Focusing on the “Shared Sorter” Proposition! Espresso Secures $28 Million Series B Funding Led by a16z crypto

Focusing on the "Shared Sorter" Proposition! Espresso Secures $28 Million Series B Funding Led by a16z crypto

Focusing on the "Shared Sorter" Proposition! Espresso Secures $28 Million Series B Funding Led by a16z crypto

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Espresso or a16z crypto investment
Introduction to the Espresso project
Espresso Systems, a foundational infrastructure solution for L2 Rollup, announced the completion of its $28 million Series B funding led by a16z crypto. The project had previously raised $2 million in seed funding in 2020 and $30 million in Series A funding in 2022. The latest funding round brings Espresso’s total funding to over $60 million, but the company has not disclosed its latest valuation.
Espresso aims to build infrastructure for Rollup networks, and its main product currently is the “Shared Sequencer Market,” which allows Rollup builders to auction off the right to build their blocks.
A “sequencer” is the infrastructure used by Rollup networks to order transactions, and the “shared sequencer” refers to a party or protocol that can generate blocks for multiple Rollups simultaneously. In the shared sequencer market built by Espresso, the market enables Rollups to sell the right to order transactions to third-party bidders in time slots. CEO Ben Fisch stated:
According to Espresso, this setup promotes interoperability between Rollups and provides opportunities for various stakeholders, including L1 block proposers (such as Proposers on Ethereum), to participate. CEO Ben Fisch stated:
In addition, Espresso has integrated a transaction finality tool called HotShot, which ensures that blocks can reach finality quickly. In other words, HotShot serves as the consensus protocol for the Espresso shared sequencer ecosystem.