ConsenSys Jumps On The zkEVM Bandwagon, Announces L2 Launch

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The lead­ing Ethereum soft­ware devel­op­er firm Con­sen­Sys has announced the test­net launch of its Con­sen­sys zkEVM. The new layer‑2 blockchain will be Ethereum Vir­tu­al Machine (EVM) com­pat­i­ble and will lever­age ZK-Rollup. Con­sen­Sys has devel­oped many infra­struc­ture prod­ucts for Ethereum that include. Meta­mask, Infu­ra, Quo­rum, Truf­fle, Code­fi, and Diligence.

Rollups are an Ethereum scal­ing solu­tion that process­es sev­er­al trans­ac­tions off-chain and then merges them into a sin­gle trans­ac­tion on the Ethereum main­net. The two most pop­u­lar types of Rollups are Opti­mistic Rollups and ZK-Rollups. The lat­ter is much more dif­fi­cult to imple­ment, and the dif­fer­ence lies in the val­i­da­tion mechanism.

ConsenSys To Launch zkEVM Testnet on 28th March

Accord­ing to the lat­est announce­ment, the test­net of the Con­sen­Sys zkEVM will be launched on 28th March. The upcom­ing blockchain has already suc­cess­ful­ly com­plet­ed its beta test­ing phase, where 490,000 trans­ac­tions were processed. The process onboard­ed dozens of dapps on the new L2.

Ethereum Layer 2
Ethereum Lay­er 2

This will be one of the pio­neer­ing zero knowl­edge proof-based layer‑2 scal­ing solu­tions with instant com­pat­i­bil­i­ty for Ethereum dapps. The blockchain will allow the Ethereum main­net dapps to be deployed on the new zkEVM with min­i­mal effort. The announce­ment also stat­ed that Coin­senSyc zkEVM would have built-in Meta­mask, Infu­ra, and Truf­fle integrations.

Polygon zkEVM vs ConsenSys zkEVM

While opti­mistic Rollups solu­tions are already out (Arbi­trum, Opti­mism, etc.) are already out and gain­ing trac­tion, a prop­er zkRollup is yet to see the light of day. Con­sen­Sys zkEVM is not the only zero-knowl­edge L2 under devel­op­ment. In fact, Poly­gon zkEVM is get­ting launched in the beta phase a day before the Con­sen­Sys L2 test­net goes live.

This sug­gests that the com­pe­ti­tion in this under­ex­plored fron­tier is get­ting fierce. zkSync and Scroll are oth­er zk Rollups-based solu­tions in devel­op­ment. The for­mer has been in restrict­ed inter­nal use since Octo­ber 2022. Con­sen­Sys has also invit­ed the devel­op­ers to sub­mit their projects for deploy­ment on the upcom­ing test­net. The much-await­ed solu­tion aims to pro­vide cheap trans­ac­tion fees while lever­ag­ing the com­plete secu­ri­ty of Ethereum.

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