Espresso is building a marketplace for shared sequencing, enhancing interoperability among Layer 2 rollups.
After raising $30 million during a Series A round in 2022 and $2 million in seed funding in 2020, the latest round brings Espresso’s total funds to over $60 million. The firm did not disclose its latest valuation.
Espresso is building a marketplace for shared sequencing, allowing rollups to auction the rights to build their blocks. According to Espresso, this setup facilitates interoperability among rollups and offers opportunities for various stakeholders, including Layer 1 block proposers , to participate. Espresso is creating a marketplace that enables rollups to designate a default sequencer and establish a minimum price for transferring sequencing rights from the default sequencer to an external entity. If rollups prefer not to manage sequencing, the marketplace can manage it on their behalf, Fisch explained.
In the end, Espresso aims to enable rollup users to gain the experience of being on one Ethereum chain with improved composability. All this while turning their project into a decentralized marketplace for shared sequencing that preserves the sovereignty and value capture of individual rollups, according to the project.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
43 Problem-Solving Products Reviewers Say Are Worth ItIncluding a $28 item that saved one reviewer from buying a new $1,000 vanity.
Read more »
A '$28 trillion opportunity': Ark Invest reveals its top AI plays right nowArk Invest's Tasha Keeney names her favorite sectors to play the AI boom, including one she described as 'very hot.'
Read more »
Widow of Brooklyn subway shooting victim sues MTA for $28 million over leaked crime scene photosThe widow of a man fatally shot on a Brooklyn subway train in January is suing the MTA for $28.5 million, claiming she was caused emotional distress after MTA
Read more »
Poway Unified facing $28 million budget shortfall, will avoid layoffsJeff Lasky is an award-seeking journalist and the ultimate 'utility player' for ABC 10News in San Diego.
Read more »
Web3 Base Layer Mystiko.Network Completed a $18 Million Seed Funding RoundCrypto Blog
Read more »
Future Of Gaming: Playnance Introduces PlayBlock Layer-3 On Arbitrum With Gelato RaaSPlayBlock, a new Orbit Layer-3, is poised to onboard over ten thousand daily active users to its growing ecosystem of web3 games from decentralized trading.
Read more »