Friends, in the previous post we discussed how @Succinct makes private computations accessible even for small teams (see the previous issue). Today it's time to see how these technologies work in the real world and why this is important for Web3 users 🌐.
One of the key applications is DeFi. Thanks to a decentralized network of provers and SP1, complex financial algorithms can be created where user data remains private, but the results of the computations are fully verifiable on the blockchain. This helps avoid manipulation risks and ensures maximum asset security.
Another example is NFT platforms. Often, it is necessary to process data about owners, token rarity, or game results without revealing private information. Succinct allows performing such computations off-chain, verifying them on the blockchain, and ensuring that no critical detail is visible to outsiders.
Thus, private computations pave the way for a new level of interactivity and security in Web3: any application, any idea can be realized without compromises.
Follow me to get explanations of complex technologies in understandable language and be the first to learn about the most relevant Web3 cases. And tomorrow we will explore how Succinct can combine privacy and scalability in global financial systems, which could completely change the game rules 🚀💡.