1/ Introducing Essential: The First Declarative Blockchain
By leveraging constraints to remove the need for execution, Essential enables developers to build scalable applications that optimize for the best user outcomes.
Read on below 🧵 👀
1/ Introducing ERC-7739: Generalized Intents for Smart Contract Wallets
A common intent interface designed to bring composability and interoperability to the intents ecosystem on Ethereum.
We're excited to announce a $5.15 million seed round to realize our mission of accelerating the transition from value extraction to intent satisfaction.
Introducing Essential.
We are building intent-based infrastructure & tooling to accelerate the transition from value extraction to intent satisfaction.
1/5: Intents have recently been grabbing much attention in web3. At Essential, we're exploring their potential.
Intents aren’t your everyday transactions. Instead, consider them as foundational guidelines specifying a user's desired outcome.
We are excited to announce we have led the seed round for
@intentessential
!
Essential is going to change how we interact with the blockchain.
Why? Read our thesis below:
👇
1/ Introducing ERC-7739: Generalized Intents for Smart Contract Wallets
A common intent interface designed to bring composability and interoperability to the intents ecosystem on Ethereum.
Today, we're launching our open development group for ERC-7521 – a generalized standard designed for intents. If you are interested in contributing drop us a DM to the official Essential Twitter account!
1/ How to get everyone using intents:
🧩 Give builders access to a standardized & composable intent format
👩💻 Get end users comfortable with intents on existing chains
⛺ Progress to a protocol with fully intent-based execution
1/ ERC-7521 is Evolving! Spec Revision 1 to ERC-7521 brings exciting updates. After 2.5 months since its initial release, this revision enhances the flexibility and functionality of generalized intents in smart contract wallets.
Read on below to catch up on the changes.
This Valentine's Day, we're sending love to all devs with a update to ERC-7521. Introducing generalized calldata compression compatible with ERC-4337! This development aims to significantly reduce gas costs on rollups.
Check it out here:
1/ The blockchain space has become increasingly extractive.
Intermediaries at every point in the transaction supply chain are leveraging their outsized capital & insider knowledge to extract value from end users.
Our solution:
#intents
🧵 👇
Join us for our first ERC-7521 community call this Friday at 9am PST via Twitter Spaces.
We'll be discussing the future of the intent standard and how to collaborate on its development. All are welcome to join and participate!
Differentiating between specificity of execution vs specificity of outcome is important in understanding Intents! Our belief is that users should be reasoning purely in terms of specificity of outcome.
This clip of
@simonr0204
speaking at
@GoodINTENT_ions
breaks it down.
Its been a great year so far at Essential, and we've been working hard on researching and building the best possible Intent centric infrastructure for developers and users.
We wanted to take the time to highlight some of what we've accomplished since starting in June of 2023.
We're joining not one, but two twitter spaces this week!
The first is with
@ParticleNtwrk
where
@PixelCircuits
will be discussing ERC-7521 and it's role in furthering Intents.
The second with
@BrinkTrade
and
@PropellerSwap
is all about solver incentives!
Be sure to tune in!
gm!
This coming Wednesday 11/29/23 at 9am pst we will be hosting the second ERC-7521 community call!
This call is open for anybody to join and share feedback, thoughts, and engage in discussion around the standard!
The link will be shared in the ERC-7521 group the day of.
1/ We're excited to be attending
@EFDevconnect
, a convergence of the brightest in blockchain.
This year we've noticed a huge uptick in the number of Intent-centric events, and are looking forward to participating in the discourse!
Devconnect this year was a fantastic space to talk shop on intents. With many different events covering them specifically!
Between 3 keynotes, and 5 panels we had plenty of opportunity to share our vision on intents, and where we think this space is heading.
We're looking forward to seeing everyone at ETH Denver!
Join us for a night of good vibes and INTENTions on February 29th. Spots are limited so be sure to register early!
Essential is hiring a marketing manager!
Are you interested in intents, helping to grow the next generation of scalable user focused infrastructure, and driving brand awareness for Essential?
Check out the JD below 👇
Reminder to tune in tomorrow at 5:30 PM CET as we cover declarative blockchains, constraint based programming, and how Essential will massively improve onchain interactions.
We enjoyed sitting down with
@robbie_rollup
on
@therollupco
to talk about declarative blockchains, intents, and delivering to users the best possible outcomes they could ask for!
Best outcomes for users, always.
What is a declarative blockchain?
In today's piece, we were joined by
@simonr0204
and
@liesleichholz
of
@intentessential
to explore the shift from imperative to declarative blockchain design.
We discussed intents and solver networks, novel ways of reaching consensus, and the
@intentessential
is building intent-based infrastructure & tooling to accelerate the transition from value extraction to intent satisfaction.
Excited to have them a part of the Good INTENTions community, and an official sponsor of our event in DevConnect!
📍Register in bio
A great overview of intents from
@bastian_wetzel
⛺
Users care about getting the best outcomes, not what happens behind the scenes.
Destination > journey. Intents are the future.
1/
Can we improve the current transaction-based approach in Web3 which proves to be complex & time-consuming for users?
Read my blog post on Intent-Based Architectures and Projects Experimenting with Them:
I’m optimistic about the intent comeback.
The declarative paradigm > imperative paradigm for UX reasons imo.
Moreover, there’s a trend of shedding unnecessary complexity (e.g matching) offchain, while keeping the chain reserved for settlement. Intents fit into this framework.
We believe intents are a superior format for structuring and executing user preferences.
With our products, we aim to minimize extractive behavior and maximize user satisfaction.
Now, while we continue to develop and steward this standard, we’re also building an intent-centric protocol, designed from the ground up to fully utilize all the most innovative aspects of intents.
Happy New Year, we hope you've set some good INTENTions for 2024! We're kicking it off with the third ERC-7521 Community call, focusing on 7521 gas performance and optimizations!
Tune in Thursday January 11th on Twitter.
Do you guys understand how scary of a combo physicist + programmer is. Masters of the universe fr. Additionally, everyone who is in this category is confirmed hot. Without exception.
2/ Essential is a declarative, intent-centric layer-2 blockchain. Deployed as an optimistic rollup on Ethereum, Essential enables developers to build more complex applications more simply.
Read the full blog post 👇
5/ Essential marks a paradigm shift as the first declarative blockchain.
By framing outcomes in terms of constraints instead of instructions, it allows for state updates without execution, addressing the core bottleneck inherent in imperative blockchains.
I will bite, once this cycle ends -
📉L3s and random-ass EVM L2s (disguised as app-specific) will go to zero.
📈 general purpose L2s, alt-VM L2s and hyper-specific/single-purpose L2s will stay.
2/ Early production implementations of intents on Ethereum are heavily siloed, each with their own unique requirements for participation and integration.
Currently, there is no common standard for solvers, wallets, and app developers to follow to ensure interoperability.
10/ By embracing a declarative model, Essential aims to overcome the limitations of imperative blockchains, offering a path toward true decentralization and user sovereignty.
Come build the future with us
5/ ERC-7739 is still in draft form. As with all ERCs, community participation and feedback are crucial to ensure the standard meets the needs of all stakeholders.
We need your input! Join the discussion on the
@EthMagicians
forum:
This round of funding has enabled us to build a team of 10 incredible people working toward building the intent-centric future. We’re extremely thankful to our backers, and to everyone else who has helped us get to where we are!
absolutely thiccy news coming out of
@intentessential
this week.
we’ve been cooking up something really awesome in the lab, and i’m so stoked to share it with you all :))
9/ Essential's executionless blockchain is underpinned by Pint, a constraint-based DSL for "programmable intents". Pint is optimized for developers, making it easier than ever to write secure applications with unbounded complexity.
6/ The imperative model's reliance on execution leads to market inefficiencies and higher costs. Essential's declarative framework emphasizes outcomes over execution, addressing these challenges and promising a more efficient and user-friendly blockchain ecosystem.
8/ Essential's declarative approach allows users and developers to directly constrain state by framing their interactions in terms of outcomes (i.e. intents).
This model is better for users, better for developers, and better for web3.
Since raising our seed round, we have built and published ERC-7521, a generalized intent standard for smart contract wallets, to bring composability to intent-centric products on Ethereum and other EVM chains.
3/ This uncertainty is holding back innovation.
To encourage widespread support for intents, we need open, composable infrastructure that reduces the barrier to entry and allows participants with varying levels of sophistication to easily plug into the entire intent ecosystem.
3/ Ethereum pushed blockchain technology beyond peer-to-peer payments to support complex logic and applications.
Despite all the innovation in the years since, blockchains remain limited by their adoption of the imperative programming paradigm.
4/ Many projects have started taking a declarative approach, but in our eyes, aren't going far enough.
Fully embracing declarative architecture at the state machine level enables a huge leap forward in terms of usability, accessibility, and scalability.
7/ With imperative blockchains, it's impossible to know the outcome of a transaction before it is confirmed. This uncertainty is bad for users.
The common UX complaints—uncertain outcomes, failed txs, slippage—are actually criticisms of the underlying imperative architecture.
4/ With our proposed generalized intent standard, we aim to provide a common, neutral, non-proprietary interface for builders in the intents community to secure future-proof access to the evolving landscape of intents on Ethereum.
1/ The blockchain space has become increasingly extractive.
Intermediaries at every point in the transaction supply chain are leveraging their outsized capital & insider knowledge to extract value from end users.
Our solution:
#intents
🧵 👇
Finally
@manoffrogs
delivered a talk on why both applications, and users should consider a more intent centric approach with their onchain activity.
Additionally he provided some examples of what generalized intents are capable of beyond just swaps!
2/ Elevating our presence, we're honored to cosponsor
@GoodINTENT_ions
. both CTO
@simonr0204
and Smart contract Engineer
@supiket
from our team will be contributing their perspectives delivering a keynote, and speaking on a panel respectively.
3/5: Here's a breakdown:
• Intent: The user's desired end goal for their transaction
• Transaction: The path or "delta" to achieve that goal
So while transactions are the steps to achieve a desired end state, intents clearly define the destination the user is aiming for.
5/5: In essence, intents are reshaping how users engage with blockchains. They provide direction, with subsequent solutions playing out to achieve that direction.
.
@supiket
delivered the next, focusing on ERC-7521, a standard for generalized intents for smart contract wallets.
Breaking down the standard, Bikem walked listeners through how ERC-7521 works, and provided examples of intents in this format.
5/ Last but not least, we will be attending
#AAvolution
to speak with other developers and founders on the future of intents and account abstraction!
We're looking forward to connecting with the community at Devconnect!
@mrgnalt
i really like the way
@intentessential
put this: a lot of UX / usability criticism is actually architecture criticism. users don’t have to know what sucks to know it sucks, they simply care about the outcomes.
14/ Summing up:
- Intents allow users to specify their intended outcome, removing the discrepancy between "what I asked for" and "what I got".
- Specialized solvers compete to find the best solutions, maximizing user satisfaction.
4/5: Diving a bit deeper: in most blockchain frameworks, transactions represent the change process. But with intents, we're more focused on defining our final position. Behind the scenes, solvers figure out the steps to reach the desired end state.