Linea is a project built on zkEVM, which became a significant competitor in the race to dominate L2’s scalability.
Because the growing popularity and high volume of transactions pose many challenges to the Ethereum (ETH) network in terms of scalability, many scaling solutions have been launched, in which Layer-2 (L2) solution is attracting significant interest. Among them, Optimistic Rollups solutions such as Arbitrum and Optimism have proven their effectiveness in the Ethereum community.
What is Linea?
Linea is a remarkable Layer-2 solution that uses zkEVM (Virtual Machine Ethereum Zero-Knowledge) to combine the security and performance benefits of zkProofs with full EVM compatibility.
With that Layer 2 project, developers can deploy any smart contract, use familiar tools, and build applications as if they were on the Ethereum network, all while experiencing the same level of security as Ethereum but with lower transaction costs.
This project is supported by ConsenSys, the parent company of popular products such as Metamask wallet, Infura developer support tool, and Diligence audit unit. ConsenSys’ involvement adds credibility and expertise to Linea, making it a competitor in the zkEVM ecosystem, alongside other chains such as zkSync, Scroll, and Polygon zkEVM.
Does Linea’s technology really stand out?
Linea’s zkEVM technology brings many highlights to application development. DApps built on Linea can significantly reduce the cost of computation and storage on the Ethereum network. In addition, Consensys’ tech giant provides users with a simple and intuitive interface, making it easy for developers to build dApps on the platform.
By leveraging ConsenSys tools and APIs, developers can focus on creating Web3 innovations without worrying about the basic building blocks of Layer-2 development.
Given the attention and funding that Linea has garnered, it is highly likely that they will launch a token and conduct an airdrop in the future. This provides an exciting opportunity for users to receive tokens and participate in the development of the Linea ecosystem.
Despite being in the test-net phase, Linea’s ecosystem has attracted the interest of many projects. These include Hop Bridge, Cbridge, Layer Zero, Uniswap, Mes Protocol, and many more. The test-net phase is ongoing, and they are hosting an incentivized test-net campaign in which all test-net users will receive test-net NFTs at the end of the phase.
zkSync users are leaving the ecosystem
Soon after the announcement of the start of the Mainnet, many large whales of the zkSync system began to gradually withdraw liquidity from the system and switch to Linea, which was said to be potential.
A few days after “Child of ConsenSys” launched Mainnet, zkSync’s TVL dropped from $191M to $163.7M. Meanwhile, after only 1 week of launch, Linea’s TVL quickly reached USD 13.38 M, which is said to be one of the fastest TVL layer 2 blockchains.
Not only that, “Child of ConsenSys” is a product built and sponsored by Consensys – the parent company of Metamask – and received a grant of up to 726M USD. This is considered the project with the most significant total amount of funding so far in the blockchain field.
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