Offchain Labs announced the appointment of Ira Auerbach as the head of its collaborative studio and venture capital department, Tandem.

With their Mainnet launch 0 last Monday, @EspressoSys's vision to safeguard against silos is well on its way. Join us and Espresso Systems in the Infinite Garden. https://t.co/tROGcNcuiG

Layer 2 alleviates the pressure on the Ethereum mainnet by executing tasks off-chain while submitting transactions to the mainnet for verification to inherit its security. In this process, sorters are responsible for the critical transaction ordering. Currently, most Layer 2 solutions commonly use centralized sorters, which, while advantageous in efficiency and simplicity, pose risks of single points of failure and manipulation, undermining decentralization and affecting user fairness. As a result, decentralized sorters are gradually becoming a trend. On November 11, Espresso Systems launched the Espresso mainnet, with the core feature of utilizing its decentralized sorter to accomplish ordering confirmation work for different blockchains and applications.The "Market Trend Insights" column launched by @Web3Caff_Res this issue focuses on the theme【What imaginative spaces and development resistances will arise after the global confirmation layer Espresso launches its mainnet?】 and will provide in-depth analysis and commentary for PRO subscribers 🔻 https://t.co/4f8HcJVlnK

AI infrastructure company PIN AI has completed a $10 million Pre-Seed funding round, with participation from a16z CSX and others.

DWF Ventures: Based rollups can alleviate the fragmentation issue of Layer 2, with major protocols making positive progress.

Frequently Asked Questions about Espresso Systems @EspressoSys have been translated into Japanese and published! 🥳 ☕️ What is Espresso? ☕️ Is it true that it is not a shared sequencer? ☕️ What is the Espresso marketplace? ☕️ Tokens? It includes a summary of the basic information about Espresso, so be sure to check it out! 💃 https://t.co/BCyQyyPAb3

Does modularity really matter? 🤔 Modular blockchain designs break web3 networks into distinct, interchangeable components - allowing specialized providers to emerge in each area. This approach enhances vertical/horizontal scaling, design flexibility, and adaptability to evolving tech and ideas. The success of rollups and web3 apps depends on the competitive advantages of its chosen modular stack. And increasingly, emerging web3 projects are leveraging modular systems to improve areas such as data availability (using infra like @CelestiaOrg), sequencing (using infra like @EspressoSys) and base layers like @horizenglobal. Where does zkVerify fit into all of this? 👀 zkVerify is a dedicated modular blockchain for zk proofs verification. The #zkVerify network verifies a range of zero-knowledge proofs used by a growing list of zk apps in a fast, efficient, and cost-effective manner. By drastically reducing cost and offering zk proofs verification on multiple chains, zkVerify is empowering web3 networks and dApps to scale zk economies. In the past month, zkVerify has integrated with ApeChain (@apecoin) and added verifiers for Groth16 and @RiscZero. Get started today with zkVerify ⚪ Docs 👉 https://t.co/JQBfLBODT9 Github 👉 https://t.co/eZsh5kXIVX Blog 👉 https://t.co/m2OFaWtDS6

[1/2 Thread]Let's delve into @EspressoSys - The Anatomy of Decentralized Sequencers.Special thank to @jillrgunter and Espresso team who helped us to review .1/Centralized Sequencer Layer 2 solutions, such as rollups, can be considered modular blockchains because they function as independent off-chain execution engines for Ethereum. They delegate less intensive tasks like state checkpointing, consensus, and data availability to Ethereum. These functions are essential for ensuring the decentralization and security of the rollups.2/However, rollups face challenges with composability and interoperability, even though most of them use the same base layer by checkpointing their state on Ethereum. The main reason for this problem is simple: each rollup is operated by its own centralized sequencer, making it hard for different rollups to trust each other's intermediate states. This means if L2-L2 interactions are needed, they must rely on a third party to provide soft commitments, like bridge providers, or worse, wait for finality from Ethereum.3/Centralized sequencers also lead to:1.Centralization: Rather than waiting for the finality of their rollup states on Ethereum, users may choose to trust the state provided by the rollup operator. This requires significant trust, as only one operator maintains the rollup in a centralized sequencer. Additionally, large-scale MEV (Miner Extractable Value) is possible if one sequencer has full control over transaction ordering.2.Single Point of Failure: The liveness of a rollup is guaranteed by its operator. If the operator goes offline, the rollup temporarily halts, which means user funds get locked on the rollup.3.Censorship Resistance: An operator can reject user transactions at will. Although solutions like escape hatches or force inclusion on layer 1 exist, they require complex operations on the user side and incur high layer 1 gas fees.These concerns contradict Ethereum's intention to be a permissionless platform open to everyone.4/Decentralized Shared SequencingA practical solution is to leverage a decentralized system that can enable shared sequencing—allowing many rollups to use the same sequencer for a given period of time. By having a mechanism for rollups to cooperate to sequence transactions, build blocks, and reach consensus on the underlying data, this coordination network can provide stronger soft finality than a centralized approach and faster finality compared to layer 1.Another key feature is composability. Since many rollups' blocks are (pre)confirmed by the same trusted layer, bridging and atomic operations can be carried out more seamlessly and efficiently than relying on third parties or settlement layers like Ethereum.5/ Espresso: the Coordination Layer for RollupsIn this article, we will explore a project that seeks to enable shared sequencing, Espresso Systems. Espresso aims to create a coordination layer for rollups that can achieve high throughput, support a large number of nodes, have low commit latency, and deliver Web2-like performance in an optimistic case.There are two components of Espresso that make this work: the Espresso Network and the Espresso Marketplace.6/Since rollups already handle off-chain execution tasks where the validity of execution results is guaranteed by fraud and validity proofs, a coordination layer like Espresso only needs to manage a relaxed version of a monolithic blockchain, focusing on ordering, consensus, and data availability. Espresso tackles this with the Espresso Network - a proof-of-stake consensus system run by a network of nodes and consisting of two modular components:1.HotShot Consensus: HotShot is a BFT protocol used in Espresso to reach consensus among nodes, determine a set of sequencers for rollups, and finalize proposed blocks. HotShot is an extended version of the HotStuff-2 consensus protocol. HotShot is designed to support the scale that rollup users are used to in the majority of network conditions, without compromising on decentralization.2.Tiramisu DA: Working alongside HotShot is Tiramisu, a highly efficient data availability layer that ensures data availability and retrievability for clients and the consensus layer. Tiramisu consists of three layers—Cocoa, Mascarpone, and Savoiardi—each contributing unique features that enable Espresso to achieve the best of both Web2 and Web3 worlds, being both decentralized and highly efficient.7/HotShot ConsensusHotShot is the consensus layer of the Espresso system, allowing nodes to agree on the Espresso state and playing three essential roles:1.- Ensuring that a quorum of nodes receives data chunks and a quorum of the DA committee receives full block data.2.- Providing a shared (pre) finality layer for all connected rollups and users.3.- Determining a set of shared sequencers for rollups.Notably, HotShot can achieve all of this without performing execution and data availability, as these tasks are delegated to rollup operators and Tiramisu, respectively. This leads to a more efficient system, with each stack operating concurrently and being separately optimized.8/Consensus and FinalityEspresso develops the consensus protocol called HotShot, an extended version of HotStuff-2 tailored to support proof of stake and fit Espresso's use cases. Given Espresso's aim to support thousands of nodes, finding a robust consensus protocol that maintains high performance with a large set of nodes is crucial. This is why HotStuff-2 is chosen, offering two main benefits:1. - - Linear Communication Complexity: HotStuff-2 relies on leader-centric communication, where a leader takes the main responsibility of accumulating votes from and distributing messages to every node. This leads to communication complexity growing linearly with the number of nodes in the network.2. - - Pipelining Compatibility: HotStuff-2 supports pipelining, allowing multiple blocks to be processed simultaneously in the same round but with different phases. For example, at round k+2, the k-th block is being committed while the k+2-th block is being proposed.***Readers can find the details of how HotStuff-2 works in our Monad article [https://t.co/13YFRl6B9p].9/Although the above discussion suggests that HotShot, based on HotStuff-2, is sufficient for achieving high throughput and scalability, it is not entirely enough. Since HotShot must provide finality for multiple rollups, the data a leader handles and disseminates to other nodes can be very large, as a block must include transactions from all rollups. This can lead to efficiency degradation if a leader has to propagate a large block of transactions, even with linear communication complexity.If Espresso purely relies on HotShot, the communication complexity required for the network is equal to the size of a block (|B|) multiplied by the number of nodes (n), resulting in O(n|B|) complexity. Fortunately, Espresso introduces Tiramisu DA, which helps reduce the complexity down to just linear in the block size, O(|B|). We will further discuss this in the Tiramisu DA section.10/Tiramisu DAIn HotShot, if a leader were responsible for propagating a whole block to every node, it would result in high communication complexity of O(n|B|). Espresso introduces Tiramisu, a three-layered data availability solution composed of the Cocoa, Mascarpone, and Savoiardi layers, which helps reduce communication complexity down to O(|B|). These layers work together to achieve Web2-like performance in optimistic cases and can switch to more resilient layers in pessimistic cases, trading off some performance.*Let's delve into the details of each layer👇.11/The Top Layer: Cocoa - Web2-Like Performance LayerThis layer implements a centralized content distribution network (CDN) called Cocoa, which provides Web2-like performance to Tiramisu. The CDN is a powerful centralized hardware that facilitates message passing between the leader and other nodes in the network. To ensure data availability, the leader can upload an entire block to Cocoa, and anyone can request the block content from this centralized CDN. As a result, only O(|B|) communication is required for the leader to upload block data to Cocoa.It is important to note that Cocoa is not a trusted layer and doesn’t guarantee safety and liveness, as it is a centralized system. Cocoa is utilized solely for its efficiency. In the event that Cocoa is corrupted, under attack, or experiencing downtime, Espresso can switch to a more robust layer, Mascarpone.Espresso describes the Cocoa layer as an additional feature, akin to cocoa powder sprinkled on top of a Tiramisu dessert. While not essential for the dessert, it makes a Tiramisu look more appetizing. Similarly, in the Tiramisu DA system, the Cocoa layer adds an attractive feature, such as Web2 performance. However, Tiramisu can still guarantee data availability and function perfectly well without it.

🔜 Tomorrow's Kiln Restaking Rendez-Vous features @ellierdavidson, Systems Engineer at @EspressoSys! 🙌 Join us for a discussion on @EspressoSys, a shared sequencing marketplace and finality gadget connecting and optimizing layer-2 scaling solutions. 📥 Don't miss out! Subscribe now for weekly episodes delivered straight to your inbox: https://t.co/m7SO3L8FeZ

Andreessen Horowitz Raises $7.2 Billion for Venture Strategies, Eyes Crypto Investments

Exploring Shared Sequencers in L2 with Espresso's Ben Fisch

Upcoming Cryptocurrency Launches and Events in Q2 2024 According to LayerGG

本周WEB3项目融资活动概览：总额超2亿美元，多领域获投资

BIGGEST FUNDRAISING ROUNDS LAST WEEK 💰18 - 24 March1/ @SuccinctLabs secured $43.0M in Series A led by @paradigm Succinct is building a decentralized prover network so that anyone can build blockchain applications and infrastructure secured by cryptographic truth, not trust.2/ @EspressoSys secured $28.0M in Series B led by @a16zcrypto Espresso Systems is an EVM-compatible blockchain that provides scaling and privacy systems for Web 3 applications3/ @MorphL2 secured $20.0M in Seed led by @dragonfly_xyz Morph is a fully permissionless EVM L2 that uses a combination of optimistic and zero-knowledge rollup technology to enable a user-friendly option for developers who require a chain on which to build finance, gaming, social media, and entertainment apps.4/ @MystikoNetwork secured $18.0M in Seed led by @peakxvpartners Mystiko Network is the zero-knowledge technology (ZK) layer of Web3 which provides a universal ZK protocol and a ZK software development kit that features scalability, interoperability, and privacy all at once.5/ @TokenizeXchange secured $11.5M in Series A+Tokenize Xchange is a Singapore-headquartered digital asset exchange that enables the trading of digital assets in a safe and secure environment with competitive fees.6/ @MANTRA_Chain secured $11.0M in funding round led by @ShorooqPartners MANTRA aims to be the first RWA L1 blockchain capable of adherence and enforcement of real world regulatory requirements.7/ @rails_xyz secured $6.2M in Seed led by @slowRails is a self-custodial crypto exchange that leverages a centralized order book to drive optimal trade execution.8/ @KeyringNetwork secured $6.0M in Seed led by @GumiCryptos, @greenfield_cap Launched in 2022, Keyring equips financial service providers with permissioning tools for compliant transactions on-chain, powered by zero-knowledge privacy, allowing financial organisations to selectively connect with compliant counterparts.9/ @TanssiNetwork secured $6.0M in Strategic led by @KR1plc, @snzholding, @scytaledigitalTanssi Network is an appchain infrastructure protocol backed by Polkadot's shared security framework. With Tanssi's ContainerChain technology, devs can deploy chains more efficiently and securely and have more time to grow their user base and enhance their application.10/ @Sablier secured $4.5M in SeedSablier Finance is a cryptoasset streaming protocol, user can stream tokens by the second on Sablier.

Summary of Important News and Financing Events in the Financial and Cryptocurrency Fields This Week

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Espresso Systems announced it has received $28 million in funding led by a16z. Espresso Systems is the lead developer of Espresso, a shared sequencing marketplace for rollups. Shared sequencers can offer economically bonded promises to users, including atomic execution of transactions across rollups.