About Rome Protocol

Rome Protocol focuses on shared sequencing, operating in the blockchain technology sector. The company's main service involves providing a shared sequencer based on the Solana blockchain platform. It was founded in 2023 and is based in Los Angeles, California.

When was Rome Protocol founded?

Rome Protocol was founded in 2023.

Where is Rome Protocol's headquarters?

Rome Protocol's headquarters is located at Los Angeles.

What is Rome Protocol's latest funding round?

Rome Protocol's latest funding round is Pre-Seed.

Who are the investors of Rome Protocol?

Investors of Rome Protocol include Portal Ventures and L2 Iterative Venture.

Introduce Rome Protocol & share its background

Rome Protocol has proposed the solution to issues or problems of cross-rollup transactions, decentralization, and interoperability between scalable blockchain by proposing The shared sequencer using Solana, I know this sounds like gibberish lets break it down.

A Thread

The reason why we’re here is because on the Ethereum blockchain Network we’ve seen a lot of transactions on the network which have caused a lot of transactions to be crowded and slow. Therefore a lot of companies have brought means to try and bring in initiatives or means that provide smoother and faster transactions on the Ethereum Network. Thus, making transactions to be completed within lesser time and at a faster pace. Allow me to introduce you to another company that has initiated an innovative solution for smooth and fast transactions on the Blockchain Network called Rome Protocol.

Rome Protocol is a company that has studied the blockchain transactions and also the interoperability between different scalable blockchain on the cryptocurrency network. Rome Protocol has proposed the solution to issues or problems of cross-rollup transactions, decentralization, and interoperability between scalable blockchain by proposing The Shared Sequencer Using Solana.

What is The Shared Sequencer?

A shared sequencer in a blockchain network refers to a mechanism or component responsible for ordering and sequencing transactions within the blockchain. In a decentralized network like a blockchain, where multiple nodes are involved in the validation and verification of transactions, maintaining a consistent order of transactions is crucial for ensuring the integrity and security of the system. A shared sequencer enables rollups to launch quickly, provides atomic composability for cross-rollup transactions, and preserves decentralization. A shared sequencer network is a necessity for secure, decentralized, and scalable blockchains. Shared sequencers also provide economies of scale, and allow for superior MEV (Miner Extractable Value) searching by removing the uncertainty around latencies for multiple sequencers, which can allow for more efficient MEV searching. The shared sequencer essentially acts as a coordinator or arbitrator that determines the order in which transactions are added to the blockchain. It ensures that all nodes in the network agree on the sequence of transactions, thereby preventing double-spending and other types of fraud. There are different approaches to implementing a shared sequencer in blockchain networks:

1. Proof-of-Work (PoW): In PoW based blockchains like Bitcoin, miners compete to solve cryptographic puzzles to validate and add new blocks of transactions to the blockchain. The longest chain with the most accumulated computational work becomes the valid chain, effectively serving as a shared sequencer.
2. Proof-of-Stake (PoS): PoS-based blockchains use a consensus mechanism where validators are chosen based on their stake (ownership) of the cryptocurrency. Validators take turns proposing and confirming blocks of transactions, and the order of transactions is determined by the chosen validator for each block.
3. Delegated Proof-of-Stake (DPoS): DPoS is a variant of PoS where stakeholders vote to elect a set of delegates who are responsible for validating transactions and producing blocks. These delegates take turns acting as the shared sequencer, with their order of inclusion of transactions determined by consensus among themselves or according to predefined rules.

4.    Hashgraph: Hashgraph is a distributed ledger technology that uses a voting-based consensus algorithm to achieve fast and fair ordering of transactions. It employs a gossip protocol where nodes communicate with each other to share transaction information, and a virtual voting process determines the order of transactions.

The shared sequencer plays a fundamental role in maintaining the integrity and consensus of the blockchain network, ensuring that all nodes have a consistent view of the transaction history. The choice of sequencing mechanism depends on factors such as security, scalability, and decentralization goals of the blockchain network.

Rome Protocol Approach/ Ideology

Cross-rollup atomic transaction inclusion offered by existing shared sequencers gives weak interoperability used by optimistic rollups. Stronger guarantees are needed for cross-rollup transactions such as bridging, arbitrage, and liquidity trades. This can be achieved using atomic conditional transaction execution, which can be done by shared sequencers.

All shared sequencers being built today are going to run into another problem: they will need a sizable stake to be effective in delivering on the shared sequencer promise of atomic composability. We will need to bootstrap billions of dollars of economic stake to secure the network. After numerous research and studies Rome Protocol have observed that in providing the solution to these problems, might be huge and they really wanted to make a very comfortable approach and easily accessible way of running these cross-rollup transactions.

So rather than starting from scratch, Rome Protocol birthed the idea of “what if we leverage existing validators from a PoS blockchain to act as a shared sequencer network? ”, So they thought to turn Solana into a shared sequencer.

So let’s talk about this idea and how it is going to be helpful.

Why Use Solana?

The question is why use Solana as a shared sequencer?

Now, If we look at it from this perspective, Solana provides a lot of benefits and this is because of it’s fast-rising updates that are already implemented on the network, therefore it’s an advantage to use the Solana Network as a foundation because it makes the job easier and faster to be achieved/accomplished.

Implementation Of The Ideology

Rome Protocol will provide a shared sequencer network deployed on Solana as smart contracts. Each rollup on the shared sequencer network will be represented by a Neon EVM deployment. By doing separate deployments of Neon EVM for each rollup, the state of the Neon EVM deployment will be identical to the state of the rollup. Since the states are identical, a transaction will revert on the rollup if and only if it reverts on the Neon EVM deployment. The canonical fork of Solana is unlikely to miscalculate whether a transaction reverts since the economic stake of the Solana network ensures its correctness.

Explain how Rome Protocol will enable speed, high throughput, secure ordering of ethereum rollups using Solana

Solana is a high-performance blockchain platform known for its scalability, throughput, and low transaction fees. Solana achieves high throughput by using a unique consensus mechanism called Proof of History (PoH) coupled with a Proof of Stake (PoS) mechanism. PoH creates a verifiable record of time which allows Solana to process transactions in parallel, greatly increasing throughput compared to traditional blockchain networks.

Now, the "Rome Protocol," could leverage Solana's capabilities to enable speed, high throughput, and secure ordering of Ethereum rollups by:

1. Solana's high throughput which allows for fast transaction processing, which means that transactions submitted to Ethereum rollups can be quickly processed and finalized. This ensures that users experience minimal latency when interacting with decentralized applications (dApps) deployed on Ethereum using rollups.

2. Solana's architecture enables high transaction throughput, making it suitable for handling the increased transaction volume generated by Ethereum rollups. This high throughput ensures that the rollup chain can handle a large number of transactions without experiencing congestion or delays.

3. Solana's consensus mechanism ensures secure and deterministic ordering of transactions. This means that transactions submitted to Ethereum rollups via Solana can be reliably ordered and finalized according to the rules of the rollup protocol. The Proof of History (PoH) mechanism provides a verifiable and immutable record of time, which can be used to order transactions accurately.

By leveraging Solana's capabilities, a protocol like the Rome Protocol could provide a powerful infrastructure for Ethereum rollups, enabling fast, scalable, and secure transaction processing while minimizing costs and improving the overall user experience for decentralized applications on Ethereum.

Present an overview of the Rome Protocol

The Rome Protocol is envisioned as a comprehensive protocol designed to address various challenges and requirements within decentralized finance (DeFi), blockchain interoperability, scalability, and other challenges through an approach of using Solana as what we like to call The Shared Sequencer. This is quite massive because its approach in today’s world of cryptocurrency is an innovation that have been initiated but none has produced this ideology, this is because of its approach and especially laying the foundation on the Solana network, it simply improves daily transactions on the cryptocurrency network.

Rome Protocol focuses on enabling seamless interoperability between different blockchain networks. It also provides standardized protocols and tools for cross-chain communication, asset transfers, and data sharing. Interoperability is crucial for facilitating the exchange of assets and information across disparate blockchain ecosystems.

Rome Protocol also recognizes the importance of scalability in blockchain networks, the Rome Protocol also incorporates innovative scaling solutions to improve transaction throughput, reduce latency, and lower fees. This might include layer 2 scaling solutions, sharding techniques, or integration with high-performance blockchain platforms like Solana or Ethereum 2.0.

Given the prominence of DeFi in the blockchain space, the Rome Protocol also include a suite of protocols, smart contracts, and tools tailored specifically for decentralized finance applications.

           The Rome Protocol could feature robust governance mechanisms designed to facilitate community participation and decision-making. This might involve decentralized governance models, such as DAOs (Decentralized Autonomous Organizations), where token holders can vote on protocol upgrades, parameter adjustments, and other governance proposals.

Security and privacy are paramount in blockchain networks. The Rome Protocol might integrate advanced cryptographic techniques, privacy-preserving technologies, and security audits to ensure the integrity and confidentiality of user transactions and data.

To incentivize participation and foster network growth, the Rome Protocol could introduce tokenomics models that reward users, validators, and contributors for their contributions to the ecosystem. This might include token incentives for staking, liquidity provision, governance participation, and other value-added activities.

A thriving developer ecosystem is essential for the long-term success of any blockchain protocol. The Rome Protocol could provide comprehensive developer tools, documentation, and support to empower developers to build and deploy decentralized applications (dApps) and smart contracts on the protocol.

It's important to note that the above overview is purely speculative, and the actual design and features of the "Rome Protocol" would depend on the specific goals, vision, and development efforts of the individuals or organizations behind it.

Explain how Rome Protocol cross rollup and cross chain atomic transaction enables trust-less cross rollup/cross chain arbitrage for searchers and MEVs

The Rome Protocol introduces cross-rollup and cross-chain atomic transactions, enabling trust-less cross-rollup/cross-chain arbitrage for searchers and MEVs (Miner Extractable Value).
Here's a breakdown of how this process works:
Cross-rollup and Cross-chain Atomic Transactions: Atomic transactions ensure that either all operations within a transaction succeed or fail together, without any partial execution. Cross-rollup and cross-chain atomic transactions extend this concept to transactions that involve multiple rollups (scaling solutions) or different blockchain networks.
Arbitrage Opportunities: Arbitrage refers to the practice of exploiting price differences of an asset in different markets. In the context of cross-rollup and cross-chain atomic transactions, arbitrage opportunities arise due to price disparities or inefficiencies between different rollups or blockchain networks.
Trustless Execution: The protocol ensures that the execution of arbitrage transactions is trustless, meaning it doesn't rely on centralized intermediaries or parties. Instead, it leverages smart contracts and cryptographic techniques to execute transactions in a decentralized and secure manner.
Searchers: Searchers are individuals or entities that actively seek out arbitrage opportunities across different rollups or chains. They analyze market conditions, identify price differentials, and execute arbitrage transactions to profit from the price gaps.
Miner Extractable Value (MEV): MEV refers to the potential profit that miners can extract from the ordering and inclusion of transactions in blocks. With cross-rollup and cross-chain atomic transactions, miners can optimize the ordering of transactions to maximize their profits from arbitrage opportunities and transaction fees.
Benefits: By enabling trustless cross-rollup/cross-chain arbitrage, the Rome Protocol provides several benefits:
 - Efficient Capital Allocation: Traders can efficiently allocate capital across different rollups or chains to exploit arbitrage opportunities, thereby increasing market efficiency.
 - Reduced Counterparty Risk: Trustless execution eliminates counterparty risk associated with centralized intermediaries, enhancing the security of transactions.
- Increased Liquidity: Arbitrage activities contribute to increased liquidity across different rollups and chains, fostering a more robust and interconnected ecosystem.
Overall, the Rome Protocol's implementation of cross-rollup and cross-chain atomic transactions empowers searchers and MEVs to engage in trustless arbitrage, leading to greater market efficiency and liquidity in the decentralized finance (DeFi) ecosystem.
The Rome Protocol introduces cross-rollup and cross-chain atomic transactions, enabling trustless arbitrage across different scaling solutions and blockchain networks. This allows searchers to exploit price differences without relying on centralized intermediaries. Miners can optimize transaction ordering to maximize profits from arbitrage opportunities and transaction fees, contributing to increased market efficiency and liquidity in decentralized finance (DeFi).

Identify the key stakeholders & the role they play in the Rome Protocol

Stakeholders in the Rome Protocol play various roles in the ecosystem, contributing to its development, adoption, and operation. Here are some key stakeholders and their roles:
Developers: Developers are responsible for designing, building, and maintaining the Rome Protocol's smart contracts, infrastructure, and user interfaces. They contribute to the protocol's technical advancement, security, and usability.
Users interact with the Rome Protocol to participate in cross-rollup/cross-chain transactions, including searchers seeking arbitrage opportunities, traders executing trades, and liquidity providers supplying assets to decentralized exchanges (DEXs). Their engagement drives transaction volume and liquidity within the protocol.
Miners/Validators: Miners (in proof-of-work networks) or validators (in proof-of-stake networks) validate and secure transactions on the underlying blockchain networks connected to the Rome Protocol. They play a crucial role in maintaining network consensus and ensuring the integrity of cross-rollup/cross-chain transactions.
Governance Participants engage in decentralized governance processes to propose, discuss, and vote on protocol upgrades, parameter changes, and other decisions affecting the Rome Protocol's operation. They contribute to the protocol's evolution and alignment with the community's interests.
Protocol Maintainers oversee the day-to-day operation of the Rome Protocol, including monitoring for potential vulnerabilities, managing upgrades and updates, and providing support to users and developers. They ensure the protocol's reliability, security, and stability over time.
Researchers/Auditors: Researchers and auditors conduct audits, security assessments, and research studies to evaluate the Rome Protocol's design, implementation, and performance. They identify potential vulnerabilities, propose improvements, and contribute to the protocol's overall robustness and trustworthiness.
Regulators/Policy Makers: Regulators and policymakers may have an indirect influence on the Rome Protocol by shaping regulatory frameworks and policies governing blockchain technology, cryptocurrencies, and decentralized finance (DeFi). Their decisions can impact the legal and regulatory environment in which the protocol operates.
Investors/Token Holders: Investors and token holders provide financial support to the Rome Protocol through investments in its native token or funding contributions to development efforts. They may also participate in governance processes and decision-making based on their token holdings.
These stakeholders collectively contribute to the success and sustainability of the Rome Protocol, each playing a distinct role in its ecosystem's functioning and evolution.

Make suggestions that can improve the Rome Protocol

Improving the Rome Protocol involves refining its existing features and possibly introducing new ones to address potential limitations and enhance its effectiveness. Here are some suggestions:
Enhance Scalability: Continuously work on improving the scalability of the protocol to accommodate growing transaction volumes across different rollups and chains. This could involve optimizing transaction processing speeds, reducing gas fees, and exploring layer 2 solutions to further increase throughput.
Advanced Security Measures: Implement additional security measures to mitigate potential risks such as frontrunning and sandwich attacks, which are common in arbitrage and MEV scenarios. This could include introducing novel cryptographic techniques or consensus mechanisms to enhance the protocol's resilience against such attacks.
User-Friendly Interfaces: Develop user-friendly interfaces and tools that streamline the process of identifying and executing arbitrage opportunities across different rollups and chains. Intuitive dashboards, analytics tools, and automation features can empower users to participate in arbitrage more effectively.
Interoperability Standards: Promote interoperability standards and protocols to facilitate seamless communication and interaction between different rollups, chains, and decentralized applications (dApps). This would simplify cross-rollup/cross-chain transactions and encourage broader adoption of the protocol within the DeFi ecosystem.
Community Engagement and Governance: Foster an active and engaged community around the Rome Protocol, involving stakeholders in the decision-making process through decentralized governance mechanisms. This ensures that protocol upgrades and changes are driven by consensus and align with the needs of the user base.
Continuous Audit and Improvement: Regularly conduct security audits and performance evaluations of the protocol to identify and address any vulnerabilities or inefficiencies. Continuous improvement and refinement are essential to maintain the protocol's integrity and competitiveness in the rapidly evolving DeFi landscape.
Education and Outreach: Invest in educational initiatives and outreach programs to raise awareness about the Rome Protocol and its potential benefits. This includes providing documentation, tutorials, and support resources to help users understand and leverage the protocol effectively.
By implementing these suggestions, the Rome Protocol can evolve into a more robust, secure, and user-friendly solution for facilitating trustless cross-rollup/cross-chain arbitrage in the DeFi ecosystem.
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