Mastercard works to make Ethereum faster and more private

Key facts:
  • ConsenSys announced its scaling solution capable of up to 10,000 transactions per second.

  • The rollups would help improve privacy, according to the Ethereum incubator.

Software firm ConsenSys has partnered with Mastercard to launch ConsenSys Rollups. It is a modular solution that would provide “privacy and scalability capabilities” to authorized applications connected to any Ethereum Virtual Machine (EVM) -compliant system.

The ConsenSys Rollups scalability solution, in a private test chain, offers the ability to boost performance up to 10,000 transactions per second and thereby fulfills the ongoing mission of Ethereum 2.0. Currently the main network processes only 15 transactions per second.

According to ConsenSys, such high performance open new use cases in areas such as central bank digital currencies (CBDC), decentralized exchanges (DEX), micropayments, and confidential transactions.

ConsenSys worked with Mastercard engineers on this development and with their launch it appears that both are determined to encourage companies to adopt blockchain, as these rollups They are intended for business solutions.

In its release ConsenSys adds that its rollups leverage zero-knowledge (ZK) proofs to protect specific transaction items, such as account balances, sender, recipient, and amount. This for prevent this data from being shared publicly over the network, improving the privacy and confidentiality of transactions.

As reported by CriptoNoticias ConsenSys raised USD 65 million in a financing round in April In which JPMorgan, Mastercard and UBS participated as investors, as well as a group of technology startups focused on blockchain such as Protocol Labs, the Maker Foundation, among others.

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