ConsenSys has finished the private beta testing phase of their zkEVM network and will launch public testing on March 28.
ConsenSys announced that a private beta phase of the zero-knowledge, or ZK-Rollup, network had been completed successfully, handling over 490,000 transactions from different decentralized applications. This was accomplished while maintaining Ethereum’s security.
Existing dApps may be easily migrated to the Layer 2 network thanks to zkEVM’s compatibility with Ethereum Virtual Machine, one of the rollup’s primary advantages. The company said that Ethereum app developers might quickly transfer their code to the zkEVM network and start using it right away.
The development team said, “Our zkEVM is the conclusion of years of study by ConsenSys R&D and combines speedy finality, great throughput, and the security of Ethereum settlement.” Many well-known Ethereum applications will be pre-integrated inside the bundle, like the RPC service Infura, the development platform Truffle, and the MetaMask wallet.
There is presently no Ethereum compatibility in zero-knowledge Layer 2 solutions, even though they are thought to be more scalable than established Layer 2 solutions like Arbitrum and Optimist. Several groups have been working hard over the last year to solve this problem to create a Layer 2 built on top of ZK that is compatible with Ethereum applications. These groups include Polygon, Starknet, zkSync, Scroll, and ConsenSys.
ConsenSys is one of the leading competitors, although it will stay in testing for some time. Conversely, Polygon seeks to grab the lead by launching zkEVM on the Ethereum mainnet in beta on March 27, one day before the ConsenSys public testnet.
Moreover, there is zkSync, which released an alpha mainnet to onboard select applications last month. A final zkSync test launch may also occur in the coming months, eventually making the network accessible to the public.
Also Read: Vitalik Buterin Thinks That More Must Be Done To Enhance The Ethereum (ETH) User Experience
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.
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