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New Ethereum scaling solutions named” Consensys Rollups” have been launched by Ethereum software firm, Consensys. Mastercard programmers have designed the solution which will allow 10,000 transactions per second (TPS).
The second-largest currency by market cap is being better with each passing day. New rollups like EIP-1559 and EIP-4488 are making the network more reliable and attractive for investors. The Microsoft chief has predicted that Ethereum will be a new app store in the next two years. Ethereum software firm, Consensys, is working hard to provide new rollups to make the network better.
New Ethereum scaling solutions have been launched:
Yesterday, Consensys introduced ZK-proof based scaling solution for the Ethereum network. These new Ethereum scaling solutions were designed by Consensys with the help of Mastercard’s engineering team. The firm has explained that these Rollups solutions will be deployable on platforms such as Quorum, or directly on Ethereum. Quorum protocol was developed by JPMorgan which allows firms to deploy their applications in a secure environment resembling Ethereum. Consensys further detailed:
[The goal is] to provide enterprise-grade scalability to leading financial organizations and others, addressing the key challenge of scalable applications on the Quorum tech-stack.
The important thing about these new Ethereum scaling solutions is that they will increase the number of transactions on Ethereum layer-1 up to 10,000 TPS. Consensys and Mastercard partnered up in April to develop such Rollups for the Ethereum Network. Ethereum layer-2 is also growing as more than $5 billion are locked in some of these initiatives.
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