DeFi liquidity protocol integrates Consensys-developed zkEVM rollup Linea

DeFi liquidity protocol integrates Consensys-developed zkEVM rollup Linea

The Rise of Zero-Knowledge Proof Solutions in the Blockchain Industry

The blockchain industry continues to witness significant advancements in layer-2 scalable solutions, with a particular focus on zero-knowledge (ZK) proof-based technologies. One such solution gaining popularity is Linea, a zkEVM-based scalable solution for cross-chain swaps developed by ConsenSys. Symbiosis, a decentralized finance liquidity protocol, has recently announced its support for Linea, further expanding its capabilities in the Ethereum ecosystem.

Linea is a developer-ready zkEVM roll-up type, making it Ethereum-compatible and allowing developers to leverage existing infrastructure for creating multi-asset-based solutions. With over 100 protocols, developer tools, and decentralized applications (Dapps), Linea provides a comprehensive and scalable toolset for developers in the Ethereum ecosystem.

Symbiosis Finance gained mainstream recognition in March 2022 with its stablecoin liquidity solution. Since then, the cross-chain liquidity provider has integrated several other layer-2 scalable solutions to enhance its offerings. In April, Symbiosis integrated zkSync, another zk rollup developed by Matter Labs. This integration enabled one-click swaps from Ethereum, Polygon, Avalanche, BNB Chain, Telos, and other blockchains to zkSync and back. Additionally, Symbiosis has integrated popular L2 solutions such as Polygon’s zkEVM, Optimism, and Arbitrum.

To gain further insights into Symbiosis’ experience with layer-2 solutions and their decision to integrate Linea, Cointelegraph reached out to Symbiosis co-founder Nick Avramov. Avramov explained that Linea perfectly aligns with the protocol’s strategy to support the most popular L2 solutions. The decision to integrate Linea was based on community feedback and requests from partners such as OpenOcean and OKX DEX, who utilize Symbiosis SDK/API.

• Zero Barriers: Zero knowledge and AI redefine the future.
• Crypto Council opposes US Senate’s proposed bill due to its unworkable obligations for DeFi.
• Lybra Finance, a stablecoin issuer, has launched the Arbitrum testnet as part of its efforts to become more DeFi-friendly.

Discussing the rise of ZK rollups as a prominent force in layer-2 solutions, Avramov highlighted their user onboarding capabilities and their ability to target new domains like Gamefi and Social without compromising security. He also expressed his belief that Optimistic rollups may eventually become obsolete, with ZK rollups becoming the true L2 solutions.

ZK rollups represent a natural evolution of rollup technologies and have the potential to resolve the cross-chain/multi-chain dilemma, a challenge raised by Ethereum co-founder Vitalik Buterin in January 2022. Symbiosis’ integration of ZK rollups has already resulted in a 300% increase in transaction throughput month on month, with cross-chain trading volume surpassing $500 million. With the integration of Linea, Symbiosis anticipates that cross-chain swaps could surpass billions of dollars in volume in the next couple of months.

The blockchain industry has witnessed significant progress in layer-2 scalable solutions, particularly in the realm of zero-knowledge proof technologies. Linea’s integration into Symbiosis’ liquidity protocol reflects the industry’s drive to provide developers with robust tools and infrastructure for multi-asset solutions. The rise of ZK rollups as a prominent force in layer-2 solutions is transforming the landscape of blockchain technology, with the potential to resolve cross-chain challenges and enhance user onboarding capabilities.

In conclusion, the blockchain industry’s continuous exploration of innovative solutions like Linea and ZK rollups showcases its commitment to scalability and interoperability. As the industry evolves, these advancements will enable developers to create more efficient and inclusive blockchain applications, further driving the adoption of decentralized finance and cross-chain functionalities. The integration of Linea by Symbiosis represents a significant milestone and sets the stage for further growth in the blockchain industry.

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References:

• ConsenSys zkEVM set for public testnet to deliver secure settlements on Ethereum
• Crypto audits and bug bounties are broken: Here’s how to fix them

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