PROV Technical Analysis

The Creation: A Layer of Truth with Zero Knowledge Proofs

The creation of Succinct is not about launching yet another cryptocurrency, but rather about building a fundamental piece of infrastructure for Web3: an omni-chain attestation protocol

Technically, it works like this:

1. Proof Generation: The protocol allows any data or state of a blockchain, for example, the balance of a wallet, the ownership of an NFT, the outcome of a vote in a DAO to be transformed into a lightweight and succinct cryptographic proof.

2. Trustless Verification: This proof can be sent to another blockchain. A smart contract on that target chain can then mathematically and instantaneously verify the proof, confirming the veracity of the information without needing to trust a centralized intermediary and without revealing any sensitive data from the source

This architecture makes it omni-chain, as it creates a secure and decentralized way for different blockchains to communicate and verify facts about one another

The Utility: Infrastructure for a Connected Future

The utility is to provide a layer of verifiable truth for the entire Web3 ecosystem. Technical use cases include:

Secure Interoperability: Allowing a lending protocol on #Ethereum , for instance, to securely verify a user's credit reputation based on their activity on the network #Solana

Private Digital Identity: A user can prove that they possess a digital passport issued on an identity chain, to access a service on another chain, without revealing their personal data

Digital Public Infrastructure: Governments and institutions can use the protocol to issue verifiable credentials such as diplomas, licenses, etc. that are universally recognized across different digital systems securely

The token #PROVE is the functional asset of the protocol. Its technical utility is:

#Staking of Security: Node providers that generate the cryptographic proofs need to stake PROVE as collateral for their honest work