Home News ConsenSys and Mastercard have launched an Ethereum scaling solution

ConsenSys and Mastercard have launched an Ethereum scaling solution

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ConsenSys, in collaboration with Mastercard, has launched the ConsenSys Rollups solution for scaling the Ethereum network.

Thus, the new solution aims to increase the speed of transactions. As well as the overall efficiency of the network of the second largest cryptocurrency and authorized systems based on Quorum.

“ConsenSys Rollups is an innovative modular software solution for permissioned blockchain applications focused on providing scalability and privacy capabilities that can be connected to any Ethereum Virtual Machine (EVM) compatible blockchain,” the project blog says.

The new solution uses zero-knowledge (ZK) proofs technology

Moreover, the new solution uses zero-knowledge (ZK) proofs technology. The developers stressed that using ConsenSys Rollups, blockchain systems will be able to process up to 10,000 transactions per second (TPS).

According to them, such high productivity opens up new use cases in such areas as central bank digital currency (CBDC), decentralized exchanges, micropayments and confidential transactions.

“Consumer protections including privacy and highly scalable infrastructure are key requirements for any blockchain solutions we build. Our collaboration with ConsenSys is a key step in meeting that need and advancing this space”. EVP of Digital Asset Products & Partnerships at Mastercard, Raj Dhamodharan, said.

In addition, all tokens that match the ERC-20 standard are compatible with ConsenSys Rollups.

A $200 million funding round in November

Recall that previously in November ConsenSys closed a $200 million funding round. Investors including Third Point, HSBC, Marshall Wace and Coinbase Ventures valued it at $3.2 billion.

The company promised to direct the raised funds to the development of the Infura infrastructure platform and the MetaMask non-custodial wallet, as well as the expansion of the staff.

Furthermore, more than 350,000 developers using Infura. Their number has increased by 250% in a year. The solution is popular in the decentralized finance (DeFi) sector. A decentralized exchange Uniswap and the MakerDAO protocol are built on the basis of the platform. The creators of non-fungible token (NFT) projects like Art Blocks and Sorare also use it.

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