Consensys launches stacking scaling solution with Mastercard support – bitcoin news

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Consensys, an Ethereum software company, announced yesterday the launch of a new scaling solution for Ethereum, called “Consensys Rollups”. The company brought in programmers from Mastercard to design the solution, which aims to enable the network to achieve a throughput of 10,000 TPS (transactions per second), according to a press release. The solution can be implemented on private and authorized protocols like Quorum, or on public chains like Ethereum.

Consensys to manage scaling with assistance from Mastercard

Consensys, an Ethereum software company, yesterday launched Consensys Rollups, a ZK-based scaling solution for Ethereum-based networks. The company revealed that this initiative was undertaken with the help of Mastercard’s engineering team, who helped design the solution.

According to Consensys, the Consensys Rollups solution will be deployable on enterprise-focused protocol platforms such as Quorum, or directly on Ethereum. Quorum is a protocol layer acquired by Consensys and developed by JPMorgan that allows companies to deploy their applications in a secure environment resembling Ethereum. According to Consensys:

[The goal is] Provide enterprise-grade scalability to leading financial and other organizations, addressing the key challenge of scalable applications on Quorum’s technology stack.

Implementing such a scaling solution would apparently allow these networks to process up to 10,000 TPS, far more than the number of transactions currently occurring on Ethereum Layer 1 (L1). This development follows the announcement of a partnership between Mastercard and Consensys made in April, with the aim of combining their expertise to develop solutions based on Quorum.

Scaling the state of Ethereum L2

The Ethereum L2 (Layer 2) scaling panorama has seen substantial growth this year. According to L2 beat, an L2 Ethereum layer value aggregator, there is now over $ 5 billion stuck in some of these initiatives, up from the $ 50 million those same solutions recorded earlier this year.

This newly developed solution launched yesterday could compete with other solutions like Arbitrum, which already has more than $ 2.2 billion in its platform, with more than 50% of this value in Ether. The scaling solution uses the same underlying technology as Consensys Rollups, called ZK-proofs.

But that’s not the only technology used to scale Ethereum. Optimism, another scaling network, uses a different technology called Optimistic Rollups, which is technically different from the aforementioned solutions. Vitalik Buterin, the co-founder of Ethereum, said that while ETH2 has a solution for scalability, the Ethereum ecosystem is likely to be full on rollups before ETH2 arrives.

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

Sergio goschenko

Sergio is a Venezuela-based cryptocurrency journalist. He describes himself as late in the game, entering the cryptosphere when the price hike occurred in December 2017. Having a background in computer engineering, living in Venezuela and being impacted by the cryptocurrency boom on a social level , it offers a different point of view. on the success of crypto and how it is helping the unbanked and underserved.

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