Linea Bridges $26M ETH in 1 Month, Becomes The Fastest-growing zkEVM on Ethereum

Key Takeaways

• Linea’s Explosive Growth: Consensys’ Linea, a cutting-edge zkEVM blockchain solution, has witnessed remarkable growth since its public launch. Within just a month, it processed over 2.7 million transactions and bridged $26 million worth of tokens, solidifying its status as the fastest-growing zkEVM in the industry.
• Unlocking Diverse Use Cases: Linea’s mainnet release opens the doors to an array of exciting use cases. From blue-chip ERC20 tokens and stablecoins to DeFi applications, gaming, NFTs, and more, Linea provides scalability, low fees, and high throughput, attracting developers and users alike.
• Partnerships for Seamless Adoption: Collaborating with leading entities like MetaMask, Banxa, Circle, and Transak, Linea is making adoption even smoother. Early users can benefit from a limited-time promotion offering zero network and gateway fees, further incentivizing participation and growth within the ecosystem.
• Commitment to Security and Decentralization: Linea’s journey doesn’t stop at its successful launch. With a comprehensive roadmap divided into five phases, Linea aims to progressively enhance security and decentralization. By leveraging zk technology, Linea pioneers a secure and resilient blockchain ecosystem, ensuring a trust-driven decentralized future.

Consensys announces public launch of its Layer 2 blockchain solution Linea

Consensys, a prominent web3 software technology firm, has announced the successful public launch of its Layer 2 blockchain solution called Linea. This follows the Linea mainnet’s debut at the EthCC event in Paris.

In its first month, Linea’s mainnet witnessed remarkable on-chain activity, including over 2.7 million transactions and $26 million worth of tokens bridged. This made it the fastest-growing zkEVM (Zero-Knowledge Ethereum Virtual Machine).

As part of this public launch, Linea introduced its ERC20 token bridge featuring a canonical token list. This facilitates Third Party Bridge Partners integrated with Linea to enable global users to bridge ERC20 tokens to the Linea Network, thereby unlocking a wave of decentralized finance (DeFi) applications.

To celebrate this milestone, Linea has partnered with MetaMask, Banxa, Circle, and Transak to offer early users a two-week promotion from August 17th to 31st. During this period, Linea users can enjoy zero network fees and gateway fees when on-ramping to the network using MetaMask’s Buy crypto aggregator to purchase USDC.e, a version of USDC on Linea.

One month after the Linea Mainnet launch, the platform boasts more than 150 partners deploying decentralized applications, over 100,000 weekly active users, and over 2.7 million transactions.

Linea currently processes an average of 1.5 transactions per second at a fraction of the cost of fees on the Ethereum mainnet. This cost advantage is expected to improve further as rollup costs paid to Ethereum decrease.

Linea’s Vast Use Cases and Strong Ecosystem: A New Era of Possibilities

The public release of Linea unlocks various use cases, including blue-chip ERC20 tokens, stablecoins, liquid staking ETH, memecoins, and a range of scalable dapps spanning DeFi, gaming, identity, decentralized social networks, and NFTs.

Linea is being preferred for its fast finality, efficient bridge, and inherited Ethereum security for DeFi apps, while NFTs, gaming, and social apps benefit from zkEVM’s EVM Equivalence, low gas fees, high throughput, and low latency.

With Linea now accessible through wallets like MetaMask, users can engage in token swapping, lending, borrowing, complex DeFi applications, NFT trading, and more. Linea’s Ecosystem Investment Alliance (EIA), involving over 30 venture capital firms, aims to support builders through investment and network access.

Linea’s launch also includes its first major NFT collection, minted by participants, solidifying its position as one of the largest NFT collections in Ethereum history.

Linea has expressed its commitment to collaboration, security, and progressive decentralization, as showcased by its five-phase roadmap aimed at maturing the Linea network into a secure rollup supported by Ethereum.

Read Also: Immutable zkEVM Enters Public Testing Phase, Unleashing Low Costs and Massive Scale for Web3 Games

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• Source: https://alexablockchain.com/linea-becomes-fastest-growing-zkevm/