Ethereum has the most vibrant ecosystem but it is congested and expensive. Scroll is a Layer 2 zkRollup solution using zero knowledge proof technology to scale Ethereum, making it cheaper and faster without compromising security and compatibility.
SCR is Scroll’s native utility and governance token, which is used in the following functions:
Governance: Will be live on day 1. SCR token holders are able to vote on governance decisions relating to the development of the Scroll protocol.
Future use cases: SCR will be a protocol token to decentralize prover, sequencer and coordinate innovations in the multichain world for a larger market. As well as used across the ecosystem for staking, gas free transactions and will be an anchor to coordinate incentives.
Scroll’s core tech breakthough is zkEVM and its hardware acceleration
Scroll builds the first zkEVM with zk team at the Ethereum foundation fully in the open, leveraging Halo2, an advanced proving system. It’s the most EVM-compatible zkEVM in the market.
Scroll proposed the first hardware accelerator for ZK called PipeZK, opening the market for zk hardware and built its own GPU zkEVM prover that can be 10x faster than CPU.
Scroll’s network consists of three layers:
Sequencing Layer: Contain an execution node and a rollup node. Execution node orders and executes transactions from users. Rollup node posts transaction data and validity proofs to Ethereum layer 1 for data availability and finality.
Proving Layer: Contain a coordinator and a pool of provers. The coordinator dispatches blocks to provers and relays proofs. The provers generate the zkEVM validity proofs for the correctness of L2 transactions.
Settlement Layer: Contain a bridge contract and a rollup contract. It provides ordering for the canonical Scroll chain, verifies validity proofs, and allows L1 L2 messaging between Ethereum and Scroll.
The transaction life cycle in the Scroll protocol contains the following three phases:
Confirmed: Users submits a transaction to either the L1 bridge contract or L2 sequencer. It’s usually within 3 second to confirm.
Committed: The transactions are included in a batch and are submitted to L1. Anyone can confirm through L1, usually within minutes.
Finalized: The validity proof of this batch is generated and verified on the L1. It will never revert. It usually takes tens of minutes.
As of October 10th 2024, the Scroll token (SCR) total supply will be 1,000,000,000. Upon formal launch of the SCR token, the initial circulating supply will be 190,000,000 (19.00% of the total token supply).
Key metrics (As at October 8th 2024)
1. What is Scroll?
1.1. Project Mission & Value Proposition?
Project mission:
Scroll’s mission is to bring billions of users into Ethereum’s ecosystem, be the most secure and trusted Layer 2 network to process trillions of dollars on-chain and the default place for new innovations.
Scroll’s vision is to provide egalitarian access to a global distributed network of applications and services to everyone, everywhere.
Value Proposition:
Scroll is the bytecode level equivalent zkEVM Layer-2 for Ethereum. Built with the Ethereum Foundation’s PSE team, Scroll is a developer friendly and ethereum aligned zk rollup live on the mainnet with a plan to decentralize provers and sequencers.
1.2 Project Key Highlights
Scroll Mainnet launch: Oct 2023
Scroll Protocol Technical Upgrade:
Implemented EIP-4844 data blobs for L1 data availability (done in April 2024).
Technical upgrades planned for rest of 2024 to further optimize performance and reduce gas fees.
August 2024 (Darwin upgrade): Aggregates finalization of multiple batches to reduce gas fee by 1.7x.
October 2024: More blobs in one L1 commit, upgrading zk libraries. Reduce gas fee by 1.5x.
Scroll Sessions: On-chain incentive mechanism
Launched Scroll Sessions in April 2024 and generated a massive uptick in TVL, solidifying position as #1 ZK chain by TVL (US$1.15Bn as of Sep 15, 2024), exceeding Linea, zkSync, Starknet, Taiko and Polygon zkEVM. See here.
Scroll has active and robust DeFi ecosystem:
Scroll Canvas: On-chain attestation
Launched Scroll Canvas in July 2024. Within 1 month of launch, Scroll became the #1 chain for EAS attestations (exceeding 3 million cumulative attestations), with 5.5x more attestation than the next closest chain (i.e. Base) and leading across Base, Optimism, Arbitrum, Linea, Polygon (as of Sep 26, 2024). See here and here.
Attestation is a way to track real users’ on-chain activities and to build up on-chain credentials and establish on-chain reputation. There is huge potential to apply on-chain attestation to real world use cases, including identity proof, KYC/AML, voting, governance, membership, collections and loyalty programmes, on-chain registries etc. and this is key to bringing millions of net new users on-chain.
1.3 Existing Products
Scroll Mainnet:
10x cheaper than Ethereum mainnet with higher throughput, the most EVM-compatible zkRollup with the most liquidity and highest uptime.
Monthly, weekly and daily metrics are available here.
Scroll SDK: Anyone can launch a new layer 2 through Scroll’s tech stack with customization and sovereignty.
Keystore: User can use smart contract wallet across any chain with a unified user experience.
2. Token sales and economics:
2.1 Token Distribution:
2.3 Token Release Schedule:
3. Roadmap & Updates:
3.1 Completed Milestones & Current Roadmap:
3.2 Commercial and Business Development Progress:
Aave (Announcement): Aave is an open source protocol to create non-custodial liquidity markets to earn interest on supplying and borrowing assets. Scroll is currently integrated with them.
Compound (Announcement): Compound is an algorithmic, autonomous interest rate protocol. Scroll is currently integrated with them.
Lido (Announcement): Lido is a non-custodial staking solution for Ethereum and other blockchains. Scroll is currently integrated with them.
Cobo (Announcement): Cobo provides secure custody solutions for digital assets to individuals and institutions. Scroll has an official chain integration with Cobo, to their custody service provider dashboard.
Trust Wallet (Announcement): Trust Wallet is a secure self-custody crypto wallet where users can buy and manage their cryptocurrencies. Scroll has partnered with them for a growth campaign.
StakeStone (Announcement): StakeStone is a cutting-edge omnichain liquidity asset protocol building an adaptive staking network for liquid ETH/BTC. Scroll is currently integrated with them.
EtherFi (Announcement): EtherFi is a decentralized, non-custodial delegated staking protocol built on the Ethereum network. Scroll is integrated with them, and they have launched a Visa ‘cash’ card on Scroll.
Ethena (Announcement): Ethena is a decentralized stablecoin protocol that offers a synthetic dollar called USDe. Scroll is currently integrated with them.
Alchemy (Announcement):Alchemy is one of the most popular developer tooling platforms. Their developer tooling is available on Scroll.
4. Community: