Espresso is a project designed to increase transaction speed and efficiency in blockchain networks like Ethereum. It uses a combination of ZK-Rollup, a Layer 2 scaling solution, and a proof-of-stake consensus protocol.
What is Espresso Systems
Here's how it works:
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Improving Transactions: The main aim is to handle more transactions quickly, enhancing the network's capacity.
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Decentralized Data Availability: Espresso focuses on ensuring that data needed for new transactions is easily accessible, balancing scalability without sacrificing decentralization.
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Unique Approach: It uniquely integrates ZK-Rollup directly with the consensus protocol, improving information flow and transactions without the typical limitations of other rollup solutions.
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User Transaction Submission: Users send transactions to a rollup server.
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Sequencer Node Involvement: The server forwards the transaction to a sequencer node, which includes it in a new block.
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Block Creation and Broadcast: The sequencer node then broadcasts this block to subscribers, including a rollup node.
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Execution and Proof Generation: The rollup node processes transactions and, for ZK rollups, generates a proof of correct execution.
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Layer 1 (L1) Interaction:
- The rollup node sends the updated state to L1.
- For ZK rollups, it includes a validity proof, while optimistic rollups allow for fraud proofs.
- The L1 rollup contract verifies proofs and ensures the update matches the correct block.
In summary, Espresso provides a structured, efficient process for handling blockchain transactions. It focuses on scalability while maintaining the security and integrity of the system.
Team of Espresso Systems
Funding of Espresso Systems
$28,000,000
Series B
Led by a16z. Other investors were Treasure, Taiko Labs, Synonym Finance, StarkWare Industries, Stackr Labs, Spire, Socket, Side Protocol, Rarible, Polygon and 24 more investors.
$32,000,000
Seed Round
Led by Electric Capital and Greylock. Other investors were Slow Ventures, Sequoia Capital and Blockchain Capital.
$3,100,000
Seed Round
Led by Polychain Capital. Other investors were Terra, Paxos, Meltem Demirors, Gemini Frontier Fund, Coinbase Ventures, Balaji Srinivasan and Alameda Research.
Espresso Systems review
Pros
High Scalability
Aggregates transactions for increased processing speed and improved network performance.
Cost Efficiency
Boosts throughput, reducing the cost per transaction.
Decentralized Data
Maintains decentralization in data availability for transaction construction.
Layer 1 Security
Commitments in L1 ensure security against fraudulent transactions.
Cons
Technical Complexity
Adds complexity to the blockchain, requiring careful implementation and testing.
Proof Generation Load
Computationally intensive, especially for complex transactions.
Consensus Challenges
Requires coordination among nodes, introducing potential overhead and failure points.
Opportunities
AirdropTestnet
Minimal cost: Free
Espresso Systems
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