The Near Foundation and Eigen Labs have partnered to enhance Ethereum rollups, aiming to improve transaction efficiency and reduce costs. The collaboration between the Near Foundation, known for developing the Near protocol, and Eigen Labs, the creators of the restaking protocol Eigen Layer, aims to address challenges in the Ethereum ecosystem.
The core objective of the partnership is to reduce transaction costs and increase transaction speed on Ethereum rollups. The collaboration aims to achieve transaction times of three-to-four seconds, a significant improvement from current standards. Additionally, the initiative aims to facilitate low-latency communication across rollups, reducing liquidity fragmentation between Layer 2 solutions.
A key aspect of the partnership is the enhancement of the Near-Ethereum Rainbow Bridge, transitioning it to an actively validated service. This upgrade promises faster transaction finality, improved security, and increased decentralization, providing users with a seamless bridging experience between the Near and Ethereum blockchains.
The partnership also allows Eigen Labs to demonstrate the utility of restaking in cross-rollup transactions, potentially extending its adoption beyond the Ethereum ecosystem. The collaboration aligns with Near’s objective to make the open web more accessible and efficient.
Eigen Layer enables the restaking of ETH and adjustments within the consensus layer without the need for a new blockchain.