The native token, PROM, plays a critical role in network fees, security, and governance, similar to MATIC on Polygon.

Team & Investors

Founders: Experienced blockchain and crypto professionals with expertise in ZK technology, Ethereum compatibility, and distributed high-performance networks.
Key Investors & Partners: Supported by blockchain investors and strategic partners contributing to network security, liquidity, and ecosystem growth.

Purpose & Functionality

• ZK-Rollups: Off-chain transactions are aggregated and verified with a single zero-knowledge proof.

• EVM Compatibility: Deploy Ethereum smart contracts seamlessly.

• Security: Maintains Ethereum-level security.

Prom ensures safe and fast asset transfers and dApp development for both users and developers.

Core Components

• zkNode: Software to run Prom nodes. Supports roles like JSON RPC, Sequencer, and Aggregator.

• zkProver: Produces ZK proofs for multiple batches and combines them into a single validity proof.

• Multichain Bridge: Transfers assets across Ethereum, BSC, Optimism, Arbitrum, and Polygon using Official Bridge and Hyperlane technology.

Governance (Prom DAO)

• Delegates: $PROM holders delegate voting power.

• Validators: Verify proposals and secure network governance.

• Members: $PROM holders can propose and vote on network decisions.

Economic Incentives: Delegates and validators share 32% of network fees, rewarding active governance participation.

Roadmap

• Initial: Deploy Marco devices and validator infrastructure.

• Mid-Term: Integrate energy, agriculture, logistics, and climate data.

• Development: Expand dApps and cross-chain bridge integrations for multichain support.

PROM Token

• Total Supply: 19.25M PROM
  Max Supply: 19.25M PROM
  Circulating Supply: 18.25M PROM

Token Utility:

• Gas Fees: Transactions and smart contract execution.

• Governance: Participate in Prom DAO.

• Network Access: Use Prom services and applications.

• Validator Participation: Run a node to support the network.

Token Allocation:

• Team & Advisors: 5.19%

• Company Reserve: 15.58%

• Private Investors: 18.18%

• Reserved for Minting: 46.75%

• Ecosystem: 5.19%

• Public Sale: 3.86%

• Liquidity Pool: 5.23%

Ecosystem & Features

• zkNode: Ensures node operation, transaction verification, and network synchronization.

• Multichain Bridge: Supports Ethereum, BSC, Optimism, Arbitrum, and Polygon.

• High Speed & Low Fees: ZK-Rollups reduce costs and increase throughput.

• EVM Compatibility: Existing Ethereum dApps work seamlessly.

Supported Chains

• Ethereum

• Binance Smart Chain (BSC)

• Optimism

• Arbitrum

• Polygon

Official Links

• Website
• Twitter
• Telegram
• Youtube

Also, you can freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

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The goal of the Linea Association is not only to shape the future of the network but also to advance the development of the zkEVM mainnet and facilitate its decentralization. The development process will be supported by mechanisms such as governance, decentralized sequencing, and proving. Additionally, Consensys’s popular MetaMask wallet will support the distribution of decentralized applications (dApps).

Founder and Linea Association board member Nicolas Liochon emphasized that decentralization is at the core of the project’s vision: “This network must be a public good, owned and governed openly by all, just like Ethereum. This means the future of the project will be in the hands of our community, empowering users and developers to shape its roadmap together.”

Token Launch and Future Plans

The highly anticipated LINEA token launch, scheduled for Q1 2025, will enable users to participate in network decisions through token holder governance. The role of token holders in decision-making will be crucial in shaping the future of the project. However, details regarding the economics, distribution strategies, and token allocation remain undisclosed.

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In just 15 months since its launch, the project has become one of the fastest-growing zkEVM networks on Ethereum. It surpassed 230 million transactions, while its ecosystem expanded from 150 partners to over 420.

Consensys and MetaMask

In addition to Consensys, the popular MetaMask wallet is offering a decentralized web3 experience. However, there has been no official announcement regarding the potential launch of a MetaMask token. Joe Lubin had previously revealed plans for MetaMask to eventually launch a token, which would help form a DAO structure and fund development within the MetaMask ecosystem.

Additionally, the victory of Donald Trump in the recent U.S. election has raised hopes for a more crypto-friendly regulatory environment, as Trump has promised to take a more favorable stance on crypto regulation. His plans include removing SEC Chairman Gary Gensler and making changes that may benefit the crypto sector.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

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Polygon, a layer-2 scaling solution for Ethereum, has announced that its zero-knowledge Ethereum Virtual Machine (zkEVM) is experiencing downtime because of an issue with its blockchain sequencer. Polygon clarified that this problem is specific to zkEVM and does not affect any other chains deployed using the Polygon chain development kit (CDK).

The blockchain sequencer, responsible for organizing and combining transactions into batches before relaying them to the Polygon zkEVM smart contract on Ethereum’s main network, is the source of the problem, according to Polygon.

Polygon is working to fully resolve the issue and plans to release a detailed post-mortem statement once the matter is resolved.

Some users on social media platforms like X have been questioning the lack of discussion surrounding the extended network downtime. This incident follows a significant outage experienced by the Solana network just a month prior.

In March 2023, Polygon launched zkEVM to its mainnet beta to enable developers to deploy smart contracts with increased finality and lower costs. The open-source zkEVM aims to scale decentralized applications through transaction batching, offering higher performance.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

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This article dives deep into Scroll’s features, technology, and benefits, helping you decide if it’s the right choice for your Ethereum development needs.

Key Takeaways

• Scroll is a Layer 2 scaling solution for Ethereum, utilizing zkEVMs (zero-knowledge Ethereum Virtual Machines) for efficient transaction processing.
• zkEVMs enable Scroll to bundle multiple transactions, significantly reducing data stored on the main chain and boosting transaction throughput.
• Scroll prioritizes developer experience, offering a familiar EVM environment and seamless integration with existing Ethereum tools.
• Features like Sepolia testnet, faucet, bridge, and Scrollscan empower developers to build and test dApps with ease.

What Is Scroll?

Ethereum’s scalability limitations are no secret. Scroll tackles this challenge with zkEVMs, a cutting-edge technology that combines zero-knowledge proofs with the familiar EVM environment. This powerful duo allows Scroll to:

• Validate transactions off-chain, drastically reducing on-chain data and transaction costs.
• Generate cryptographic proofs confirming the validity of off-chain transactions, ensuring network security.
• Maintain compatibility with existing Ethereum tools and dApps, making it easy for developers to adopt Scroll.

Scroll’s Architecture: Working in Harmony

Scroll’s architecture comprises several key components that work together seamlessly:

• Scroll Nodes: Handle block creation, proof generation, and communication with the Ethereum mainnet.
• Roller Network: Utilizes specialized hardware (GPUs/ASICs) to generate zero-knowledge proofs efficiently.
• Rollup and Bridge Contracts: Manage ZK-rollups, ensuring smooth transitions between Scroll and Ethereum.

Developer-Centric Features for a Smooth Experience

Scroll recognizes the importance of developer experience. They offer a range of features to streamline your workflow:

• Sepolia Testnet: Experiment with building dApps in a risk-free environment, replicating both Ethereum and Scroll layers.
• Faucet: Access free testnet tokens to develop and test your dApps without spending real funds.
• Bridge: Easily move assets between Scroll, Ethereum, and the Sepolia testnet with full transparency and control.
• Scrollscan: Explore transactions, tokens, addresses, and crypto prices effortlessly within the Scroll ecosystem.

Scroll vs. the Competition: Why Choose zkEVMs?

Several Layer 2 solutions address Ethereum’s scalability issues. However, Scroll stands out with its unique approach:

• Unmatched Scalability: ZK-rollups enable significant transaction throughput reductions compared to other Layer 2 options.
• Enhanced Security: Zero-knowledge proofs guarantee the validity of every transaction, maintaining Ethereum’s security standards.
• Developer-Friendly EVM Compatibility: Seamless integration with familiar Ethereum tools and dApps minimizes development hurdles.

Is Scroll the Future of Ethereum Scaling?

With its innovative technology, developer-centric approach, and impressive features, Scroll presents a compelling solution for scaling Ethereum projects. If you’re looking to build secure, high-performance dApps without sacrificing user experience, Scroll is definitely worth exploring.

The post What Is Scroll? Native zkEVM Layer 2 for Ethereum appeared first on Coin Engineer.

Celer starts by supporting the ETH bridge between Scroll and our other supported chains on cBridge. This allows users to easily transfer ETH across various protocols.

In the beginning, it uses xLiquidity, a liquidity pool-based model to support token transfers between the Scroll Mainnet and other chains. Also, Celer’s Integrated Cross-Chain Messaging Framework with Scroll allows developers to create dApps with seamless cross-chain application logic. These dApps not only provide seamless cross-chain user experience between various chains and layer-2’s, but can also support features such as NFT bridges, the ability to buy and bid for NFT across different chains, and claim cross-chain rewards.

As we continue to expand interoperability efforts and support more tokens and chains, keep following us for more exciting updates. The potential is truly limitless, and Celer would be delighted to have you with us as we shape the future of cross-chain connections.

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What is Scroll?

Scroll is a native zkEVM Layer 2 scaling solution for Ethereum, taking priority in security and decentralization while offering lower costs, higher speeds, and limitless scalability. Scroll provides almost the same experience for Ethereum developers working on Scroll with byte code level compatibility and high composability. A globally decentralized team established Scroll in 2021 with the goal of addressing the Ethereum scaling trilemma.

What is Celer?

Celer is a blockchain interoperability protocol that facilitates easy access to Token, DeFi, GameFi, NFT, governance solutions, privacy solutions and much more across different chains. Developers can create native dApps providing efficient liquidity use, consistent application logic, and access to shared states using Celer’s Cross-Chain Message SDK. Users of Celer featured dApps will encounter the simplicity of a user experience of a transaction performed on a single chain while also benefiting from the advantages of a multi-blockchain ecosystem.

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The post Celer Initiates Bridging for Scroll Mainnet! appeared first on Coin Engineer.

A zkEVM solution like Scroll aims to provide higher efficiency and lower transaction costs for decentralized applications running on Ethereum. This type of solution processes thousands of off-chain transactions, merges them into a single transaction, and then sends proof in the form of a minimum data summary to the Ethereum mainnet.

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450,000 smart contracts were deployed (Scroll)

According to Etherscan data, the first smart contract in Scroll’s mainnet has been operating live since the day it was posted to the Scroll mainnet on October 8. However, this does not conflict with the initial announcement, as the project’s team confirmed the start of the launch and stated that their platform operates “seamlessly right out of the box”.

Scroll stated that it completed extensive tests and security audits on three separate test networks before launching the mainnet. The Scroll team added, ” OpenZeppelin and Zellic audited our bridge and aggregator contracts. ZkEVM circuits were reviewed by Trail of Bits, Zellic and Kalos. On these three test networks, over 450,000 smart contracts were deployed to facilitate over 90 million transactions in a total of 9 million blocks. The company also noted that they produced 280,000 ZK proofs.

About a month ago, Scroll’s co-founder Ye Zhang, stated in an interview that Scroll would start with centralized features, but aimed to gradually decentralize over time. Zhang said, “We will initially have a centralized sequencer and centralized confirmation button.” However, he also highlighted that a plan is in place to remove this button in due course.

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