The blockchain ecosystem is rising quickly, with new use circumstances and functions rising day-after-day. Nevertheless, the scalability and price problems with the Ethereum community pose vital challenges to the adoption and innovation of DeFi improvement options and web3. That is the place layer-2 options come into play, providing sooner, cheaper, and safer transactions on high of the Ethereum layer-1; and one such layer-2 resolution is the Linea Community.
Linea Community is without doubt one of the most promising Layer-2 options. It’s a zkEVM layer-two chain launched by Consensys, the Web3 software program firm based by Ethereum co-founder Joseph Lubin. Linea leverages the facility of zero-knowledge proofs to validate transactions off-chain and submit a cryptographic proof to the Ethereum mainnet, attaining excessive throughput and low fuel charges.
Linea Community is appropriate with the Ethereum Digital Machine (EVM), which implies that any good contract or decentralized software (DApp) that runs on Ethereum may run on Linea Community with none modification. The Community leverages a novel lattice-based prover that generates zkSNARK (Zero-Data Succinct Non-Interactive Arguments of Data) proofs effectively and securely, with out requiring a trusted setup.
Linea has a number of key options that make it stand out amongst different layer-2 options.
- Excessive transaction velocity: Linea can course of over 10,000 transactions per second, which is orders of magnitude sooner than Ethereum’s 15 transactions per second12.
- Low fuel charges: Linea reduces fuel charges by as much as 99%, making DeFi extra accessible and inexpensive for everyone12.
- EVM compatibility: Linea helps good contracts which can be appropriate with each zero-knowledge proofs and the Ethereum Digital Machine (EVM), enabling seamless migration and interoperability of present and new DApps12.
- Integration with MetaMask and over 100 DApps: Linea is built-in with MetaMask, the main web3 pockets with over 10 million month-to-month energetic users12. Linea additionally hosts over 100 DApps, together with decentralized exchanges, lending protocols, perpetual contracts, and social finance platforms
Linea has proven spectacular progress since its alpha mainnet launch in July 2023. As of this writing, its whole worth locked (TVL) is USD 52.32m. It has garnered over 100,000 weekly energetic customers within the first month alone. This makes it the third largest ZK-rollup by TVL, simply behind zkSync Period and dYdX v3.
Supply: https://defillama.com/chain/Linea
We’ve established how Linea is a promising resolution to scale Ethereum transactions. However how does Linea work underneath the hood? What are the parts that make up its structure and allow its options? Under are the principle components of Linea’s structure with their roles and features.
The Coordinator is the central element of Linea’s structure, appearing as a hub of coordination for numerous processes inside the community. It manages the circulation of knowledge between completely different parts, such because the Sequencer, the EVM State Supervisor, the Prover, and the Verifier. It additionally connects Linea to different blockchains, knowledge availability options, and community nodes. The Coordinator has a modular structure, the place every element operates in its personal surroundings and communicates with the others by way of the Coordinator. The Coordinator is answerable for orchestrating the community and making certain its safety and effectivity.
The Sequencer acts because the core of Linea’s execution engine, ordering, setting up, and executing blocks. It takes transactions from Linea’s mempool and sequences them into a selected order. It then assembles these transactions into blocks and executes them utilizing linea-geth, an optimized model of the Geth protocol for zero-knowledge proofs. It additionally generates the hint knowledge from these executions, which is crucial for proof era. The Sequencer interacts with the Coordinator to optimize the blocks for proof era and knowledge availability, utilizing inner subsystems such because the Hint Generator and the Batch Conflator.
The EVM State Supervisor is a vital element of Linea’s community that makes use of the EVM (Ethereum Digital Machine) to run good contracts. It retains monitor of the worldwide state and the account state of the community and updates them primarily based on the execution hint knowledge from the blocks processed by the Sequencer. The Prover then makes use of this up to date state info to generate and submit zero-knowledge proofs to the Ethereum blockchain.
The Prover is the software program that creates zero-knowledge proofs for transactions on Linea. It makes use of the hint knowledge from the Coordinator and turns it right into a zero-knowledge succinct non-interactive argument of information (zk-SNARK). It employs a brand new lattice-based cryptography scheme that avoids a trusted setup and makes proofs faster than different zkSNARK methods. It additionally shrinks the proofs utilizing gnark, a library for quick zk-SNARK proof creation and verification.
The Verifier is the good contract that checks the proofs from the Prover. It’s on the Ethereum mainnet and connects Linea to Ethereum. It makes use of a public verification key to confirm the proofs and updates the state of Linea on Ethereum, which reveals the most recent balances and knowledge of the customers and DApps on Linea. It additionally lets customers transfer funds between Linea and Ethereum.
The Community Knowledge is the element that makes Linea’s blockchain public and accessible. It solutions queries from customers and DApps utilizing the Ethereum JSON-RPC API requirements, together with account info requests from MetaMask customers on Linea. It additionally has a number of nodes for various features, akin to client-facing RPC-API nodes and archive nodes, with the assistance of Infura and Consensys. It adjusts to keep up community velocity and availability.
Linea rolled out the Linea DeFi Voyage, a six-week gamification expertise by way of which customers can discover the Linea ecosystem and find out about DeFi improvement companies in a enjoyable and rewarding approach. Spanning from November seventh, 2023 to December 18th, 2023, this system aimed to cater to people in any respect ranges, from these new to web3 to skilled buyers, who can profit from the easy-to-follow guides and tutorial content material crafted in partnership with MetaMask Study and Intract.
The Linea DeFi Voyage consisted of ten waves of quests and core duties. Every wave featured a single core job, which was a compulsory quest that customers wanted to finish to advance to the following wave. Customers may additionally decide to finish bonus duties for added rewards. Every job may have a unique problem stage and XP reward. Customers may be a part of the occasion at any time, however they wanted to finish all of the waves earlier than the tip date to be eligible for the ultimate reward. The ultimate reward was the XP token, which is predicted to be exchangeable for Linea ecosystem’s native token sooner or later
Listed below are all of the waves of the DeFi Voyage at a look. Wave 0: DeFi Voyage Launch
The journey started by introducing Voyagers to core Linea, web3, and DeFi ideas. Understanding the overarching narrative, Voyage XP, and DeFi Voyage dynamics set the stage for Voyagers’ academic journey.
Wave 1: MetaMask
Voyagers began their L2 DeFi journey by bridging funds into Linea and swapping tokens on Velocore utilizing MetaMask Portfolio. This enhanced Ethereum scaling and maximizing LXP.
Wave 2: Bridging and Onramps
Voyagers explored Linea’s bridging ecosystem, delving into on-ramps that facilitate fiat-to-crypto transitions and bridging strategies connecting Ethereum with different blockchains.
Wave 3: Token Swaps
This wave concerned exploring Linea’s DEX and DEX aggregator ecosystem, understanding good contracts, liquidity swimming pools, and the dangers related to token swapping, together with numerous crypto belongings, akin to stablecoins, liquid staking tokens, and real-world belongings.
Wave 4: Lending and Borrowing
Throughout this wave, the voyagers explored DeFi cash markets — which supply conventional finance instruments like curiosity and liquidity, supercharged with the facility of decentralization, studying about lending and borrowing, key phrases, and related dangers and advantages.
Wave 5: Liquidity Provision and Yield Farming
Complexity elevated as Voyagers explored liquidity provision and yield farming, contributing belongings as liquidity to decentralized exchanges and understanding related dangers.
Wave 6: Proof-of-Humanity
On this wave, voyagers verified their identification utilizing Verax, an on-chain attestation system. This course of established a belief and repute scoring system primarily based on publicly accessible knowledge. Voyagers proved their humanity by way of Verax, making a clear registry of attestation knowledge. This distinctive method doesn’t rely solely on trusting issuers however leverages repute protocols utilized to on-chain knowledge, enhancing safety. Although the DeFi Voyage concluded, finishing Proof of Humanity on Verax stays important for voyagers to gather their LXP and keep ecosystem integrity.
Wave 7: Buying and selling
Voyagers explored advanced buying and selling merchandise in DeFi, understanding the versatile and modular nature of DeFi’s “stackable cash legos.” This wave allowed contributors to realize insights into the distinctive options of DeFi, the place numerous parts may be stacked and mixed like constructing blocks. Voyagers gained an understanding of how DeFi transcends conventional monetary merchandise, introducing new paradigms and creating a various and dynamic monetary ecosystem.
Wave 8: SocialFi
Throughout Wave 8, the main target shifted to “SocialFi,” the place Voyagers actively engaged in decentralized social actions. This concerned the creation of NFTs to seize and doc every participant’s distinctive Linea journey. Moreover, Voyagers had the chance to work together with Tomo, exploring the intersection of social media and decentralized finance.
Wave 9: SuperDApps
Individuals explored SuperDapps, Web3 wallets that transcend the odd, offering enhanced functionalities, strong safety measures, and an unparalleled person expertise throughout a broader spectrum. They even discovered in regards to the intricacies of those feature-rich wallets, discovering their means to behave as highly effective gateways to decentralized finance, providing cross-chain help, encrypted key storage, and different cutting-edge options for an enriched person journey inside the expansive Linea ecosystem.
Wave 10: Account Abstraction
Within the culminating Wave 10 voyagers skilled the seamless functionalities of account abstraction by way of Timeless Pockets. This modern method aimed to simplify the web3 dApp person expertise, eliminating the necessity for convoluted processes and excessive fuel charges. Individuals engaged in swaps, liquidity provision, and borrowing throughout DeFi dApps with heightened effectivity. The wave emphasised the main UX advances achieved by way of account abstraction, significantly by way of options like transaction sponsoring and paymasters, providing a user-friendly and cost-effective method inside the Linea ecosystem.
The Linea Community is greater than only a layer-2 resolution for Ethereum. It’s a vibrant and numerous ecosystem of DeFi platforms and protocols that leverage the assorted benefits of Linea. These platforms and protocols thus provide quite a lot of companies and alternatives within the Web3 area. Right here’s an outline of every of them.
Velocore is a decentralized alternate that permits customers to swap any ERC-20 token on Linea with low slippage and excessive liquidity, because of its fixed product market maker (CPMM) algorithm and its integration with different DEXes on Ethereum and Linea. It additionally lets customers present liquidity to any pair of tokens and earn charges and rewards, in addition to compound their earnings mechanically with one click on.
Velocore is without doubt one of the hottest and user-friendly platforms on Linea, with over $100M TVL and 50,000 customers within the first month of launch. Velocore’s advantages embrace:
- Scalability: Velocore can deal with 1000’s of transactions per second, because of Linea’s zkEVM know-how, which implies customers can take pleasure in quick and easy buying and selling and farming experiences.
- Safety: It’s secured by zero-knowledge proofs and the Ethereum mainnet, which implies customers can belief that their funds and transactions are secure and verifiable
- Usability: It’s straightforward to make use of and accessible, because of its easy and intuitive interface, its integration with MetaMask and Linea Protected, and its help for a number of languages and currencies.
- Innovation: Velocore is consistently innovating and including new options and functionalities, akin to cross-chain swaps, restrict orders, and governance.
Linea Protected is a great pockets that permits customers to entry DApps, handle belongings, and carry out transactions on Linea. It’s greater than only a pockets, it is usually a gateway to the Linea ecosystem and the web3 world. Linea Protected helps a number of accounts, a number of signatures, and a number of gadgets, in addition to biometric authentication and restoration choices.
Linea Protected relies on the Protected venture, a famend and trusted resolution for web3 safety, and helps each the Linea Goerli and mainnet. Linea Protected additionally has a novel and interesting design that displays the Linea model and identification, because of the contributions of Protofire, a number one blockchain improvement crew. Protofire is a beneficial accomplice of Linea, offering their experience and help to enhance the web3 ecosystem, particularly Linea Protected. Protofire is devoted to creating Linea Protected safer, superior, and user-friendly.
Tomo is a decentralized social community that connects creators and their followers on Linea. It permits customers to enroll simply with their present social media or electronic mail accounts and provides them a private ERC-4337 good contract pockets that bridges their funds to Linea and automates their transactions. Tomo takes benefit of Linea’s quick and low-cost transactions and plans so as to add message privateness options to Tomo’s chat for safe communication.
Tomo’s modern mechanism permits direct and ongoing interplay between creators and followers. Customers can categorical their opinions and help by way of Votes, which flip into Keys when creators be a part of Tomo, creating an actual and rewarding belief economic system. Not like conventional fashions, it promotes a profit-sharing economic system the place each creators and followers profit from mutual success. A clear and honest income mannequin ensures creators’ earnings whereas sustaining the ecosystem’s progress.
Supply: https://linea.mirror.xyz/Dn3-ktmZ-e3v4nZtrZTI7iS-pF8bnolfBJQAUDQ-jto
Chainlink is a decentralized oracle community that gives dependable and safe knowledge feeds to Linea. Oracles are intermediaries that join good contracts to exterior knowledge sources, akin to market costs, climate situations, and sports activities outcomes. Chainlink is the main oracle resolution within the web3 area, with over 1,000 knowledge suppliers and over 500 integrations with numerous blockchains, platforms, and protocols.
Linea has built-in Chainlink Knowledge Feeds to reinforce its software ecosystem. Chainlink’s connection to a number of premium knowledge suppliers ensures complete and correct market info. ConsenSys highlighted the significance of high-quality off-chain knowledge for enabling numerous and feature-rich functions. Builders can now leverage Chainlink’s knowledge infrastructure to construct DeFi, gaming, and asset tokenization functions on Linea’s scalable and low-cost L2 community.
Supply: https://linea.mirror.xyz/W0t0hORg6vPzfB5CtySrp8KC_q7kmHu2cR3oUuWXRDg
Linea’s imaginative and prescient is to supply a scalable and user-friendly platform for builders and customers to construct and use DApps on Ethereum, and to allow a sustainable, clean-energy future powered by web3. Its potential is immense, because it goals to help extra DApps and platforms, launch its native token, and increase its neighborhood and ecosystem.
Linea is undeniably some of the promising and thrilling layer-2 options within the web3 area, and it has lots to supply to the DeFi and web3 fans. In case you are seeking to study extra about Linea or some other DeFi improvement options, at Codezeros we can assist. Join with our decentralized finance improvement firm at the moment for a free preliminary session.
