A new solution called ConsenSys Rollups was presented as a joint project by ConsenSys and the Mastercard payment system. Its purpose is to increase the speed of transaction processing in the Ethereum network. As part of this solution, a privacy feature has been added.
The project consists of a database of evidence, where disclosure is zero. This will provide users with protection of specific elements of financial transactions. For example, it can be the address of the recipient and sender, the amount of the transfer or the amount of money in wallets. Zero-knowledge proofs are a way of encrypting important information that prevents it from getting to third-party nodes.
The blog of the company ConsenSys Rollups is described as the latest software product, the purpose of which is security and scalability. It functions on the basis of any blockchain that supports Ethereum virtual hardware (EVM). This means that you can connect this software to the main Ethereum network, as well as to your own ConsenSys Quorum blockchain.
High-speed private blockchains that support EVM can provide up to 300 transactions per second (TPS). The main Ethereum network gives 15 TPS. At the same time, according to the developers of ConsenSys Rollups actually has a bandwidth of 10,000 TPS.
According to ConsenSys, Rollups refers to corporate solutions, and therefore it is suitable to create public cryptocurrencies and decentralized exchanges, conduct micropayments and private financial transactions.
In November 2021, the number of holders of the popular MetaMask wallet, the creator of which is ConsenSys, exceeded 21 million people.