With the debut of its ESP token, Espresso Network is giving away 10% of the whole supply through a community airdrop that has been fully unlocked. The project will switch to a permissionless proof-of-stake approach, and the token will support both staking and network security.
Espresso helps rollups expedite transaction confirmation by acting as a coordination and finality layer. In contrast to the substantially lengthier confirmation windows on Ethereum’s base layer, the network now completes rollup blocks in an average of six seconds.
The debut coincides with a discussion concerning the future function of layer-2 networks inside the Ethereum ecosystem. The leadership of Espresso contends that when liquidity and applications disperse over several rollups, quicker finality is crucial.
Espresso is placing a wager that the need for blockchain technologies that are both scalable and interoperable will only increase.
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