A brief introduction.
Succinct is an Ethereum-based protocol that creates a decentralized network of proof providers to generate zero-knowledge proofs (ZKPs) for any program or application. This protocol connects service providers and proof requesters in an open market without the need to build complex infrastructure from scratch.
The Succinct network relies on a "vApp" architecture, where the application acts as a fast-flowing web application, while its setup is verified through Ethereum to ensure transparency and security.
Tokens $PROVE are used as a primary currency for paying proof providers, for temporary storage purposes (and penalty for negligence), and for network governance.
1. A robust infrastructure solution for easily generating zero-knowledge proofs.
Succinct relies on a decentralized protocol that makes it easy for developers to request proofs without needing to build the proof system themselves, making it an ideal solution for infrastructures like rollups, bridges, AI agents, and more.
2. A competitive economy that ensures low costs and performance efficiency.
The network uses a real-time auction system (reverse auctions) to choose the lowest bidder to generate the proofs, reducing costs and incentivizing more efficient service providers.
3. Stimulating security and scalability with a clear collateral and penalties mechanism.
Proof providers need to hold tokens $PROVE as collateral. In case of default or manipulation, a portion of the tokens (the pieces) is burned. This enhances security and ensures reliability.
4. Strong support from major investors and increasing credibility.
The project secured significant funding from Paradigm in a Series A funding round of $55 million, along with support from Polychain Capital and other firms, giving it confidence and sustainability within the ZK infrastructure.
5. Scalable applications across multiple domains that evolve rapidly.
Since the launch of the mainnet, the network has supported over 35 protocols such as Polygon, Celestia, and Lido, achieved over 5 million service proofs, and provided infrastructure worth over $4 billion.
