What is Scroll (SCR)

Bittime - What is Scroll (SCR) Ethereum currently has the most dynamic ecosystem, yet it is often congested and transaction fees are expensive Scroll is zkRollup's Layer 2 solution that utilizes zero-knowledge proof technology to improve Ethereum's scalability, making transactions faster and cheaper without compromising security and compatibility.

SCR Token Functions and Uses

SCR is Scroll's native utility and governance token. It is used for several functions, including

1 Governance SCR token holders can participate in decision-making related to the development of the Scroll protocol through a voting mechanism.

2.Future Use Cases: SCR will be used to decentralize provers, sequencers, and coordinate innovation in the multichain ecosystem. It can also be used for staking, gas fee-free transactions, and as an incentive anchor in the Scroll ecosystem.

Scrol Technology Innovation

Scroll features the zkEVM (Zero-Knowledge Ethereum Virtual Machine), which was developed openly with the zk team of the Ethereum Foundation.

This makes Scroll the most EVM (Ethereum Virtual Machine) compatible zkEVM on the market.

Scroll's hardware technology, PipeZK, also accelerates computations with GPUs up to 10 times faster than CPUs.

Scroll Layers

The Scroll network consists of three main layers
 

1 Sequencin Layer

Organizes and executes transactions from users and posts transaction data and validity proofs to Layer 1 of Ethereum to ensure data availability and finality.

2 Provision Layer

Contains a coordinator and a set of provers tasked with generating zkEVM validity proofs to ensure Layer 2 transactions are valid.

3 Settlement Layer

Responsible for validity proof verification and communication between Layer 1 of Ethereum and Scroll.

Life Cycle of a Scroll Transaction A Scrolltransaction goes through three stages

1 Confirmed Transaction is sent and confirmed within a few seconds

2 Committed Transactions are batched and submitted to Layer 1 of Ethereum within minutes.

3 Finalized Proof of validity of the batch is generated and verified at Layer 1, so the transaction cannot be reversed.

Tokenomics Scroll (SCR)

As of October 10, 2024, the total supply of SCR tokens is 1 billion, with an initial circulating supply of 190 million (19% of the total supply).

The token distribution breakdown includes airdrops, allocations for ecosystem growth, team contributions, and investors.

Also read Tokenomics Scrolls with SCR Coin, 15% for Airdro

Token Distribution

Ecosystem and Growth

29.50% of total token supply (Included)

Ecosystem and Growth 19.50% of total token supply

DAO Treasury: 10.00% of total token supply

Binance Launchpool

5.50% of the total token supply

Airdrop

15.00% of total token supply (inclusive)

Airdrop #1: 7.00% of total token supply

Future airdrops 8.00% of total token supply

Foundation

10.00% of total token supply

Contributon

22.95% of the total token supply

Investor

17.05% of the total token supply

Scrol Project Mission and Vision

Scroll's mission is to bring billions of users to the Ethereum ecosystem, create the most secure and trusted Layer 2 for processing on-chain transactions, and become a new center of innovation.

Scroll's vision is to provide egalitarian access to a global distributed network of applications and services for everyone everywhere.

Also read Airdrop Optimism Everything You Need to Know

Products and Ecosystem

Scroll has launched its mainnet in October 2023, offering transaction fees 10 times cheaper than the Ethereum mainnet with higher throughput. Scroll also has an SDK that allows anyone to launch a new Layer 2 using their technology.

In addition, Scroll integrates with various leading DeFi protocols such as Aave, Compound, and Lido.

Roadmap

Some of Scroll's key milestones include launching the mainnet, implementing EIP-4844 to optimize data availability, and improving performance to lower gas costs.

In the first half of 2025, Scroll plans to bring Rust-based sequencers and transaction parallelism to further improve scalability.

With all these innovations and developments, Scroll continues to strengthen its position as the most EVM-compatible zkRollup solution and offers a robust and liquidity-rich DeFi ecosystem.

July 2022

Pre-Alpha Testne

Early version testnet for developers to try zkEVM

Comments None (N/A) 

February 2023

Alpha Testne

Public testnet on Ethereum Goerli with full EVM opcode support in zkEVM, though there are still some missing precompiles and error cases. 

August 2023

Scroll Sepolia Beta Testne

Long-term testnet on Ethereum Sepolia with feature parity equivalent to the mainnet.

October 2023

Scroll Mainne Launch

Scroll's official mainnet launches

1st quarter 2024

Bridg Fee Optimization

Bridge deposit fee reduction by half

Announcement Available

Q2 2024

Bernoulli & Curi Enhancements

Implementation of EIP-4844 blobs for data availability optimization in L1, as well as Curie enhancements that include DA data compression, EIP-1559 and EIP-2930 transaction type support, and additional opcodes.

3rd Quarter 2024

Darwi enhancements

Multi-batch proof merging, addition of multi-blob per batch, L2 geth with dynamic block timing, synchronization to upstream, as well as transaction pipelining

Quarter 4 2024

z Library Enhancements

Enhancements to zk-related libraries, reduction in proving cost, and rewrite of circuit capacity checker for L2 geth.

First Half of 2025

Rust-Based Sequencer

Rust-based sequencer with better transaction parallelism and trie structure design.

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