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.
Description
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 the Project
Funding
$28,000,000
$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
$32,000,000
Seed Round
Led by Electric Capital and Greylock. Other investors were Slow Ventures, Sequoia Capital and Blockchain Capital.
$3,100,000
$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.