What Is Espresso (ESP)?

Key Takeaways

Espresso is a decentralized network designed to organize and order transactions across multiple Layer 2 (L2) blockchains at the same time.

Typically, Layer 2 blockchains act like separate islands, with fragmented liquidity and centralized sequencing. Espresso works as a unified layer for ordering transactions, essentially building bridges between these islands.

The $ESP token is used to secure the network (via staking) and allows holders to vote on future updates.

Introduction

Ethereum is one of the most popular places for crypto apps, but it used to be slow and expensive at times. To fix this, developers created "Layer 2" blockchains (also known as rollups). These are like fast lanes built on top of #Ethereum to handle heavy traffic.

However, there is a new problem: these fast lanes don't talk to each other. If you have money on one Layer 2 (like #Arbitrum ), it is hard to use it on another (like #Optimism ). Also, most of these chains rely on a single computer (a centralized sequencer) to order transactions, which can be a security risk.