ConsenSys and Mastercard Launch Solution to Scale Ethereum

ConsenSys, in collaboration with Mastercard, has launched ConsenSys Rollups, a solution 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 boost transaction speed as well as the overall efficiency of the second-largest cryptocurrency by market capitalisation and permissioned systems based on Quorum.

“ConsenSys Rollups — an innovative modular software for permissioned blockchain applications, focused on delivering scalability and privacy. It can be connected to any system compatible with the Ethereum Virtual Machine,” according to the project blog.

The solution employs zero-knowledge proof technology. Developers stressed that with ConsenSys Rollups, blockchain systems can 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, micro-payments, and confidential transactions.

Earlier in November ConsenSys closed a financing round of $200 million. Investors valued the company at $3.2 billion.

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