Espresso is one of the leading projects working on"shared sequencing." The project relies on permissionless network nodes.
Andreessen Horowitz's a16z Crypto is viewed as one of the top venture capital firms. Polygon Labs was also an investor.in the emerging blockchain field of"shared sequencing," has raised $28 million in a series B round led by venture capital firm Andreessen Horowitz's a16z Crypto, according to a press release seen by CoinDesk.
The investment round closed in February, and the funding will be used to continue to build out Espresso’s products, invest in the broader rollup ecosystem, and hire additional people for Espresso.and batching transactions made on layer-2 blockchains and then sending them back to a layer 1 chain like Ethereum to be settled.
Espresso’s main product is the shared sequencer, but beyond that the company is building out a marketplace for shared sequencing “where rollups can sell the right to build their blocks to proposers who bid for these rights,” according to the press release. “Proposers can also bid on multiple rollup blocks, which would see them act as a shared proposer for multiple chains at once.”
Espresso is currently on its fifth iteration of testnet, and will hit mainnet later this year, Fisch shared with CoinDesk in an email.in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.