ConsenSys and Mastercard have presented a joint Ethereum scaling solution
The goal of the technology is to increase the speed of transactions, efficiency, and security level of the Ethereum network
17.12.2021 - 10:30
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What’s new? Ethereum development studio ConsenSys has partnered with Mastercard to launch ConsenSys Rollups, a network scaling solution. It is based on a zero-knowledge proofs technology that allows encoding important information. This is stated in a joint statement of the companies.
🔈Very excited to announce the launch of @ConsenSys Rollups in partnership with @Mastercard to provide enterprise-grade scalability + address the key challenge of scalable applications on the @ConsenSysQuorum tech-stack🚀https://t.co/NE6kuDBYW4— ConsenSys (@ConsenSys) December 16, 2021
What are the advantages of the new technology? ConsenSys Rollups is a new modular software for permissioned blockchain applications in both the main Ethereum network and in closed networks based on it. The purpose of the innovative technology is to increase the speed of transactions, efficiency, and security level of the Ethereum network.
The creators of the new solution note that due to ConsenSys Rollups, the blockchain systems will be able to process up to 10 000 transactions per second (TPS). Currently, the systems' capabilities in closed conditions are limited to 300 transactions, while in the main Ethereum network it is limited to 15 TPS.
What are the prospects for ConsenSys Rollups? According to the statement from the creators of the solution, it is suitable for creating public cryptocurrencies and decentralized exchanges, micropayments, as well as private transactions.
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