Ethereum News Daily Official TheBitTimes.com

Consensys blames SEC at top of 20% staff layoff announcement Pro-Ethereum conglomerate Consensys has announced a mass round of layoffs that its founder and CEO Joe Lubin has primarily blamed on the Securities and Exchange Commission’s (SEC) “abuse of power” and “attacks.” In a blog post announcing the 162 “right-size” job cuts — 19.5% of its 828 employees — Lubin also called out Congress for its “inability to rectify” Consensys’ legal woes. The SEC is suing Consensys for several profitable business units that allegedly violate US law. In its June 28 suit, commissioners explained that Consensys’ Swaps feature of its MetaMask software acts as an unregistered broker that effects securities transactions on behalf of investors. Moreover, they say Consensys also sold unregistered securities through its MetaMask Staking. A message from our CEO @ethereumjoseph on the tough decision that Consensys has made today to...

Consensys zkEVM Linea head Nicolas Liochon says speed and execution will continue to increase as it tweaks its Ethereum layer-2 scaling solution. Zero-knowledge (ZK) proof solutions have proved critical in helping scale the Ethereum ecosystem, but proto-danksharding is expected to drastically reduce the cost of rollups , according to Consensys’ zkEVM Linea head Nicolas Liochon. Speaking exclusively to Cointelegraph Magazine editor Andrew Fenton during Korea Blockchain Week, Liochon estimated that proto-danksharding could further reduce rollup costs by 10 times. Proto-danksharding, also known by its Ethereum Improvement Proposal (EIP) identifier EIP-4844, is aimed at reducing the cost of rollups , which typically batch transactions and data off-chain and submit computational proof to the Ethereum blockchain. The Ethereum Foundation has yet to nail down an expected launch date for proto-danksharding , but development and testing are still ongoing. As Liochon explained, Linea delivers ...

ConsenSys will release its zkEVM rollup to its public testnet on March 28, paving the way for an eventual mainnet integration later in 2023. ConsenSys has announced the upcoming release of its zero-knowledge Ethereum Virtual Machine (zkEVM) rollup to a public testnet on March 28 , allowing for stress testing of the layer-2 scaling technology. ConsenSys’ research and development team has been working on its zkEVM rollup over the past four years. The zkEVM is touted to offer fast finality, high throughput and security of settlements on the Ethereum blockchain. A private beta launched in Q4 of 2022 gave early access to limited users, which processed over 350,000 transactions and onboarded various decentralized applications (DApps). The testnet allowed Solidity developers to build, test and launch DApps while testing the zkEVM at scale. Onboarding for our zkEVM is in full flow, and activity is at peak levels We’ve successfully executed 300k total transactions and are processing more than...