ConsenSys zkEVM set for public testnet to deliver secure settlements on Ethereum

Published at: March 3, 2023

ConsenSys has announced the upcoming release of its zero-knowledge Ethereum Virtual Machine (zkEVM) rollup to a public testnet on March 28, allowing for stress testing of the layer-2 scaling technology.

ConsenSys’ research and development team has been working on its zkEVM rollup over the past four years. The zkEVM is touted to offer fast finality, high throughput and security of settlements on the Ethereum blockchain.

A private beta launched in Q4 of 2022 gave early access to limited users, which processed over 350,000 transactions and onboarded various decentralized applications (DApps). The testnet allowed Solidity developers to build, test and launch DApps while testing the zkEVM at scale.

Onboarding for our zkEVM is in full flow, and activity is at peak levels We’ve successfully executed 300k total transactions and are processing more than 50,000 transactions per day https://t.co/Tn42pKGPrr

— ConsenSys (@ConsenSys) February 23, 2023

ConsenSys zkEVM is the culmination of work from teams at Infura, Truffle and MetaMask, as well as developers on Besu and Gnark. Integrations and features of the rollup were aimed to remove developer complexity, improve security and expedite onboarding times.

An announcement shared with Cointelegraph highlighted zero switching costs as a benefit to projects in the ecosystem. Developers can build on the zkEVM or migrate existing DApps without changing code or rewriting smart contracts. The zkEVM also uses Ether (ETH) for gas fees, cutting out the need for third-party code translation and other middleware solutions.

ConsenSys zkEVM integrates with MetaMask, which is aimed to expedite the onboarding of users. Infura integration also allows developers to ship DApps at scale. Developers will also be able to build, test, debug and deploy Solidity smart contracts with a variety of layer 2 developer environments powered by Truffle.

ConsenSys also aims to keep its zkEVM open-source after launch. Nicolas Liochon, head of research and development at ConsenSys, told Cointelegraph that the goal of the public beta testnet is to trial the system under the same conditions it would face on mainnet where the stakes are higher.

“Users and developers will be able to permissionlessly interact with our technology stack allowing us to stress test the system under challenging and adversarial conditions.”

Following integration with the public testnet, ConsenSys will carry out a system outgrade. This is aimed at laying the foundation for a “highly performant, trustless, and decentralized network,” according to Liochon.

The final upgrade will also start its auditing and security process to ensure the zkEVM is safe and secure before a mainnet launch earmarked to take place later in 2023.

ConsenSys is in discussions with leading players in the Ethereum ecosystem to deploy and integrate with its zkEVM testnet. Liochon highlighted the focus on making the scaling rollup EVM-equivalent a key factor in making it easy for DApps and tools to switch to its zkEVM.

Liochon also said efforts to make decentralized and trustless applications available to the public require simpler and cheaper systems. The zkEVM aims to achieve this by building a trustless, censorship-resistance, decentralized and performant execution layer that scales Ethereum.

Collaboration with the wider layer 2 ecosystems is also a focus for ConsenSys. Liochon said the organization is looking to work with innovators in the space to convene the first zkEVM “multi-prover” rollup.

This type of scaling rollup would have multiple prover implementations generating validity proofs of computation.

Tags
Blockchain
Ethereum
Dapps
Consensys
Dapp
Upgrade
Zk-Rollup
Related Posts
ConsenSys partners with China’s Blockchain-based Service Network
ConsenSys, one of the world’s largest blockchain software companies, has partnered with the Blockchain-based Service Network, a Chinese government-backed nationwide blockchain project, As part of the partnership, ConsenSys’ Ethereum-based distributed ledger protocol, ConsenSys Quorum, will be featured in the BSN ecosystem, the firm announced on Monday. The protocol will be available in 80 different cities through the BSN’s public city nodes across mainland China. ConsenSys director Charles d’Haussy told Cointelegraph that ConsenSys Quorum will be available in all major cities and provinces, including Beijing, Xiong’an and Hangzhou. ConsenSys’ GoQuorum — an open-source Ethereum client and part of ConsenSys Quorum — …
Blockchain / Jan. 25, 2021
Blockchain startup offers peer-to-peer contracts for market deals
A startup in a blockchain ecosystem says it eliminates the conflicts of interest that are often seen on fiat platforms. Value Network enables users to create binary options markets based on their very own parameters, including asset pair, price level and time of expiration. This peer-to-peer approach means they don’t have to bet against centralized brokers, some of whom have been linked to scams and fraud in a largely unregulated space. Binary options expire at a set date in the future — with a yes or no outcome. A successful bet means users win the funds of those who had …
Blockchain / April 22, 2021
Boost for smart contracts as oracle system goes live on Binance Smart Chain
An oracle system has launched on Binance Smart Chain — enabling developers to create DApps and decentralized autonomous organizations that are fueled by real-world data. Bridge Oracle, which first made its debut on Tron, says the expansion of its easy-to-use infrastructure is a significant milestone. Now, a diverse range of data sources can be integrated into smart contracts — boosting their utility immeasurably. Data can be fetched using HTTP and HTTPS requests, or through the computational knowledge of WolframAlpha. Oracles can be used to generate random numbers, and this infrastructure also paves the way for enterprises to integrate blockchain technology …
Technology / May 6, 2021
Project to provide easy-to-use multichain wallet and Ethereum-to-Polkadot bridge
A smart contract platform aimed at the decentralized finance market seeks to make it easy to transfer decentralized applications from clogged, expensive Ethereum to Polkadot. The open-source project’s goal is to create easy-to-use blockchain infrastructure that will improve the interoperability of cross-chain assets, attracting developers of DeFi projects. Clover Finance wants to build a one-stop infrastructure platform that will make it simpler and less expensive for developers of DeFi projects to migrate their DApps onto Polkadot, a potential Ethereum killer that achieves scalability by running many blockchains in parallel, each with its own design and each serving a specific purpose …
Technology / April 20, 2021
Decentralized apps on Polygon hit 37,000, rocketing 400% this year
The number of decentralized applications (DApps) on Ethereum-scaling-platform Polygon has topped 37,000, marking a 400% increase since the start of 2022. The Polygon team shared the figures via an Aug. 10 blog post, which was sourced from partnered Web3 development platform Alchemy, noting that the figure represents the cumulative number of applications ever launched on both the testnet and mainnet. It also noted that the number of monthly active teams — a measure of developer activity on a blockchain — reached 11,800 at the end of July, up a whopping 47.5% from March. The project team also highlighted a breakdown …
Adoption / Aug. 11, 2022