Succinct offers a platform focused on zero-knowledge proofs, allowing users to generate proofs locally or utilize their prover network called SP1 for high performance. The platform operates a decentralized Prover Network - a two-sided marketplace where anyone can request proofs for software verification, and hardware operators can become provers to earn rewards.
Succinct addresses scalability, privacy, and verification challenges in blockchain applications by making zero-knowledge proof creation and verification efficient and accessible. The SP1 zkVM enables developers to write code in standard programming languages like Rust and generate zero-knowledge proofs automatically.
Core Innovation: Succinct unifies the proof supply chain, providing highly available proof generation infrastructure and competitive pricing for rollups, coprocessors, and other applications using zero-knowledge proofs, without requiring developers to have cryptography expertise.
Succinct Token (PROVE) and Economics
The PROVE token serves as the native utility and governance token powering the Succinct Prover Network.
Token Details
● Token Name: PROVE
● Token Symbol: PROVE
● Total Supply: 1,000,000,000 tokens (1 billion)
● Blockchain Deployment: ERC-20 on Ethereum
● Contract Address: 0x6BEF15D938d4E72056AC92Ea4bDD0D76B1C4ad29
● Initial Circulating Supply: 20% (200 million tokens)
Token Utilities
● Payments: Compensate provers for generating zero-knowledge proofs
● Staking: Provers must stake PROVE to participate in proof requests, securing the network
● Governance: Token holders propose and vote on protocol upgrades and network parameters
● Network Security: Support distributed proof generation infrastructure
● Delegation: Stake with provers to earn rewards and help secure the network
