Espresso Systems, a blockchain infrastructure project, has successfully raised $28 million in its Series B funding round, with investment giant Andreessen Horowitz (a16z) leading the way. The project’s main goal is to enhance interoperability between Ethereum rollups by creating a marketplace where rollups can sell the rights to construct their blocks to interested parties.

Rollups, which are solutions that execute transactions outside of Ethereum’s blockchain but still record the transactional data, are a key focus for Espresso Systems. In their recent Series B round, the project received support from various entities, including Polygon, Taiko, o1Labs, StarkWare, Offchain Labs, and strategic investors from over 30 ecosystem projects. Prior to this, Espresso had already secured $32 million from a seed round in 2020 and an Early Stage VC round in 2022.

The company expressed its gratitude for the additional funding, stating that it will allow them to continue product development and make significant investments in the broader rollup ecosystem. The ultimate goal is to establish Espresso as a fully decentralized and impartial public good for all layer 2 solutions, ranging from basic rollups to validiums. To achieve this, Espresso plans to aggressively expand its team through new hires and broaden its efforts.

There are two primary types of rollups: optimistic and ZK. Optimistic rollups operate on the assumption that transactions are valid, while ZK rollups perform computations off the chain and subsequently submit a validity report. Espresso’s marketplace enables proposers to bid on multiple rollup blocks, allowing them to become shared proposers for multiple chains simultaneously. This feature greatly facilitates cross-chain activity.

In conclusion, Espresso Systems’ successful funding round, led by Andreessen Horowitz, has provided the project with the necessary resources to further develop its blockchain infrastructure and enhance interoperability between Ethereum rollups. With the support of various investors and strategic partners, Espresso is well-positioned to achieve its vision of becoming a fully decentralized and impartial public good for layer 2 solutions.