What is Espresso (ESP)?
Espresso (ESP) is the native token of the Espresso Network, a blockchain infrastructure protocol designed to support rollups and application-specific chains. The network functions as a decentralized consensus layer that confirms rollup blocks within seconds. It provides transaction ordering and data availability without directly executing transactions.
The Espresso Network operates as a base layer focused on shared sequencing and cross-chain coordination. It is built to reduce fragmentation across blockchain ecosystems by enabling communication between chains. This structure allows rollups and connected networks to access unified liquidity and support cross-chain payments and other interoperability use cases.
The protocol is based on research aimed at improving transaction confirmation speed in decentralized environments. It introduced HotShot, an open-source proof-of-stake consensus protocol derived from HotStuff, and verifiable information dispersal (VID), a method designed to improve scalable data availability. The network currently supports throughput exceeding 5 MB per second with transaction finality achieved in seconds. Future upgrades are planned to increase throughput to 25 MB per second and reduce finality times further.
The ESP token is used within the network to support its consensus and coordination mechanisms. As a proof-of-stake system, the token plays a role in validator participation and network security.
Espresso Network was developed by the team at Espresso Systems, consisting of contributors including developers, researchers, and designers. The project has received funding from investors such as a16z, Greylock Partners, Electric Capital, Sequoia Capital, and Polychain Capital.
The total supply of ESP is 3.59 billion tokens, with approximately 520.55 million tokens currently in circulation.
Espresso (ESP) is listed on finance for trade and purchase. The current price of Espresso (ESP) is available and updated in real time on Binance.