In the current rapid development of blockchain technology, the field of zero-knowledge proofs is welcoming a highly promising new star - Succinct. As an innovative project dedicated to building a decentralized prover network, Succinct has emerged in the industry with its outstanding technological strength and unique economic model, successfully landing on Binance, attracting widespread attention.
What is Succinct?
Succinct Network is committed to building a protocol on Ethereum to coordinate a distributed prover network for generating zero-knowledge proofs for various software, representing a significant innovation in blockchain scalability. Its globally fastest zero-knowledge virtual machine (zkVM) - SP1, along with the decentralized prover network powered by the PROVE token, aims to create the core architecture of zero-knowledge application infrastructure.
Succinct financing situation:
Succinct's financing performance demonstrates its attractiveness in the blockchain industry:
Seed round: Raised $12 million in 2023, participated by Paradigm, Robot Ventures, Standard Crypto, Gnosis VC, and other institutions.
Series A: Raised $43 million in 2025, led by Paradigm, with participation from Robot Ventures, Bankless Ventures, Geometry, ZKValidator, and several other institutions, totaling $55 million in funding.
Succinct investment institutions:
Paradigm is one of the most renowned investment institutions in the Web3 space, and its continuous investment in Succinct indicates optimism about its long-term potential.
Additionally, personal investments from industry leaders such as Sreeram Kannan (founder of EigenLayer) and Sandeep Nailwal (co-founder of Polygon) further enhance the project's credibility.
Basic situation of PROVE token:
The PROVE token is an ERC-20 token issued on Ethereum, fulfilling three main functions in the Succinct Prover network:
PROVE is the payment token of the Succinct Prover Network. Requesters use PROVE to pay fees to provers.
PROVE protects the network through staking, value distribution, and governance.
PROVE incentivizes provers to offer competitive prices to requesters.
The initial supply of PROVE is set at 1 billion tokens, with the maximum issuance rate of new tokens determined by network governance.
PROVE token launch situation:
Binance will launch $PROVE on August 5, 2025, at 17:00 UTC, and will open trading for $USDT, $USDC, $BNB, $FDUSD, and $TRY pairs.
Succinct ranking situation:
According to market data from Gate.com on August 13, 2025, the market cap of Succinct's native token PROVE is reported at $280 million, ranking 177th in the entire market.
In addition, Succinct ranked third in the Kaito Connect rankings.
Technological breakthroughs reshape the landscape of zero-knowledge proofs:
The core technology SP1 zkVM of Succinct is a significant breakthrough in the field of zero-knowledge proofs. It is currently the fastest zero-knowledge virtual machine in the world and has several remarkable advantages:
Extreme performance: With the support of GPU clusters, verifying Ethereum mainnet blocks takes only 40 seconds, with costs as low as a few cents. Compared to traditional solutions, the proof speed has improved by more than 28 times, and transaction fees have been significantly reduced to below $0.0001. The transactions per second (TPS) have exceeded 100,000, far surpassing the industry average, providing strong technical support for application scenarios such as Ethereum scaling.
Developer-friendly: SP1 zkVM supports developers to write ZK proof logic directly in Rust, meaning developers can reuse existing Rust code libraries, such as revm, reth, etc., greatly improving development efficiency, enhancing it by 100 times compared to before. At the same time, its precompiled mechanism has been deeply optimized for common cryptographic operations like Keccak, SHA256, significantly reducing computational overhead, making the development of zero-knowledge proofs much easier and more efficient.
Safe and reliable: Succinct places great emphasis on security issues. SP1 zkVM has passed multiple rigorous audits from top auditing agencies and achieved outstanding results in public audit competitions with 'zero high-risk vulnerabilities.' As a result, it has been adopted by many well-known projects such as Polygon and Celestia for building production-level applications, fully demonstrating its security and reliability.
Collaborating with industry giants to expand the application landscape:
During its development, Succinct has actively collaborated with leading projects in the industry and has established deep partnerships with Polygon, Celestia, Phala Network, and others. Its technical solutions are widely applied in building ZK Rollups, cross-chain bridges, privacy transactions, and other important scenarios, effectively safeguarding over $1 billion in on-chain asset security. For example, Polygon uses SP1 zkVM to build ZK Rollups, significantly enhancing scalability efficiency; Celestia integrates the Succinct protocol to achieve data availability verification, optimizing cross-chain bridge performance; Phala Network became the first project to run OP Succinct Rollup on the mainnet, promoting the commercialization of privacy computing. These successful collaboration cases fully demonstrate the strength and broad applicability of Succinct's technology, laying a solid foundation for its future development.
As the application of zero-knowledge proof technology continues to expand in blockchain and other fields, Succinct is expected to occupy a significant market share globally with its leading technology, innovative economic model, and strong ecosystem partnerships, becoming a leader in the field of zero-knowledge proofs. If you are eager to participate in this innovative transformation of blockchain technology, consider paying attention to Succinct and seizing this rare investment opportunity to witness the arrival of a new era of zero-knowledge proofs with us!
