Espresso Network launched its ESP token and conducted a community airdrop.
Coindesk recently reported that Espresso will distribute 10 percent of its total supply to early participants and users of Espresso-integrated rollups. The network plans to switch to a permissionless proof-of-stake (PoS) model within weeks.
Espresso is a network designed to support layer2 blockchains and is highlighting its block finality speed as a strength that differentiates it from Ethereum. CEO Ben Fish (벤 피쉬) said the ESP token is key to network security and protocol participation. He said he aims to expand the community by rewarding early participants.
Espresso operates as a sequencing and finality layer for rollups and is focused on supporting layer2 rather than competing with existing layer1s. Its average block finality time is currently 6 seconds, much faster than Ethereum's 12 minutes. Fish said fast block finality is essential for scaling rollups. He said Espresso will remain technically necessary even if Ethereum revises its layer2-focused roadmap.
Chi-gyu Hwang
delight@d-today.co.kr