Consensys launches Rollups extension solution with the support of Mastercard – Bitcoin News


Ethereum software company Consensys yesterday announced the launch of a new Ethereum scaling solution called “Consensys Rollups.” According to the public relations statement, the company hired MasterCard programmers to design the solution, which aims to allow the network to achieve a throughput of 10,000 TPS (transactions per second). The solution can be implemented on top of private licensing agreements such as Quorum or on public chains such as Ethereum.

Consensys will resolve expansion issues with the assistance of MasterCard

Consensys is an Ethereum software company, roll out Consensys Rollups Yesterday, a ZK-based scaling solution for Ethereum-based networks. The company revealed that the plan was carried out with the help of the Mastercard engineering team, which helped design the solution.

According to Consensys, the Consensys Rollups solution will be deployed on an enterprise-centric protocol platform, such as Quorum, Or directly on Ethereum. Quorum is a protocol layer acquired by Consensys and developed by JPMorgan Chase, allowing companies to deploy their applications in a secure environment similar to Ethereum. According to Consensys:

[The goal is] Provide enterprise-level scalability for leading financial organizations and other institutions, and solve the key challenges of scalable applications on the Quorum technology stack.

The implementation of this scaling solution will ostensibly allow these networks to process up to 10,000 TPS, far exceeding the number of transactions currently occurring on Ethereum’s layer 1 (L1).This development follows announcement Mastercard and Consensys formed a partnership in April with the goal of combining their expertise to develop solutions based on Quorum.

The state of Ethereum L2 expansion

The Ethereum L2 (layer 2) zoom panorama has experienced substantial growth this year.according to L2 beatIt is an L2 Ethereum layer value aggregator, and more than $5 billion is now locked in some of these plans, which is higher than the $50 million registered for these same solutions at the beginning of this year.

This newly developed solution launched yesterday may compete with other solutions, such as arbiter, Its platform already has more than 2.2 billion U.S. dollars in assets, of which more than 50% is worth Ether. The scaling solution uses the same underlying technology as Consensys Rollups, called ZK-proofs.

But this is not the only technology used to scale Ethereum. optimism, Another extended network, uses a different technology called Optimistic Rollups, which is technically different from the above solutions. Vitalik Buterin, co-founder of Ethereum statement Although ETH2 has a scalable solution, the Ethereum ecosystem is likely to go all out before ETH2 arrives.

What do you think of Consensys Rollups technology? Tell us in the comments section below.'

Sergio Goshenko

Sergio is a cryptocurrency journalist based in Venezuela. He described himself late and entered the crypto space when prices rose in December 2017. With a background in computer engineering, living in Venezuela, and being affected by the cryptocurrency boom at the social level, he offers a different perspective on the success of cryptography and how it can help people without bank accounts and underserved people.

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