Scroll is a Layer-2 scaling solution built on Ethereum, leveraging zkEVM (Zero-Knowledge Ethereum Virtual Machine) technology to achieve full compatibility with the Ethereum Virtual Machine (EVM). Launched in early 2021, Scroll aims to address the scalability and cost challenges of the Ethereum network without compromising security or decentralization. This in-depth analysis explores Scroll’s architecture, key features, tokenomics, roadmap, and competitive landscape.
Table Content:
The Scroll Network Website
The Genesis of Scroll: Addressing Zk-Rollup Limitations
Existing zk-Rollup solutions often prioritize application-specific designs, hindering seamless DApp development and interoperability between Layer-1 and Layer-2 networks. This limitation restricts functionality and creates complexities for developers.
Scroll tackles this challenge by implementing zkEVM, enabling full EVM compatibility. This approach simplifies the development process, allowing developers to deploy existing Ethereum DApps on Scroll with minimal code modification. Furthermore, zkEVM enhances composability within Layer-2, fostering a more robust and interconnected ecosystem.
Deconstructing Scroll’s Architecture
Scroll’s architecture comprises three core components:
- Scroll Node: Responsible for relaying transactions from Layer-2 to Layer-1.
- Roller Network: Generates zkEVM validity proofs, ensuring the accurate execution of transactions.
- Rollup and Bridge Contracts: Provide data for transactions on Scroll, verify zkEVM proofs, and facilitate asset transfers between Ethereum and Scroll.
Scroll’s Three-Part Architecture
Scroll’s workflow involves creating, validating, and finalizing blocks on Layer-2 in sequential order. Sequencers within the Scroll Node generate these blocks, and the information and proofs are then submitted to smart contracts for verification. This process culminates in the finalized information being incorporated into the Scroll blockchain, progressing through Precommitted, Committed, and Finalized stages.
Scroll’s Defining Advantages
Unwavering EVM Compatibility (EVM-Equivalence)
Scroll’s EVM-Equivalence mirrors the functionality of Ethereum-compatible virtual machines, allowing seamless DApp migration between layers with minimal code adjustments. This drastically reduces development time and empowers developers to focus on innovation.
Scalability Redefined
By processing transactions off-chain and posting succinct proofs on-chain, Scroll significantly increases throughput and reduces transaction costs compared to direct Ethereum transactions.
Security as a Cornerstone
Scroll undergoes rigorous third-party audits to ensure protocol security. The platform’s commitment to transparency fosters decentralization and builds community trust.
Since the launch of the Scroll pre-Alpha testnet, key metrics include:
- 397,000+ unique wallet addresses
- 6,300+ smart contracts deployed
- 600+ tokens minted
- ~32,000 daily transactions
Decoding the Scroll Token (SCR)
SCR Token Overview
- Token Name: Scroll
- Ticker: SCR
- Blockchain: Scroll
- Token Type: ERC-20
- Contract: 0xd29687c813D741E2F938F4aC377128810E217b1b
- Total Supply: 1,000,000,000 SCR
SCR Token Allocation
SCR Token Distribution Breakdown
- Ecosystem & Growth: 29.5% (Ecosystem & Growth: 19.5%, DAO Treasury: 10%)
- Contributors: 22.95%
- Investors: 17.05%
- Airdrop: 15% (Airdrop 1: 7%, Future Airdrop: 8%)
- Foundation: 10%
- Binance Launchpool: 5.5%
SCR Token Release Schedule
SCR Token Unlocking Schedule over Time
Scroll’s Roadmap and Development Updates
Key Milestones:
- April 2022: Secured $30 million in Series A funding led by Polychain Capital.
- June 2022: Introduced Scroll, a zkEVM Layer-2 solution on Ethereum.
- July 2022: Launched the Scroll pre-Alpha testnet.
- October 2022: Surpassed 10,000 testnet users.
- February 2023: Released the Scroll Alpha testnet on Goerli.
- March 6, 2023: Raised $50 million at a $1.8 billion valuation.
Future Roadmap:
Scroll’s Development Phases
Scroll is currently in Phase 3: Alpha Testnet, with the Mainnet launch as the next major milestone.
The Team, Investors, and Partners Behind Scroll
The Scroll Team
Scroll boasts a team of experienced researchers and developers with expertise in cryptography and blockchain technology. The three co-founders, Sandy, Haichen, and Ye, previously collaborated on zkEVM research with the Ethereum Foundation.
Scroll’s Founding Team
Investors and Funding Rounds
Scroll has raised over $83 million in three funding rounds, with the most recent round securing $50 million from prominent investors like Polychain Capital, Sequoia China, and Bain Capital Crypto.
Strategic Partnerships
Scroll collaborates with various DApps and bridge providers, including:
- Uniswap: Deployed on Scroll Testnet.
- Lens Protocol: Deployed on Scroll’s Pre-Alpha testnet.
- Multichain, Hop Protocol, and Orbiter Finance: Bridge partners for seamless asset transfers.
Conclusion: Scroll’s Position in the Layer-2 Landscape
Scroll distinguishes itself through its unwavering commitment to EVM equivalence, scalability, and security. As the project progresses towards Mainnet launch, its innovative approach to zk-Rollup technology positions it as a strong contender in the rapidly evolving Layer-2 ecosystem. Scroll joins other leading zk-Rollup projects like Starknet, zkSync, and Polygon in pushing the boundaries of Ethereum scalability. The project’s strong team, significant funding, and strategic partnerships further solidify its potential for long-term success.
