Espresso, Project for Composability Between Blockchains, Pushes Main Product Live
Espresso, a closely watched blockchain project to coordinate cross-chain transactions and interactions, shared Monday that its main product, known as the confirmation layer, has gone live.
According to the team, the confirmation layer will be a critical piece of infrastructure for composability among rollups, allowing for two networks to read and trust each other’s blocks of transaction data. A rollup is a type of auxiliary, or “layer-2,” network atop a main blockchain, providing a venue for cheaper and faster transactions.
00:56
Len Sassaman-Themed Memecoins Surge Ahead of HBO Bitcoin Creator Documentary
01:11
Private Transactions Surge on Ethereum
00:59
Many DeFi Protocols ‘Flagrantly Disregard’ Regulations: Gavin Wood
00:53
Gavin Wood on the Problem With Layer 1s
Specific benefits of Espresso’s new confirmation layer could include faster bridging of assets between networks, decentralizing a key component of layer-2 blockchains known as the “sequencer,” and providing a way for networks to stash reams of transactional data at a low cost, according to the project documentation.
“It’s literally a protocol for when a rollup sequencer publishes its blocks to, that once published on the confirmation layer, they can’t be changed, even when that chain later settles them to Ethereum,” Ben Fisch, CEO of Espresso Systems, said in an interview with CoinDesk.
Essentially, this takes on the role of a sequencer today, and adds some security to it. Sequencers are a crucial piece of infrastructure in rollups, bundling up transactions from users of the layer 2 so they can be recorded on the layer 1, in this case Ethereum.
“Optimism, for example, takes seven days to settle on Ethereum,” Fisch said. “The confirmation layer enforces that whatever was published to the confirmation layer has to be what is eventually published and settled on the L1. And that means that any node that’s reading from the conformation layer’s published blocks, can just execute them and know exactly what the state of the rollup is.”
Centralized sequencers
The issue with sequencers is that they are typically run by centralized entities, and pose as a single point of failure.
“As long as that sequencer is honest and doesn’t get hacked or compromised, you can just confirm your transactions. That’s actually how people use it primarily today – it just creates a massive security risk.” Fisch said. “So while users of the chain rely on it, bridge protocols and applications on other chains can’t. The more you create cross-chain dependencies on what a sequencer says, the more money a hacker can compromise.”
Not only does the confirmation layer add an extra level of security, but it also enables faster and cheaper bridging, according to the Espresso team. The composability of the confirmation layer creates interdependencies between rollups, allowing nodes to read the data and state of other rollups quickly, a press release stated.
Over time, the confirmation layer will begin to integrate with some of the major rollups in the layer-2 space, like Arbitrum’s nitro stack, Optimism’s OP stack and Polygon’s chain development kit.
In March, Espresso raised $28 million in funds to contribute to its products and help with research. The series B round was led by venture capital giant Andreessen Horowitz’s a16z Crypto and saw participation from many of the developer firms behind the leading layer-2 rollups like Arbitrum, Starknet and Polygon.
In addition to the confirmation layer, Espresso moving forward will focus its research and development in the field of composability and sequencing.
Edited by Bradley Keoun.
Disclosure
Please note that our
privacy policy,
terms of use,
cookies,
and
do not sell my personal information
have been updated
.
CoinDesk is an
award-winning
media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of
editorial policies.
CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.
Margaux Nijkerk reports on the Ethereum protocol and L2s. A graduate of Johns Hopkins and Emory universities, she has a masters in International Affairs & Economics. She holds a small amount of ETH and other altcoins.
Follow @cryptauxmargaux on Twitter