Espresso Systems Raises $32M to Bring Scaling and Privacy to Web 3 (1 minute read)
Espresso Systems is a startup that plans to develop a layer 1 blockchain to deliver fast, low-fee transactions. It will integrate a proof-of-stake consensus protocol with a zero-knowledge rollup mechanism that can bundle multiple transactions efficiently. The blockchain will allow developers and asset issuers to build fast, private, and compliant stablecoins, accessible NFTs, and efficient DeFi applications. It will feature a smart contract application intended to offer customizable privacy. Espresso recently raised $32 million in funding from Greylock Partners, Electric Capital, Sequoia Capital, Blockchain Capital, and Slow Ventures.