Near Foundation and Eigen Labs have partnered to enhance Ethereum rollups

The Near Foundation and Eigen Labs are teaming up to improve the efficiency of Ethereum rollups and reduce transaction costs.

The Near Foundation and Eigen Labs have announced a partnership that will significantly enhance the functionality and efficiency of Ethereum rollups. The Near Foundation, known for developing the Near protocol, and Eigen Labs, the creator of the restaking protocol Eigen Layer, are teaming up to solve some of the current challenges in the Ethereum (ETH) ecosystem.

The core goal of this partnership is to reduce the cost of Ethereum rollups and increase the speed of transactions. According to the official statement, the partnership will achieve a trading time of three to four seconds, which is a significant improvement over the current standard.

In addition, the initiative aims to facilitate low-latency communication across rollups, thereby reducing liquidity fragmentation between different Layer 2 solutions.

A key aspect of this collaboration is focused on enhancing the near-Ethereum Rainbow Bridge, a trustless, permissionless, and decentralized bridge that allows users to transfer assets and data between Ethereum and NEAR by transforming it into an actively validated service.

The upgrade promises faster transaction finalization, enhanced security, and improved decentralization, creating a more seamless bridging experience between the nearchain and Ethereum blockchains.

From Eigen Labs' perspective, this collaboration is an opportunity to demonstrate the utility of re-staking in cross-aggregated transactions, emphasizing its adoption not only within the Ethereum ecosystem, but also the potential to expand beyond other ecosystems. This partnership is also in line with Near's ongoing goal of making the open web more accessible and efficient.

Eigen Layer allows ETH to be re-staked and adjusted within the consensus layer without the need for a new blockchain.