with this innovative advancement.
The Ethereum platform has recently incorporated an additional layer-2 scaling solution, with ConsenSys initiating the integration of partners onto its Linea network. This network has demonstrated noteworthy scaling achievements during its testing phase.
Linea is launched by a variety of innovative features and integrations, which is designed specifically to lessen the complexities for developers. This article aims to walk readers through the steps necessary to put themselves in a position to benefit from a potential token airdrop from Linea. We’ll delve into the insights of Linea, a layer 2 scaling solution, its functions, history, future potentials, and all the vital factors revolving around it.
What is Linea?
Linea, also known as ConsenSys zkEVM, is a Layer 2 zero-knowledge Ethereum Virtual Machine (zkEVM) made by ConsenSys, the company that made MetaMask. Linea is a rollup that is made to look like Ethereum. This lets developers use the same tools and have similar experiences as on the Ethereum mainnet. This gives both the protection of Ethereum and lower transaction fees.
Financially, Linea has gathered a lot of attention. It has raised about $726 million through different funding rounds, bringing its value to an amazing $7 billion. ZkSync has raised $458 million, which shows how well Linea is doing in the market.
How Does Linea Work?
Linea employs a lattice-powered prover, based on zkSNARK technology, which swiftly produces proofs without necessitating a trusted setup—a feature not inherent to zkSNARK. By implementing multiple solutions, transactions on the Ethereum mainnet are rendered 15x to 20x more cost-effective.
Additionally, Linea positions itself as a sophisticated platform catering to developers’ tooling and infrastructure needs. It is compatible with platforms such as Truffle, ConsenSys, Infura, and MetaMask, facilitating development even for those unfamiliar with zkEVM or zk-rollup.
Linea is among the various zero-knowledge (zk) rollups present in the market, signifying that employing zero-knowledge proofs is not an exclusive attribute. What distinctly characterizes Linea is its status as a fully EVM-equivalent zero-knowledge layer 2 network.
Linea’s Distinctive Architecture and Capabilities
Linea stands out from other Layer 2 programs because of its unique style and robust capabilities. Beyond the standard advantages typically associated with layer 2 networks—reduced gas fees, enhanced capacity, and scalability. Linea’s complete EVM equivalence ensures that developers can employ identical tools and infrastructure as they would on Ethereum. This compatibility not only simplifies the interface with Linea but also streamlines the transition of dapps from one blockchain to another.
Additionally, Linea boasts native integrations with prevalent tools, expediting the process through which developers present dapps to users. MetaMask facilitates user integration, Infura delivers robustness and scalability, and renowned tools such as Truffle are seamlessly compatible with the network.
Outline of ConsenSys History
Joseph Lubin, co-founder of Ethereum launched the ConsenSys in 2014. The main motivation of the founder was to improve the structure and the layers of DApps available on Ethereum. Moreover, Joseph had made the strong footings in crypto space by creating the leading projects like Infura and MetaMask.
ConsenSys introduced Linea as part of its ongoing dedication to innovation. This initiative of launching Linea was the start of something big coming in future. After the public testnet for Linea went live, the company started the “Linea Voyage” campaign, a 9-week program to help newcomers learn about its environment. During this time, the main focus was making different tools and apps, such as on-chain data, social apps, DeFi, NFTs, and more.
Over 5.5 million wallet users made over 47 million transactions during this campaign, which was a big deal. ConsenSys will present an NFT at the upcoming EthCC Paris event in response to the success of the Linea Voyage. This is especially important because this will be the first NFT collection on the Linea mainnet.
What’s next for Linea?
Consensys Linea has planned a community engagement to share its roadmap and invite developers and users to try out Linea and related dApps through a virtual exploration that includes different jobs.
Linea has worked with several protocols, such as the decentralized exchange Uniswap and the decentralized social media organization Lens Protocol. You can look at a complete list of all of their relationships.
Covalent, a well-known Web 3 data service provider, and Connext, a protocol focusing on secure interoperability, stand out among two new partnerships. Covalent is collaborating with Consensys Linea Goerli testnet to provide valuable insights on Linea Goerli trends to its community of Web3 study analysts and developers.
Also, how Connext and Linea work together has led to the creation a new decentralized app called Portfolio on MetaMask. Thanks to this new technology, users can soon do cross-chain swaps directly from their wallets or through the MetaMask browser app.
Consensys’s Team Overview
Linea is a product developed under the aegis of ConsenSys, and consequently, the esteemed team behind ConsenSys is responsible for its development. Key members include:
- Joseph Lubin (Founder and CEO) established ConsenSys in 2014 and has been instrumental in its growth and direction.
- Andrew Keys: A co-founder of ConsenSys, he currently holds the position of Managing Partner at ConsenSys Capital.
- Kavita Gupta: Holding the title of Executive in Residence at ConsenSys, Ms. Gupta also serves as the director of ConsenSys Ventures.
You should have a good enough grasp of the project’s fundamentals after reading this article to make educated investing selections. When it comes to cryptography, Zero Knowledge is one of the most exciting recent innovations. The rebranding of ConsenSys’ zkEVM to Linea represents an important step towards this long-awaited innovation.
ConsenSys’ Linea is a zkEVM solution. Many other projects have also begun using the zkEVM solution after the launch of Public Testnet. Joining the testnet of this project gives you an opportunity to obtain important Airdrops from the project, but it has no intention to distribute tokens.
It is important to remember, however, that zkEVM is a very new field of study. There is still a lot of room for growth in zkEVM, and developments in zkEVM will always be well-received by the community.