Stanford researchers raise $32 million as they build a privacy-focused blockchain by Anu__Dave
The goal is to bring to market a layer-one blockchain with lower gas fees, higher throughput, with user privacy and decentralization.Collaborators at Stanford University have raised $32 million in funding for Espresso, a new layer-one blockchain focused on privacy and decentralization.
The company behind Espresso, called Espresso Systems, is led by four co-founders. The latest funding round was led by Greylock Partners and Electric Capital with participation from Sequoia Capital, Blockchain Capital, and Slow Ventures. Espresso aims to change that, by using zero-knowledge proofs, which allow a party to prove that a statement is true without showing the evidence behind it, said CEO Ben Fisch to. Espresso uses ZK-Rollups to achieve greater throughput by consolidating transactions into a single proof.
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