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On August 19, 2025, the cryptocurrency market showed new dynamics. The price of Bitcoin is $115,542, with a 24-hour change of -4.0%; the price of Ethereum is $4,337, with a 24-hour change of -4.2%. Recently, the market has experienced a pullback, mainly due to deleveraging after reaching a peak last week, with bullish momentum weakening. Since last Thursday, over $1.7 billion in cryptocurrency futures long positions have been liquidated.
Notably, several important events have occurred. The National Pension Service of Korea increased its Bitcoin exposure by 182% in the first half of the year; Dutch listed company AMDAX plans to purchase 1% of the total Bitcoin supply; Thailand is piloting a cryptocurrency exchange program for tourists to convert to Thai Baht; JPMorgan states that the Bitcoin network hash rate has reached an all-time high. Additionally, the cryptocurrency exchange platform Gemini has applied for a listing, aiming to raise $400 million.

As the blockchain industry enters the 'post-scaling era', zero-knowledge proof (ZK) technology is transitioning from theory to large-scale implementation. On August 5th, the leader in ZK infrastructure, @Succinct , officially announced the launch of its decentralized proof network, the Succinct Prover Network, on the Ethereum mainnet, while simultaneously enabling the native token $PROVE. This milestone event marks the transition of ZK technology from the laboratory to real-world applications, bringing unprecedented scaling and privacy solutions to the Web3 ecosystem.
@Succinct
1. Technical Breakthrough: From ZK-SNARKs to Decentralized Proof Market
The core innovation of Succinct lies in building a trustless proof generation and verification market. Traditional ZK solutions rely on centralized provers, which pose a single point of failure risk, whereas Succinct attracts global validators through economic incentives, forming a distributed proof network. Currently, the network has integrated 35 protocols, processed a total of 5 million proofs, and secured over $4 billion in assets, with performance far exceeding similar solutions:
• Proof generation speed: Through hardware acceleration and algorithm optimization, the time to generate a single proof has been reduced to 1.2 seconds (traditional solutions take 5-10 seconds)
• Verification cost: On-chain verification gas consumption has decreased by 60%, compatible with mainstream L2 networks (such as zkSync Era, StarkNet)
• Flexibility: Supports dynamic switching between ZK-SNARKs (fast verification) and ZK-STARKs (post-quantum secure)
This 'modular' design allows developers to choose the optimal proof type based on scenario needs, for example, DeFi protocols prioritize using ZK-SNARKs to reduce costs, while NFT privacy transactions can utilize ZK-STARKs to ensure long-term security.

2. $PROVE Token Economics: Staking, Governance, and Ecosystem Incentives
$PROVE, as the core asset of the network, has a total supply of 1 billion tokens, with a distribution mechanism balancing short-term incentives and long-term development:
• Public and future incentives (25%): Includes the first round of airdrops (5%) and liquidity mining
• Ecosystem and R&D (25%): Funding for developer tools, protocol integration, and academic research
• Core contributors (29.5%): Tokens for the team and early supporters are subject to a 1-year lock-up + 4-year linear release
• Investors (10.5%): The Series A financing led by institutions like Paradigm has achieved technological implementation transformation
#SuccinctLabs #PROVE

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The Binance Square Ramadan Contest has officially started! 🎉
Celebrate the spirit of Ramadan and win a prize of 5,000 USDC!
From March 14 to 28, complete tasks and interact with the Binance 2025 Ramadan calendar for a chance to win.