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ConsenSys has partnered with Mastercard to launch ConsenSys Rollups to scale the Ethereum network.
🔈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
The new technology is designed to increase the speed of transactions, as well as the overall efficiency of the network with the second largest cryptocurrency and permissioned systems based on Quorum.
“ConsenSys Rollups is an innovative modular blockchain permissioned application software focused on scalability and privacy capabilities. It can be connected to any system compatible with the Ethereum virtual machine, ”the project’s blog says.
What are tier 2 scaling solutions?
The new solution uses zero knowledge proof technology. The developers emphasized that using ConsenSys Rollups, blockchain systems will be able to process up to 10,000 transactions per second.
According to them, such high performance opens up new use cases in areas such as CBDC, decentralized exchanges, micropayments and confidential transactions.
Recall that in November, ConsenSys closed a round of financing for $ 200 million. Investors valued the company at $ 3.2 billion.
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