30s Summary

Espresso, a blockchain project, has launched its confirmation layer, an integral element of auxiliary networks or ‘rollups’, promising faster and more cost-effective transactions. The technology helps ensure trust and readability between networks. The feature makes asset transfers between networks quicker, enables a decentralized sequencer, and means significant transactional data can be stored cost-effectively. Espresso will integrate the confirmation layer with major rollups in the layer-2 field, having raised $28m in a funding round in March. The firm’s future focus will be on research and development associated with composability and sequencing.

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Espresso, a blockchain project that assists with transactions across different chains, announced that its main product known as the confirmation layer is now live. This confirmation layer is integral to the functionality of rollups, or auxiliary networks, as it offers faster and cost-effective transactions. Specifically, the confirmation layer helps two networks to trust and read each other’s data blocks.

The launch of Espresso’s confirmation layer means that transferring assets between networks can be faster. It also leads to a decentralized sequencer, a crucial part of layer-2 blockchains, and allows networks to store loads of transactional data cost-effectively.

A sequencer is important in rollups as it bundles up transactions from users of the layer 2 so they can be recorded on the layer 1, which is Ethereum in this case. Although the confirmation layer improves the sequencer’s security while also making bridging faster and cheaper, there is a possible security risk in the sequencer. Therefore, the confirmation layer ensures that whatever was published to it has to be what is eventually published and settled on the L1.

In other words, the confirmation layer verifies the honesty of the sequencer to be secure. In the future, the confirmation layer will start integrating with major rollups in the layer-2 space like Arbitrum’s Nitro stack, Optimism’s OP stack, and Polygon’s chain development kit.

Earlier in March, Espresso raised $28 million in a funding round to further develop its products and help with research. Leading venture capital firm, Andreessen Horowitz’s A16Z Crypto, led the Series B round with contributions from many developer firms behind leading layer-2 rollups like Arbitrum, Starknet, and Polygon. Alongside the confirmation layer, Espresso will concentrate its research and development efforts on composability and sequencing.