ConsenSys Unleashes Revolutionary zkEVM on Public Testnet for Ultra-Secure Ethereum Settlements
The post ConsenSys Unleashes Revolutionary zkEVM on Public Testnet for Ultra-Secure Ethereum Settlements appeared first on Coinpedia Fintech News
Ever since the inception of the Ethereum blockchain, ConsenSys has been dedicated to its growth and democratization. The company has played a vital role in the Ethereum ecosystem by developing widely-adopted developer tools like Infura and open-source software like Hyperledger Besu and Teku. According to a recent tweet, ConsenSys, one of the leading blockchain development firms, has announced the launch of its zkEVM (Zero-Knowledge Ethereum Virtual Machine) on the public testnet. The zkEVM is expected to deliver a new level of security and privacy to Ethereum settlements.
ConsenSys Launches The Much Anticipated zkEVM
ConsenSys is gearing up to launch its zero-knowledge Ethereum Virtual Machine (zkEVM) rollup on a public testnet on March 28. Developed over four years, the zkEVM is expected to provide speedy finality, high throughput, and enhanced security for settlements on the Ethereum blockchain. This upcoming release is a significant step forward in ConsenSys’ ongoing efforts to advance blockchain technology and bring greater scalability to the Ethereum ecosystem.
During Q4 of 2022, a private beta of the zkEVM was made available to a select group of users. This exclusive access enabled over 350,000 transactions to be processed and various decentralized applications (DApps) to be onboarded. In addition, the testnet served as a valuable tool for Solidity developers, allowing them to build, test, and launch DApps while putting the zkEVM to the test at scale.
The ConsenSys zkEVM results from a collaborative effort between various teams, including Infura, Truffle, and MetaMask, as well as developers working on Besu and Gnark. The rollup has been designed to streamline the development process, enhance security measures, and reduce onboarding times for developers. In addition, with the integration of various features, the zkEVM aims to make the developer experience more straightforward and efficient.
Ethereum Developers To Open Up Multiple Doors
Zero-knowledge (ZK) technology employs cryptography to expedite transactions and lower gas fees on blockchains. As a result, several companies are vying to introduce this innovation to the Ethereum ecosystem, which experts predict will be one of the most popular blockchain trends of the year.
According to ConsenSys, developers can construct applications on the zkEVM platform or transition to pre-existing DApps without altering code or rewriting smart contracts. The zkEVM employs Ether to pay gas fees, eliminating the necessity for third-party code translation and other middleware solutions.
ConsenSys’ zkEVM platform collaborates with MetaMask to hasten user onboarding. Infura integration enables developers to distribute DApps on a larger scale. Furthermore, Solidity smart contracts can be built, tested, debugged, and deployed through a range of Truffle-powered layer two developer environments.
After launching, ConsenSys plans to maintain the zkEVM platform as an open-source project. According to Nicolas Liochon, Head of Research and Development at ConsenSys, the public beta testnet’s objective is to test the system in conditions similar to those it would face on the mainnet, where the stakes are greater. Nicolas said:
“Users and developers will be able to permissionlessly interact with our technology stack allowing us to stress test the system under challenging and adversarial conditions.”
The competition to launch the initial ZK rollup has intensified in recent times. Polygon is scheduled to release its mainnet beta zkEVM later this month. Meanwhile, Scroll and Matter Labs have disclosed their intention to introduce ZK rollups, but launch dates have yet to be announced.
Coinpedia Fintech News