$PROVE The price has returned to 1.4; it really can be a matter of minutes.
Is the rise of Ethereum related to the succinct zk technology?
Succinct sp1 technology can significantly shorten the proof time for Ethereum.
1. Transaction time: The time it takes for a transaction to be issued by the user to be packaged and confirmed by the L2 (Layer 2 network) sequencer is usually very quick, within 1-2 seconds.
2. Proof generation time: This is a key bottleneck. L2 must generate a complex cryptographic proof (ZK-SNARK) for an entire batch of transactions (one L2 block) to prove to the Ethereum mainnet that these transactions are valid and honest. In the past, this process was very time-consuming, taking minutes or even tens of minutes.
How long does SP1 take to generate a proof?
According to the latest benchmark data released by Succinct Labs (using the SP1 'Hypercube' production version), its performance has reached an astonishing level:
For Ethereum mainnet blocks, SP1 has achieved an average proof generation delay of 10.3 seconds.
Specifically:
1. In a public demonstration, SP1 generated a validity proof in just 10.8 seconds for an Ethereum block containing 143 transactions that consumed 32 million Gas.
2. In internal tests on the last 10,000 Ethereum mainnet blocks, 93% of the blocks were able to complete proof within 12 seconds.
Why is this significant?
The block time for the Ethereum mainnet is about 12 seconds. The performance of SP1 means it is already capable of generating proofs for all activities of the previous block before the next mainnet block is produced.
This is 'Real-time Proving'.
Succinct's SP1 technology can reduce the time to generate final security certificates for an entire batch of transactions (one block) from the past few minutes or even tens of minutes to an average of about 10 seconds.
This allows transactions on L2 to almost instantly obtain final security confirmations at the Ethereum mainnet level, greatly enhancing the overall efficiency, security, and user experience of the ecosystem.
Put aside the noise of the market and the fluctuations of the K-line, and think about some longer-term, more fundamental things.
The real-time proofs, data (Blobs), blocks... These seemingly distant technical terms are actually the bricks and tiles that are building a more efficient and open crypto world.
True belief often arises from deep thinking after the noise subsides.
Wishing everyone a pleasant weekend.
$PROVE In the short term, expecting 2u.