Espresso Systems: Abbreviated Introduction
Espresso Systems is focused on bringing Web3 applications like decentralized finance, NFTs, and DAOs to the mainstream by making them cheaper, more robust, and more private for users.
Espresso Systems has developed the Configurable Asset Privacy (CAP) Protocol, which enables digital assets to have customized privacy properties. The first application of CAP is CAPE (Configurable Asset Privacy for Ethereum), a smart contract application currently implemented on Arbitrum’s Goerli testnet. With CAPE, asset creators can create brand new assets on CAPE (domestic CAPE assets) or sponsor wrappers to give existing ERC-20 assets privacy features. CAPE has been live for six months on Ethereum Testnets and has seen over 45,000 addresses created, supporting over 300,000 actions and transactions.
As a layer-1 blockchain, Espresso has its own consensus protocol. HotShot is a BFT consensus protocol based off of HotStuff, with the addition of Proof-of-Stake (PoS) and Verifiable Random Function (VRF) committee elections. Espresso’s use cases include, but are not limited to:
- Configurable privacy: Addresses, asset types, transaction amounts, and credentials can be hidden.
- Custom policies: Asset creators can define policies and programs around the assets they mint or move over from Ethereum.
- Shared data: Viewing keys can be customized to reveal any combination of transaction details relating to sender and recipient addresses, input and output amounts, and identity attestations.
Espresso Systems is registered as Translucence Research Inc., based in Delaware, United States.
The project boasts a team of more than 25 people spanning four continents and aggregates engineers, builders, designers, and researchers. Espresso Systems has raised $35.1 million and is exploring integration with the zkSync ecosystem.
A large community of early supporters follows the project on social media.
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