Essential is developing a declarative layer-2 blockchain that operates as an optimistic rollup on Ethereum, allowing developers to create applications without the need for execution. This approach eliminates failed transactions and maximizes user outcomes by leveraging constraints to optimize state updates and protect against miner extractable value (MEV).
Funding
$17.8M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
AFounders
Product
Problem
Current imperative blockchain systems often result in suboptimal user outcomes due to intermediaries incentivized to prioritize their own interests. Users face challenges such as failed transactions, miner extractable value (MEV), and fragmented liquidity.
Solution
Essential is a declarative layer-2 blockchain, operating as an optimistic rollup on Ethereum, designed to optimize user outcomes. By leveraging constraints to remove the need for execution, Essential enables developers to build scalable applications that prioritize the best possible results for users. This approach eliminates failed transactions and protects against MEV, ensuring a more efficient and user-centric experience. The declarative design expands the complexity and scope of applications while simplifying secure code development.
Target Audience
The primary audience includes Web3 developers seeking to build scalable applications with improved user experiences and security, as well as users of decentralized applications looking for more reliable and efficient transactions.
Features
- Declarative blockchain architecture leveraging constraints for state updates without execution.
- Optimistic rollup on Ethereum for enhanced scalability.
- "Pint": A constraint-based domain-specific language (DSL) for programmable intents.
- Solver network competing to provide optimal solutions to user-submitted intents.
- Native account abstraction.