Ethscriptions is a protocol that allows users to share information and perform computations on Ethereum L1 at a drastically lower cost.

Ethscriptions achieves this by bypassing all smart contract storage and execution and instead calculates state by the application of deterministic protocol rules to "dumb" Ethereum calldata.

The goal of Ethscriptions is to give ordinary users the ability to perform decentralized computations for a reasonable price.

Ethscriptions are an alternative to smart contracts—which are prohibitively expensive for most users—and to L2s, which today are centralized.

Ethscriptions launched on June 17th and already there have been over 1M ethscriptions created and over 2M USD in volume trading ethscriptions.