SCROLL
Scroll Network
$0.02963
1.64%
Scroll Network
SCROLL
$0.02963
1.64%
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Scroll Network Information
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About Scroll Network
Scroll Network (SCROLL) is an Ethereum Layer 2 zk-Rollup solution, designed to reduce transaction costs and increase scalability. Its token, SCR, is used for governance, network security, and as a utility token for paying fees and interacting with applications. Founded in 2021 by Ye Zhang, Sandy Peng, and Haichen Shen, Scroll aims to enhance Ethereum's ecosystem by improving its performance and usability.
Scroll Network (SCROLL) is a Layer 2 scaling solution for Ethereum, using zk-Rollups to enhance Ethereum’s transaction throughput, reduce costs, and maintain the security of the blockchain. Scroll is EVM-compatible, meaning that applications built on Ethereum can function seamlessly on Scroll without modification. It leverages zero-knowledge proofs (ZKPs) to process transactions off-chain and then publish a compressed batch of transactions onto Ethereum, improving scalability while keeping the security guarantees of the Ethereum network.
Scroll is designed to improve Ethereum’s scalability and efficiency by offloading transaction processing from the main Ethereum blockchain onto its Layer 2 solution. This is especially beneficial for DeFi, NFTs, GameFi, and decentralised exchanges (DEXs), which need fast, low-cost transactions. Scroll already supports a variety of projects, including cross-rollup DEXs (e.g., Zada Finance), lending platforms (Cog Finance), and decentralised identity solutions like the Scroll Name Service.
The Scroll Network also offers a native bridge for users to transfer assets between Ethereum and Scroll, making cross-chain asset transfers smoother.
The native token of the Scroll Network, SCROLL, is central to its governance and operational framework. The token is primarily used to:
- Governance: SCROLL holders participate in the decision-making process concerning the protocol’s development and upgrades.
- Network Security: SCROLL tokens are used to incentivise and align the miner and prover communities. This helps decentralise the critical functions of Scroll’s ZK-Rollup architecture, such as transaction validation (via provers) and sequencing (via sequencers).
- Utility: SCROLL will also serve as a utility token, facilitating operations within the Scroll ecosystem, including paying for transaction fees and interacting with dApps deployed on the network.
Scroll was founded in 2021 by a team of developers and researchers specialising in blockchain, zero-knowledge cryptography, and scaling solutions. The team includes Haichen Shen, Sandy Peng, and Ye Zhang. Scroll has raised significant funding, including $80 million from prominent investors such as Polychain Capital and Bain Capital.
Although 'SCR' was the ticker assigned at the deployment of the Scroll Network token's smart contract, it is already being used by the fiat currency Seychelles Rupee. Due to this pre-existing association and to avoid confusion in the marketplace, the alternative ticker 'SCROLL' has been adopted for this token. This designation is specifically used to ensure that assets are distinctly identified.
