ConsenSys, a leading software company focused on Ethereum blockchain technology, will launch a public test network for its zero-knowledge Ethereum Virtual Machine (zkEVM) on March 28. The announcement comes after the company released a private beta zkEVM testnet in December, which has already processed over 350,000 transactions.
The use of zero-knowledge (ZK) technology allows for faster transactions and reduced gas fees on blockchains. Many other companies are also developing ZK rollups for the Ethereum ecosystem, with Polygon and other companies expected to launch soon.
ConsenSys aims to be among the first to go live with a ZK rollup and plans to have its zkEVM out of testnet phase by the end of 2023.