Blockchain

ConsenSys Set The Date Ready For zkEVM Public Testnet On March 28

Key Points:

ConsenSys will launch a zero-knowledge Ethereum Virtual Machine public testnet on March 28.
ConsenSys’ zkEVM testnet opened a private beta version to 100 selected users. But it’s now open for anyone to join.
Later this month, Polygon will also launch its zkEVM mainnet beta. Scroll and Matter Labs have also announced that they will launch ZK rollups, but no dates have yet been set.

The race for zero-knowledge Ethereum Virtual Machine (zkEVM) is more intense than ever as ConsenSys announced the deployment of a public testnet for the technology.

Zero-knowledge (ZK) technology is a form of technology that employs encryption to assist in boosting transaction speed and lower gas fees on blockchains.

ZkEVMs are a sort of scaling mechanism, also known as a ZK roll-up, that tries to process transactions more quickly on a Layer 2 chain atop the main blockchain before sending the data back to Layer 1.

Several organizations are scrambling to bring innovation to the Ethereum ecosystem, which is expected to be one of the year’s biggest blockchain developments, according to industry analysts. Coincu also has an article on this topic.

ConsenSys’ action comes after the Brooklyn, New York-based software company launched its private beta zkEVM testnet in December. The private testnet has completed over 350,000 transactions since then.

The ConsenSys zkEVM team also collaborated with the Hop community to expedite the integration. Shane Fontaine, Co-Founder and COO of Hop Protocol, said:

“The ease of integration, tooling, compatibility, and responsiveness from the ConsenSys team allowed this integration to work seamlessly with the existing Hop development stack.”

The company stated that its objective was to not just scale test its zkEVM but also to offer a smooth developer experience. It intended to empower builders to focus only on innovation by providing native connectors with other ConsenSys technologies like as MetaMask and Truffle.

The battle to be the first ZK rollup to go live has lately escalated. Polygon will launch its mainnet beta zkEVM later this month. Scroll and Matter Labs have also announced the release of ZK rollups, although no dates have been established.

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Harold

Coincu News

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.