ConsenSys Begins Private Beta Testnet For zkEVM To Solve The Difficulties Of Zk-rollups

Key Points:

• For a new scaling and privacy technology called zkEVM that is based on Ethereum, ConsenSys created a private beta testnet.
• The testnet’s objective, according to the business, is to determine whether the new scaling technology can significantly enhance the experience of crypto developers.
• With zkEVM, which will provide full compatibility with EVM, developers can deploy and manage dApps using tools like MetaMask, Truffle, and Infura wallets as if they were using Ethereum directly.

ConsenSys, the Ethereum-based blockchain infrastructure platform that powers Metamask and Infura, has launched a private beta testnet for the innovative scaling and privacy technology zkEVM.

ConsenSys is investigating a possibly game-changing technology on the testnet that might exponentially increase Ethereum’s performance and transaction costs. Zero-knowledge Ethereum Virtual Machine is known as zkEVM. It enables developers to create applications using the same coding languages and tooling they are used to on Ethereum without having to learn arithmetic and cryptography skills required to code without any prior expertise.

The zkEVM Private Beta, which will help onboard more people in the upcoming weeks, represents a significant advancement in blockchain technology.

Prior to the start of the new project, Consensys had stated that it would concentrate on internal zkEVM beta testing by the end of December 2022 and the onboarding of external users to its Layer 2 zk-Rollup technology in January 2023. Since December, more than 150 000 applications have been submitted to the ConsenSys testnet.

By utilizing the power of zk-Rollups, which enables quicker and less expensive transactions on the Ethereum blockchain, the company’s new project also attempts to address the scalability and efficiency issues faced by Ethereum.

The company adopted a novel strategy by creating a different layer for transactions to be confirmed instead of developing zk-Rollups on networks separate from the Ethereum Virtual Machine. This allows computation results to be returned to the Ethereum blockchain without the need for all the data, increasing efficiency and scalability on the Ethereum blockchain.

The industry is taking notice of this unique strategy, and many people are anxious to see the consequences of their efforts. A shining illustration of their dedication to breaking down barriers in the blockchain industry is zero-knowledge technology.

Test smart contracts, dapps, infrastructure, and wallets by bridging assets between the Goerli testnet and the zkEVM as part of the beta program. Prior to releasing new apps in a live environment, test networks like the Goerli testnet are frequently used to deploy and evaluate new applications.

ZkEVMs have yet to be tested in a real-world setting, despite their promise. A large number of projects, including zkSync and Polygon Hermez, both of which are further along in their testnet phases, are anticipated to launch this year.

Developers will be able to test their dApps in a realistic setting thanks to the private beta testing network for zkEVM, which represents a huge advancement for the Ethereum community. Ethereum has the potential to grow to new heights with the enhanced scalability provided by zkEVM, and ConsenSys’ latest initiative may completely alter the industry.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your research before investing.

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