To understand what Succinct is doing and why it has attracted such significant investment, we need to delve into its core technology and objectives.
1. Zero-knowledge proof (ZK-Proofs) technology
Zero-knowledge proof is a cryptographic concept that allows one party (the prover) to prove the truth of a statement to another party (the verifier) without revealing any details about the information itself.
Enhancing blockchain performance
Succinct's technology aims to enhance the performance of blockchains, enabling them to handle more transactions and data while maintaining low latency and high throughput.
More efficient blockchains: By utilizing zero-knowledge proofs and related technologies, Succinct can help reduce computational burdens and increase blockchain throughput (TPS), avoiding the scalability bottlenecks faced by traditional blockchains.
Reducing costs: The application of zk-Rollups and zk-SNARKs helps significantly lower the transaction fees and operational costs for each transaction, providing more economically viable solutions for blockchain networks.
Financing led by Paradigm and market prospects
This round of $55 million financing was led by Paradigm, indicating the importance that venture capital firms place on zero-knowledge proof technology, zk-rollups, and the field of privacy protection.
Summary: The future potential of Succinct
Succinct is developing a core technology to address blockchain privacy and scalability issues, with its zero-knowledge proof and zk-rollups technology having broad application prospects.
For investors, Succinct is an innovative project with high technical barriers, possessing strong market appeal. Although the maturity of technology and the market will take time, if it can achieve technological breakthroughs and gain widespread application, it may become one of the key players in the blockchain industry in the future.
