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Linea is live: Be ready to bridge first

Altszn.com by Altszn.com
July 11, 2023
in Blockchain, Crypto, DeFi, Web3
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Linea is live: Be ready to bridge first
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What you can find on Linea

Linea is a zk rollup for scaling Ethereum dApps. This means you get all the best projects from Ethereum with the speed and simplicity of a rollup.

Because it’s built on Layer 2, on top of the main Ethereum blockchain, Linea can ‘roll up’ transactions into bundles and prove them off-chain in batches. So it’s far quicker than Layer 1, where transactions are processed individually.

What’s more, Linea avoids the congestion of the main Ethereum blockchain and can thereby save users the gas fees which can eat into profits and income.

These gains are magnified by the use of zero-knowledge validation, a technology we use on rhino.fi. zk validation systems can prove transactions using only fragments of information, minimising the need for validators and preserving user privacy (with zk proofs, you can demonstrate the validity of a transaction without revealing the details of either party).

And the whole system inherits the core security of Ethereum, so you get speed, scalability and the security of the world’s most popular blockchain.

This combination promises users the ability to:

  • Swap tokens, farm yield and access liquidity for ultra-low fees.
  • Mint, trade and collateralize NFTs at scale.
  • Full compatibility with existing tools, infrastructure, IDEs and wallets.
  • On-chain verification of all transactions by a decentralized community of over 600k validators.

The project has been created by ConsenSys, whose CEO, Joe Lubin, was one of the chief architects of Ethereum. Lubin’s team have already created MetaMask, one of the world’s most popular software wallets with over 30 million users, and various other products including a dedicated NFT platform. Linea is their most ambitious project yet, and has already secured support from many of the most popular dApps on L1 Ethereum.

UniSwap, SushiSwap, Celer, Poseidon, LayerZero and Ghost NFT are among the projects that have been building on Linear these past few months, so users can plug into a rich, varied ecosystem from day 1, providing all the possibilities they can enjoy on more established blockchains.

How to reach Linea

Bridges are only open to Linea partners (like rhino.fi right now), but we’ll be opening our bridge next week to Linea mainnet alpha, extending the technology we’ve already applied to different chains.

It works like this:

  • We establish a liquidity outpost on the chain in question.
  • We enable you to access this chain using smart contracts. The whole process is controlled by user signatures, so you retain full control of your funds at all times.

This system allows you to move your funds in seconds, and we can apply it to new chains in a matter of days – so we can open our bridges on day 1.

To access our bridge to Linea, all you need to do is click the Bridges widget on our app. 

Our bridge is actually a two-stage process: you deposit from your destination chain and withdraw to your origin chain. 

So, simply deposit from the chain you’ve been using and then withdraw to Linea. You’ll be there before you know it.

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Read More: rhino.fi

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