ConsenSys Partners with Mastercard to Boost Ethereum Scalability
Main page News, Mastercard, Ethereum, Blockchain-as-a-Service

ConsenSys, an Ethereum-focused blockchain company, has announced the launch of a new modular software solution called ConsenSys Rollups.

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The company said in an announcement, the initiative — supported by Mastercard's engineering team — helps enterprises with building permissioned blockchain applications focused on providing scalability and privacy capabilities that can be connected to any Ethereum Virtual Machine (EVM)-compatible blockchain.

"With these goals in mind, ConsenSys engaged Mastercard to co-develop key building blocks to make blockchain technology scalable on the Ethereum Mainnet or for private use," the company said.

ConsenSys says the solution can be used on both: the Ethereum Mainnet, or on private ConsenSys Quorum networks. Blockchain developers can now roll out new use-cases, including the ones for central bank digital currencies (CBDCs), decentralized exchanges (DEXs), micropayments, and so on. ConsenSys Rollups is compatible with all the ERC-20-based tokens.

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The move comes a few weeks after ConsenSys closed a $200 million financing round, bringing its total valuation up to $3.2 billion. Financial giants such as Marshall Wace, Third Point, ParaFi Capital, HSBC, and others participated in the funding. The New York-based firm said it was planning to use the proceeds to enhance the expansion of MetaMask and Infura's products as well as the addition of 400 new roles across its products and services.

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