According to Cointelegraph, ConsenSys, a blockchain platform, completed the launch of Linea, an Ethereum-based scaling rollup. It is expected that they have onboarded more than 150 partners, bridging more than $26 million in Ether (ETH $1,822) till now.
“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,” Declan Fox, senior product manager, Linea, explained.
Sources revealed that Fox added that Linea will be able to support a variety of Web3.0 use cases. Supposedly, its low transaction costs can make it particularly useful for decentralised finance (DeFi) applications, Cointelegraph added.
“Linea is seamless for existing DeFi protocols and DApp developers to build composable money legos that work together to create innovative user experiences,” Fox told Cointelegraph.
(With insights from Cointelegraph)