The zkEVM-Linea scaling solution is backed by ConsenSys (the parent company of Metamask wallet), and the Linea project is compared in terms of potential equivalents to zkSync and Polygon zkEVM.
So what is Linea? What are the highlights of the project? Let’s find out through the article below with CryptoChill.news!
What is Linea?
Linea is a ZkRollup platform built and developed on Ethereum. The platform is funded by Consensys, a blockchain technology company that is involved in many important projects on Ethereum, such as Metamask and Infura. Linea uses zkRollup technology to speed up and optimize transactions on Ethereum.
Linea also built its own zkEVM, which is an optimized version of the Ethereum Virtual Machine (EVM). zkEVM enhances performance and reduces costs for executing smart contracts on Linea. The platform offers many advanced features and scalability for transaction layering on Ethereum.
Outstanding features of the project
Linea is a zkRollup platform built and developed by Consensys on Ethereum. It provides a zkRollup mechanism to enhance performance and expand the capabilities of the Ethereum network. The platform minimizes the burden of resources and speeds up transaction processing on Ethereum.
Additionally, project also launched zkEVM, an optimized version of the Ethereum Virtual Machine (EVM). zkEVM makes it easy for developers to migrate from Ethereum to Linea without investing too much effort, money, or time. The platform focuses on optimizing smart contract execution and provides extensive features for applications built on Linea.
Project focuses on building a comprehensive web3 platform, including DeFi, NFTs, Gaming, Payments, and Infrastructure. This is achieved by combining puzzle pieces to form a robust ecosystem on Linea.
Linea has several significant advantages over other zkRollup platforms. Here are the main advantages:
- Compatibility: Linea builds zkEVM, an optimized version of the Ethereum Virtual Machine (EVM), which simplifies the transition from Ethereum to Linea. This allows existing projects on Ethereum to easily scale and deploy on Linea without changing much of the source code.
- Performance and scalability: Thanks to zkRollup technology, Linea has the ability to increase transaction speed and reduce costs. The zkRollup integration allows Linea to process a large number of transactions on a secondary blockchain while sending only authentic certificates of these transactions to the main blockchain, reducing the load on the Ethereum network.
- Security and privacy: zkRollup uses zero-knowledge proof technology to ensure privacy and confidentiality during transaction validation. Linea inherits this benefit, making users and projects on the platform highly safe and secure.
With these advantages, project is facilitating the development and delivery of a diverse and robust web3 platform for DeFi, NFTs, Gaming, Payments, and Infrastructure.
Token Overview
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Storage and Exchange Wallets
Storage wallets
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Exchanges
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Roadmap
December 12: Project launched a private beta, reaching over 2022K transactions and allowing developers to test on the Goerli network.
January 1: Open the private testnet and reach over 2023 billion transactions soon after.
March 3: The project has changed its name from ConsenSys zkEVM to Linea and has opened its Public Testnet to users in the experience market.
Q2 2023: The project is expected to launch its mainnet version this quarter.
Project Team
Project was developed by the same people in the ConsenSys team (the parent company of the Metamask wallet), in which:
- Joseph Lubin: He founded ConsenSys in 2014.
- Kavita Gupta is an executive in Residence at ConsenSys and a director of ConsenSys Ventures.
Investors and partners
Investors
ConsenSys has raised more than $727 million, specifically:
In the Series C round, ConsenSys raised more than 200 million USD with a valuation of 3.2 billion USD from large funds such as Animoca Brands, Coinbase Ventures, etc.
In the Series D round, ConsenSys raised $ 450 million, raising its valuation to $ 7 billion, backed by ParaFi Capital, Microsoft, SoftBank, and Temasek.
Partner
Relatively good partners with names such as UniSwap, Hop Protocol, Lens Protocol, Celer Bridge, LayerZero, etc. have launched on Linea’s ecosystem.
Project Verdict
Currently, the project has not launched a token, so the price forecast is not much information, but we can look through the funding rounds and the enormity of investors and partners, thereby showing that there will be an explosive project in the upcoming Layer 1 zkEVM segment. Besides, it is also possible that the project will Airdrop for early users, so please take advantage of the experience! (Instructions on Airdrop are available in the HC Gem Alerts group.)
Contact
Website: https://linea.build/
Twitter: https://twitter.com/lineabuild
Youtube: https://www.youtube.com/@LineaBuild
Summing up
Through the above article, CryptoChill has helped you know about Pendle Finance and the highlights of the project.
Disclaimer: This post is not investment advice. You will be 100% responsible for your investment decisions.
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