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New Cosmos and Mastercard projects will increase Ethereum scalability

New Cosmos and Mastercard projects will increase Ethereum scalability

As Ethereum usage reaches record levels, “bridge” Cosmos to other blockchains and Mastercard rollovers are designed to solve a major problem facing the Ethereum network, Forkast reports.

While the blockchain industry awaits the launch of Ethereum 2.0, two developments were announced this week to help develop the world's second-largest blockchain that improves scalability and expands the network's use cases. Consensys – a major developer of software for Ethereum – is teaming up with payments giant Mastercard to launch Consensys Rollups to improve the scalability of the Ethereum blockchain for its core network and private use. Meanwhile, Consensys is also launching Gravity Bridge – a bridge between Ethereum and the Cosmos ecosystem that will connect Ethereum with other blockchains. The bridge will also create new betting opportunities, which will provide greater liquidity as more and more assets can pass through more and more connected chains. Described as the “internet of blockchains”, Cosmos is a decentralized network of independent but interoperable blockchains that can exchange tokens and information seamlessly. Cosmos also seeks to address scalability – along with usage and management – by helping developers create independent blockchains for different use cases that can interact with each other. Ethereum usage is at an all-time high, as individual wallet addresses recently passed the 181 million mark, according to EtherScan. As Ethereum grows in popularity, this leads to network congestion, transaction delays and higher gas fees – the cost of conducting transactions on the network. While some changes, such as token burning, were made ahead of the launch of Eth 2.0 to address these issues, many companies are working on various Layer 2 solutions to improve the existing Ethereum network.  

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