Ethscriptions: A Revolutionary Decentralized Ethereum Layer 1 Infrastructure

Ethscriptions is a revolutionary decentralized Ethereum Layer 1 infrastructure

Ethscriptions is a revolutionary decentralized Ethereum Layer 1 infrastructure, co-developed by Tom Lehman and Michael Hirsch. It enables users to interact with contracts and perform calculations on Ethereum at extremely low gas costs by utilizing Dumb Contracts and the Ethscriptions Virtual Machine (ESC-VM), aiming to optimize the scalability and functionality of the Ethereum network. This article will introduce the main features, advantages, and use cases of Ethscriptions, as well as its innovative token $ETHS.

The Main Features of Ethscriptions

• Ethscriptions achieves low gas costs by bypassing smart contract storage and execution, instead applying deterministic protocol rules to Ethereum’s calldata to calculate state. According to the founders’ data testing, interacting with 4000 batches only costs about 0.11 ETH, with an average gas cost of less than 0.05u per interaction.
• Ethscriptions uses a new method of blockchain interaction and development, called Dumb Contracts, which strategically utilizes transaction calldata instead of traditional smart contract storage, opening a new frontier for Ethereum scaling. This innovative method has the potential to significantly reduce gas costs, adhering to the principles of economical and streamlined blockchain interaction.
• Ethscriptions has its own virtual machine, called ESC-VM, which can run Dumb Contracts on Ethereum Layer 1, providing efficient and flexible computational power, while maintaining decentralization and security. ESC-VM can also be compatible with other Layer 2 solutions, enabling cross-chain interoperability.

The Innovative Token $ETHS of Ethscriptions

• $ETHS is the representative and symbolic token of Ethscriptions, with a total supply of 21 million. $ETHS holders can gain benefit empowerment from various major projects within the Ethscriptions ecosystem, such as airdrops, lotteries, and various activities. $ETHS has its own exclusive official bridge in Ethscriptions, which can enable different forms of conversion.
• Currently, $ETHS can be purchased at [etch.market]. Each inscription contains 1000 $ETHS tokens. When Dumb goes live on the mainnet, $ETHS inscriptions can be converted into fungible tokens through the official bridge and traded on DEXs like DumbSwap.
• DumbSwap, developed on the ESC-VM by the official founders of Ethscriptions, utilizes Dumb Contracts to facilitate token swaps, liquidity provision, and yield acquisition without deploying a smart contract. It represents a practical application of Ethscriptions technology, showcasing the potential and functionality of Dumb Contracts and ESC-VM.

The Main Goal and Significance of Ethscriptions

• The main goal of Ethscriptions is to empower ordinary users to perform decentralized computations and interactions at a lower price, while also optimizing the scalability and functionality of the Ethereum network, opening up new possibilities for developers, consumers, and investors in the Ethereum ecosystem.
• Ethscriptions is different from Layer 2 solutions, as it operates on Ethereum Layer 1 and aims to replace all Layer 2 functionalities with more decentralized ways. Ethscriptions does not rely on any third-party services or validators, nor does it require complex state synchronization or rollback, thus ensuring the security and integrity of users’ assets and data.
• Ethscriptions was co-developed by Tom Lehman (former CEO of Genius.com) and Michael Hirsch (founder of Indelible Labs). Genius.com had previously received seed round investment from top-tier investment institutions like A16Z. The founders of Ethscriptions have rich experience and innovation ability in blockchain development, providing strong support and guarantee for the future development of Ethscriptions.

Ethscriptions is a revolutionary decentralized Ethereum Layer 1 infrastructure, which utilizes Dumb Contracts and ESC-VM to achieve low gas costs interaction and computation, optimizing the scalability and functionality of the Ethereum network, bringing new opportunities and challenges to the Ethereum ecosystem. $ETHS is the innovative token of Ethscriptions, which holders can gain various benefit empowerment in the Ethscriptions ecosystem, as well as enjoy the convenience and profit of use cases like DumbSwap. Ethscriptions is developed by a team of experienced and innovative founders, who have strong technical strength and development potential. Ethscriptions deserves the attention and participation of every user and investor who cares about the development of Ethereum.