NEAR Foundation and Eigen Labs partner to enable faster, cheaper Web3 transactions for Ethereum rollups via EigenLayer.
The Near Foundation and Eigen Labs have announced a collaboration that might greatly improve Ethereum rollups’ usability and effectiveness. Together, Eigen Labs, the developers of the restaking protocol Eigen Layer, and the Near Foundation, the designers of the Near protocol, will tackle some of the present issues facing the Ethereum (ETH) ecosystem.
This collaboration’s primary goal is to speed up and lower the cost of Ethereum rollup transactions. According to official statements, the alliance is expected to achieve three-to four-second transaction times, which is a significant improvement over current norms.
This effort also seeks to lessen liquidity fragmentation between various Layer 2 solutions by enabling low-latency communication among rollups. The Near-Ethereum Rainbow Bridge is a trustless, permissionless, decentralized bridge that enables users to move assets and data between Ethereum and NEAR.
One of the main goals of this partnership is to improve it by moving it to an actively validated service. With speedier transaction finality, increased security, and enhanced decentralization promised by this update, linking the Near and Ethereum blockchains more smoothly will be possible.
Eigen Labs sees this partnership as a chance to show off the benefits of restaking in cross-rollup transactions and emphasize its potential adoption outside of the Ethereum ecosystem and within it.
The collaboration also supports Near’s continuous goal of improving efficiency and accessibility on the open web. Eigen Layer enables ETH to be restaked and consensus layer modifications to be made without requiring a new blockchain.
