Sandy Peng, co-founder of Scroll, is actively engaged at the forefront of zero-knowledge EVM (zkEVM) Layer 2 solutions, aiming to be the first to provide them through her expertise in research, business development, and strategic endeavors in the field of knowledge proofs.
Career at Fission Capital and Entry into the Web3 World
After graduating from the University of Cambridge, Sandy Peng conducted research work at the Hong Kong Securities and Futures Commission before joining Fission Capital in 2017 as a Founding Partner, where she gained extensive industry experience by investing in Web3 projects. Currently, she oversees business development, fundraising, and community management at Scroll, a native zkEVM project.
During her work in Web3 project investments, she realized the importance of discovering projects that can solve existing industry problems. Among various issues, she believed that DeFi could address challenges in the financial services sector, such as limited accessibility for enterprises and complex procedures for opening bank accounts.
Her interest in the DeFi sector drew attention to the Ethereum ecosystem, which houses numerous major DeFi protocols. She closely observed the emergence of Ethereum 2.0 and its transition to proof-of-stake, believing it could serve as a solution to issues like high gas fees and slow transaction processing. However, she also acknowledges the possibility of alternative networks, such as Solana, challenging Ethereum's dominant position.
The Challenge as a Leader in zkEVM
Sandy Peng co-founded Scroll alongside Ye Zhang, who has been researching knowledge proofs since 2019, and Haichen Shen, who previously worked on machine learning system development at Amazon. Scroll competes with projects like Polygon and Matter Labs to establish standards for Ethereum's scalability, aiming to enhance privacy and scalability simultaneously. With ambitious plans, Scroll holds the potential to become a game-changer in this field.
What sets Scroll apart in the competition with other zk rollups is its EVM compatibility. EVM compatibility means the ability to write smart contracts using Solidity that function within the zk rollup network. While other zk rollup projects face challenges in using the Solidity compiler, resulting in suboptimal Developer Experience (DX), Scroll aims to achieve seamless integration with Ethereum, including the direct usage of the Solidity compiler, providing a clear competitive advantage upon implementation.
Scroll adopts a business model that leverages the revenue sources of Ethereum, such as block auctions and transaction fees, rather than relying on token-based mechanisms. Thanks to its technical prowess and a well-defined business model, Scroll successfully completed a $30 million Series A investment round in 2022, led by prominent investors like Bain and Polychain. In 2023, they concluded a successful $500 million Series B investment round with the participation of renowned venture capitalists, valuing the company at $1.8 billion.
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