ESPRESSO IS A NEW WORLD OF POSSIBILITY FOR Web3 APPS

2 min readMar 14, 2022

Hello everyone, today I would like to dedicate my review to the technically advanced Espresso project, which is a high-performance EVM (Ethereum Virtual Machine) compatible blockchain capable of providing low fees, high throughput and customizable privacy for Web3 applications.

That is, thanks to the decentralized Espresso platform, developers will be able to easily scale their Ethereum applications due to the compatibility of Espresso with the EVM.

And Espresso’s customizable privacy will allow developers to create digital assets and decentralized applications that provide strong data protection to their users.

Before encountering the Espresso ecosystem, Web3 app developers had to choose between scalability and decentralization, i.e., whether their apps would be completely anonymous or completely open. And that’s exactly what Espresso solves by opening up access to limitless possibilities for Web3 applications.

It is important to note that Espresso is a Layer 1 blockchain that combines the Proof-of-Stake consensus and the ZK-Rollup mechanism. This is what allows for high throughput and low fees.

Moreover, the Espresso team developed the Configurable Asset Privacy for Ethereum (CAPE) smart contract application, which is capable of working on any EVM blockchain and in the future on Espresso as well. With the CAPE app, digital asset creators can provide their users with better privacy settings.

In more detail, asset creators will be able to configure privacy settings for the following data:

● Amount of asset sent, received and held

● Sender and recipient addresses

● Type of asset being sent, received and held

Moreover, the CAPE application can be used both to create completely new digital assets and to wrap assets that already exist in Ethereum.

By the way, anyone can get acquainted with CAPE by following this link https://github.com/EspressoSystems.

The Espresso team plans to launch the CAPE app soon on the Ethereum Rinkeby testnet for demonstration purposes, and then on Espresso, enabling interaction with Ethereum assets through the bridge.

Importantly, Espresso was able to raise $32 million. The project is backed by large investment funds, among which are Greylock Partners, Electric Capital with the participation of Sequoia Capital, Blockchain Capital, Slow Ventures, Polychain Capital, Alameda Research, Coinbase Ventures, Gemini Frontier Fund, Paxos, and Terraform Labs.

You can find more detailed information about the project by clicking on the links indicated in the description of this article.

Bye everyone, see you soon!