Consensys, the main software developer for Ethereum is partnering with payments giant Mastercard to launch Consensys Rollups and improve the scalability of the Ethereum blockchain for its mainnet and private use.
Consensys is also launching Gravity Bridge, which is a link between Eth and the Cosmos ecosystem. It aims to connect Ethereum with other blockchains.
With Ethereum usage at all-time high, a Cosmos ‘bridge’ to other blockchains and Mastercard rollups aim to solve a major problem plaguing the Eth network.
Cosmos also aims to address scalability along with usage and governance, by helping developers to build independent blockchains for a variety of use cases that have the ability to communicate with each other.
Some of those use cases include central bank digital currencies (CBDCs), decentralized exchanges, micropayments, and private transfers and taxes.
Rollups are a layer-2 solution that improves scalability on Ethereum by bundling and processing many transactions off-chain, before sending the results back to Ethereum for verification, therefore, reducing congestion on the network.
ConsenSys Rollups can currently achieve an output of up to 10,000 transactions per second (TPS) on a private chain while only 300 TPS can be achieved on private chains and 15 on the Ethereum mainnet.
See What’s Next in Tech With the Fast Forward Newsletter
Tweets From @varindiamag
Nothing to see here - yet
When they Tweet, their Tweets will show up here.
