Scroll: A zkEVM Layer 2 solution for Ethereum
Scroll allows users to conduct transactions fast and cost-effectively while maintaining Ethereum’s high level of security.
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Scroll is a zk-Rollup solution fully compatible with the EVM and designed to upscale the Ethereum network.
The Ethereum Virtual Machine (EVM) is a software environment that enables smart contracts execution on the Ethereum network. It allows computers to execute identical code to achieve network consensus and support the Ethereum ecosystem.
Technology principles
Scroll aims to provide an optimal experience for network developers and users, so it adheres to principles such as:
- Scalability
It utilizes an off-chain transaction processing approach, with compressed proofs of correctness published to the main Ethereum blockchain. This allows for increased throughput and reduced costs compared to Ethereum base level.
- EVM Compatibility
Developing on Scroll is similar to Ethereum's process, as any EVM-compatible smart contract can be deployed on the Scroll network without any hassle. In other words, developers in the Scroll ecosystem will have the power to unleash any dApp that works on Layer 1.
- Security
Scroll is committed to ensuring security through rigorous audits conducted by third-party experts. Transparency is one of the project's main priorities, so Scroll is working on creating an open platform in collaboration with the community.
The project is in its final stage of Alpha Testnet, which precedes its launch on the main network. The testing is open to anyone who wishes to participate, and there may be rewards in the form of a retroactive airdrop for those who do so. For further details on the testnet, click on the link provided. All interactions with the project are conducted on the test network. Users do not need to expend personal funds to cover transaction fees.
Pre Alpha Testnet had an impressive 100,000 users participating in the previous phase. The team is now gearing up for the launch of the main network, which is expected to happen in the next three to four months.
Scroll investors
The project has successfully secured three funding rounds, raising a total of $80 million from major investment funds such as Sequoia Capital China, Qiming Venture Partners, OKX Exchange, Polychain Capital, and more.
The latest funding round took place on March 6th, 2023 and amounted to $50 million.
Evaluation of the Twitter account of the project by Tweet Scout
Substantial number of followers on Twitter indicates that the project has popular influencers and funds among its subscribers. Large funds such as a16z, Paradigm, Delphi Digital, and Ethereum founder Vitalik Buterin, follow the project's Twitter account.
In conclusion
When it comes to attracting attention, this project isn't playing favorites – everyone's invited, from the casual user to the heavyweight investors. And with a new L2 solution in the works, the team's aiming for top-notch scalability, wallet-friendly transaction fees, and a seamless fit with EVM.
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