• 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.
• Developed over four years, the zkEVM is expected to provide speedy finality, high throughput, and enhanced security for settlements on the Ethereum blockchain.
ConsenSys Launches Revolutionary zkEVM
ConsenSys, one of the leading blockchain development firms, recently announced the launch of its zero-knowledge Ethereum Virtual Machine (zkEVM) on a public testnet. The zkEVM is intended to bring a new level of security and privacy to Ethereum settlements. After being in development for four years, this rollup promises to deliver speedy finality, high throughput, and enhanced security for settlements on the Ethereum blockchain.
Beta Testing The zkEVM
During Q4 of 2022, ConsenSys opened up a private beta of their zkEVM product which enabled over 350,000 transactions to be processed and various decentralized applications (DApps) to be onboarded. This exclusive access was beneficial as it allowed developers to build, test and launch DApps while putting the zkEVM under heavy load at scale.
The Teams Behind The Successful Rollup
The successful release of ConsenSys‘ zkEVM results from collaboration between various teams including Infura , Truffle , MetaMask , Besu , Gnark , Solidity developers etc . This rollup has been designed in such a way that allows developers to streamline their development process while also reducing onboarding times with added security measures .
What Is ZK-Rollups?
ZK-Rollups are layer 2 scaling solutions which allow users to conduct off-chain computations while ensuring all data remains secure on-chain through cryptographic proof validations . By migrating certain operations off-chain , users can benefit from increased speed & scalability while still maintaining trustless properties . As more & more teams look towards developing Layer 2 scalability solutions , it’s likely that we’ll start seeing even more comprehensive solutions introduced in near future .
All in all , with its upcoming release scheduled for March 28th , 2021 ConsenSys hopes that their Zero Knowledge EVM will bring newer levels of security & privacy for Ethereum settlements & ultimately pave way for greater scalability within Ethereum ecosystem .