Succinct Labs, which has raised up to $55 million, is quite popular, with many people competing for roles, and the code is reportedly hard to come by, with some saying it has been traded for $200 each?
Succinct Labs also has a broad vision; during the testnet phase, the official team directly airdropped USDC from the mainnet to users to incentivize participation in tasks. This 'pay first, work later' approach is quite rare; currently, testnet points activities are ongoing, but participation requires an invitation code, making it not too competitive overall!
About Succinct Labs
@SuccinctLabs is a blockchain technology company founded by a U.S. team dedicated to building a decentralized network of provers that promotes the transparency, privacy, and scalability of blockchain applications through zero-knowledge proof technology.
Funding Background:
Succinct Labs has completed a $55 million funding round led by top venture capital firm Paradigm, which has invested in two consecutive rounds. A project that can attract top capital to bet twice undoubtedly has its merits, which also provides strong endorsement of Succinct Labs' potential.
Team Strength:
Succinct Labs is composed of a group of technical experts with pure American backgrounds. Co-founder and CEO Uma Roy focuses on blockchain scalability solutions and zero-knowledge proof technology, while another co-founder, John Guibas, is responsible for protocol design and technical architecture. This team configuration lays a solid foundation for the project's technical strength.
Project Vision and Core Technology:
Succinct Labs' mission is to unify the blockchain's 'proof supply chain' through a decentralized network of provers, providing efficient and low-cost proof generation infrastructure for applications relying on zero-knowledge proofs, such as Rollups and co-processors. In simple terms, they aim to make on-chain verification more transparent and private while lowering the technical barriers, enabling more developers to build applications based on cryptographic truth rather than trust.
Succinct Labs' technology has three major highlights:
1. Decentralized Proof Network
Traditional blockchain verification often relies on centralized nodes or institutions, while Succinct has created a decentralized computing power pool. Anyone can join the network as a 'prover' to generate zero-knowledge proofs for on-chain applications, with all data being open and transparent, and no centralized 'referee' controlling the whole situation. For instance, if a developer wants to verify a complex on-chain transaction, they do not need to set up their own server; they just need to request a proof through Succinct's network, and a prover in the community will take the order and complete it.
2. Zero-Knowledge Proof (ZK) Technology
ZK technology is Succinct Labs' core competitive advantage. For example, if you apply for a loan at a bank, you need to prove that you have sufficient deposits. You do not need to tell the bank the exact amount of your deposits; you just need to generate a proof using ZK technology, and the bank can confirm that you meet the criteria while your privacy is protected. In blockchain, ZK can not only verify the validity of transactions but also ensure the privacy of user data, while enhancing the network's scalability. Succinct Labs applies this technology to cross-chain interoperability and Rollup scenarios, significantly improving efficiency.
3. Proving Market Mechanism
Succinct Labs innovatively introduces an 'auction mechanism' to coordinate computing power resources. Requesters (such as a dApp developer needing to generate proofs) can propose their needs and place bids, while provers take orders through bidding. This model resembles an efficient 'ride-hailing' system: if you need a fast ride, choose speed priority; if you want to save money, choose the prover with the lowest bid. This flexibility allows for optimal allocation of computing resources.