As a seasoned researcher with a penchant for blockchain technology and its intricacies, I must admit that the launch of Espresso’s confirmation layer on mainnet is indeed an exciting development. Having closely followed the evolution of cross-chain composability projects, I can attest to the potential this project holds in making Ethereum more composable again.
The blockchain initiative called Espresso, which emphasizes cross-chain compatibility and has the backing of venture capital firm Andreessen Horowitz, has declared that their confirmation layer is now operational on the main network.
The project is now being initiated, coming after two years of dedicated research and development, five test phases, and strategic integration plans with over twenty different chains. This notable step forward signifies substantial advancement for the team as they strive to restore Ethereum (ETH) to its original composable state, according to Espresso Systems’ official statement.
Espresso highlights that its confirmation layer facilitates swift and dependable interaction between various chains, enabling rollups to attain simultaneous compatibility. This layer serves as a foundation for chains to verify one another’s state changes by examining each other’s transaction details. In simpler terms, the confirmation layer allows two interoperable chains to confirm their respective actions through shared transaction data.
To ensure synchronous compatibility, chains require a common reference point where they can swiftly and confidently verify each other’s state changes, as explained by Espresso.
As reported by the Espresso team, various ecosystem collaborators are ready to incorporate the confirmation layer. These collaborators encompass bridge services, blockchain networks, platform providers for stacks, and Rollups-on-demand services, also recognized as RaaS platforms.
Among our specific associates, you’ll find the Cartesi platform, a Linux-based rollups system, the modular zero-knowledge chain stack Airchains, and OffChain Labs, the creators of Arbitrum. Furthermore, we collaborate with Across Protocol, a bridge platform, and AltLayer, a provider of resources as a service (RaaS).
Espresso intends to introduce its main network incrementally, by progressively adding functions, welcoming initial partners, and ultimately transferring control of nodes to a diverse group of operators. A timeline detailing the key elements expected to be launched throughout 2025 has been established.
The Espresso team raised $28 million in a series B round in March, led by VC platform a16z Crypto.
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2024-11-11 19:04