Espresso Systems is developing layer 1, or base blockchain, infrastructure to deliver fast, low-fee transactions by integrating a proof-of-stake consensus protocol with a zero-knowledge (zk) rollup mechanism that can bundle multiple transactions in a more resource-efficient way.
Seed Round: $32 Million
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What is Espresso Systems
High costs and limited privacy functionality are pain points for Web3 users today and represent major barriers for the next waves of adoption and innovation. Soaring fees render many of today’s most popular decentralized applications inaccessible for large numbers of would-be consumers. Similarly, the fully transparent nature of most blockchain systems leave their applications unsuitable for any users that harbor sensitivities around their data. At Espresso Systems, we are building the scaling and privacy solutions that will unlock new possibilities for Web3 applications and usher in the next generation of users.
Espresso Systems is developing Espresso: a layer 1 blockchain system that combines proof-of-stake consensus and a ZK-Rollup mechanism to achieve high throughput and low fees. Espresso has also developed Configurable Asset Privacy for Ethereum (CAPE), an application that can run on any EVM blockchain (and will eventually run on Espresso natively). CAPE enables asset creators to offer users customized privacy guarantees.
Use CAPE to create new Ethereum assets and wrap existing tokens to have the privacy properties you require.
- Configurable privacy
- Custom policies
- Shared data
DetailsRaised: 32,000,000 USD
LegalRegistration year: 2022