Succinct has launched a decentralized proof network on Ethereum Mainnet, integrating the PROVE Token for payments and governance incentives.
The Succinct Prover Network provides a market for requesting and verifying zero-knowledge proofs, having integrated with 35 protocols, processed over 5 million proofs, and protected assets worth over 4 billion USD.
MAIN CONTENT
Succinct launches a decentralized proof network on Ethereum Mainnet.
The PROVE Token is used for validator payments and governance incentives.
The network integrates 35 protocols, processes 5 million proofs, and protects over 4 billion USD in assets.
What is the Succinct Prover Network and how does it operate on Ethereum Mainnet?
The Succinct Prover Network is a decentralized network that provides services for requesting and verifying zero-knowledge proofs on Ethereum Mainnet.
This network operates as a transparent market for blockchain protocols, allowing validators to verify data without disclosing sensitive information. With over 5 million proofs processed, the Succinct Prover Network demonstrates high performance and strong security, protecting assets up to 4 billion USD.
The network commits to providing a reliable and scalable platform by linking and integrating with over 35 diverse cryptocurrency protocols.
What role does the PROVE Token play in the Succinct ecosystem?
The PROVE Token is an internal token activated simultaneously with the launch of the Succinct network, used for paying validator fees and incentivizing network governance activities.
The use of the PROVE Token incentivizes validators to participate in verification, ensuring the safety and transparency of data on the network. At the same time, PROVE allows holders to participate in deciding ecosystem development policies, creating decentralization and autonomy.
The token also contributes to optimizing network operating costs and increasing attractiveness to projects and investors participating in Succinct.
What significant achievements has Succinct made before launching the network?
Before launching the mainnet, Succinct made a mark with a Series A funding round of 55 million USD led by Paradigm.
This large investment marks investors' trust in the project's vision and growth potential, while also supporting team expansion, technology development, and deep integration into the Blockchain ecosystem.
Reaching the milestone of protecting over 4 billion USD in assets on the platform demonstrates the high level of trust and effectiveness of the network in practice.
"Our mission is to build a decentralized and transparent network that effectively and safely supports cryptocurrency protocols with zero-knowledge proofs."
CEO Succinct, August 2023
Frequently Asked Questions
What distinguishes the Succinct Prover Network from other proof networks?
The network focuses on zero-knowledge proofs with decentralized request and verification markets, integrating diverse protocols and supporting the protection of large assets.
How is the PROVE Token used in the Succinct ecosystem?
PROVE is used to pay validator fees and promote governance, encouraging participation and network activities.
How much funding has Succinct raised for the project?
The project raised 55 million USD in a Series A funding round, led by investment firm Paradigm.
What is the level of security and processing scale of Succinct?
Has processed over 5 million proofs, protecting assets worth over 4 billion USD, ensuring network safety.
How many protocols has Succinct integrated with?
The network has successfully integrated with 35 diverse cryptocurrency protocols on Ethereum.
Source: https://tintucbitcoin.com/prove-token-ra-mat-mainnet-zk-phi-tap-trung/
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