Blockchain

Layer 2 Linea Mainnet Alpha To Launch Next Week, Officially Competing With L2s

Key Points:

Consensys is preparing to launch the mainnet alpha of its Linea network, a Layer 2 solution built on Ethereum, which enables faster transaction speeds and reduced costs through zkEVM rollups.
Linea aims to provide a cost-effective alternative for Ethereum developers and users, with transaction prices up to 15 times lower than Ethereum Layer 1.
The network has garnered significant interest during its testnet period, with millions of wallets participating in transactions.

Consensys, the leading Ethereum development company, is set to deploy the mainnet alpha of its Linea network next week, increasing competition inside Ethereum’s Layer 2 ecosystem.

Layer 2 Linea Mainnet Alpha To Launch Next Week, Officially Competing With L2s 4

On top of Ethereum, the Linea network enables zkEVM rollups, enabling developers to construct blockchain applications with quicker transaction speeds and reduced costs.

Consensys said on Tuesday that it would onboard ecosystem partners this week before launching Linea to the public at next week’s Ethereum Community Conference in Paris.

The network, according to Consensys, intends to provide a cost-effective option for Ethereum application developers and consumers, with transaction costs up to 15 times lower than Ethereum Layer 1. It is completely compatible with Ethereum Virtual Machine (EVM) bytecode and connects with Ethereum’s current development tools.

Layer 2 Linea Mainnet Alpha To Launch Next Week, Officially Competing With L2s 5

Joe Lubin, the founder and CEO of Consensys, stated:

“Ethereum layer 2 networks are set to play a crucial role in making great advances in scalability and usability. Linea’s zkEVM is the catalyst we’ve been waiting for to empower developers to shape the future of decentralized applications and encourage the builder in everyone.”

Linea is a Layer 2 chain that is interoperable with Ethereum applications and uses ZK-Rollups for scalability.

Its launch follows a successful testnet period in which Linea got tremendous user interest, becoming one of the biggest active projects on the Goerli testnet. 5.2 million distinct wallets participated during this period, completing almost 41 million transactions in only three months, but many of them may be considered airdrop farmers.

Layer 2 Linea Mainnet Alpha To Launch Next Week, Officially Competing With L2s 6

The alpha mainnet stage of Linea delivers a better user experience as well as an ecosystem of over 100 protocols, partners, and decentralized apps. The network will be used by the Consensys-owned self-custody web3 wallet MetaMask, as well as additional developer tools such as Infura, Diligence, and Hyperledger Besu.

Linea will first be available to the project’s testnet partners. It will thereafter be available to the public during the EthCC conference, which takes place from July 17 to July 20. Consensys announced the Linea Ecosystem Investment Alliance (EIA) at the launch of Mainnet Alpha, an effort sponsored by over 30 prominent venture capital companies that intend to empower builders by offering financing and resources.

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

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.