- Consensys and Mastercard have revealed an Ethereum scaling protocol – Consensys Rollups
- Consensys Rollups utilizes zero-knowledge (ZK) proofs for enhanced privacy
- The scaling solution could see private Ethereum blockchains run at 10,000 TPS
Consensys and Mastercard have launched an Ethereum scaling solution that can be used for mainnet and private Ethereum-based blockchains. ConsenSys Rollups has seen Consensys developers work with Mastercard’s engineering team to allow the Ethereum mainnet to potentially reach 10,000 transactions per second (TPS) although this won’t reach the Ethereum mainnet.
Consensys Rollups Could See Quorum Hit 10,000 TPS
ConsenSys Rollups is “an innovative modular software solution for permissioned blockchain applications” like Quorum, which Consensys acquired last year. A Consensys statement on the launch. It is focused on “providing scalability and privacy capabilities that can be connected to any Ethereum Virtual Machine (EVM) compatible blockchain”.
Currently, the Ethereum mainnet runs on 15 TPS while private chains without Rollups can reach 300 TPS at present, so ConsenSys Rollups would offer a huge boost to these speeds. As well as offering an increase in speed, Consensys Rollups will also offer “strong privacy protections to both enhance solutions for existing use cases and enable new use cases.” Consensys says that use cases for its new technology could include central bank digital currencies (CBDC), decentralized exchanges (DEX), micropayments and private transfer and taxes.
ZK Proofs Coming Back into Fashion
The privacy element of the Consensys Rollups relies, as the name suggests, on zero-knowledge (ZK) proofs, a technology that has been around for several years but has evolved over time. ZK proofs allow a sending party to prove a transaction without actually executing it on the network, which means that unlike with regular transactions they can hide details like account balances, senders, recipients, and amounts.